October 4, 2022

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Ukraine Latest: US to Send Advanced Rockets; Russia Holds Drills

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(Bloomberg) — The US will provide Ukraine with advanced rocket systems and other weaponry to help it fight invading forces, President Joe Biden said in a New York Times essay, adding he’s not seeking a war between NATO and Russia.

Russia’s military said it’s holding drills that involve nuclear-capable missiles but gave no indication if a test launch is imminent. European Union leaders wrapped up a two-day summit after agreeing to pursue a ban on Russian oil imports. Kremlin-led forces closed in on full control of Ukraine’s eastern region of Luhansk.

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Russia said Saudi Arabia hailed their oil-market cooperation in the OPEC+ alliance as Foreign Minister Sergei Lavrov visited the kingdom for talks with Gulf officials.

Key Developments

Russia’s $285 Billion Oil and Gas Bonanza Is Funding Putin’s WarRussian Yachts and Money Are Going Where US Influence Has WanedBiden Says US Will Provide Advanced Rocket Systems to UkraineGrain Futures Plummet With Ukraine Export Prospects in FocusEU Leaders Back Push to Ban Most Russia Oil Over Putin’s WarEurope’s Move Against Putin’s Oil May Be Its Last for a While

Russia’s Lavrov Hails OPEC+ Cooperation on Visit to Saudi Arabia (8:09 a.m.)

Russia said Saudi Arabia hailed their oil-market cooperation in the OPEC+ alliance as Foreign Minister Lavrov visited the kingdom for talks with Gulf officials.

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The trip comes as Moscow faces growing pressure from the US and its allies over its invasion of Ukraine. Oil-exporting Gulf nations have maintained ties with Moscow and haven’t joined in the sanctions imposed by the US and its allies. 

Bloomberg News

2022-06-01 02:48:56

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