Ukraine Latest: Zelenskiy, BlackRock’s Fink Discuss Rebuilding

American Age Official

(Bloomberg) — Ukrainian President Volodymyr Zelenskiy said his government is preparing to participate in the World Economic Forum in Davos next month and that he spoke again with BlackRock Inc. Chief Executive Officer Larry Fink about the postwar rebuilding effort.

Most Read from Bloomberg

“Specialists of this company are already helping Ukraine to structure the fund for the reconstruction of our state,” Zelenskiy, who had a video call with Fink in September, said in his evening address to the nation. He didn’t say whether he would attend the Jan. 16-20 WEF in person or participate virtually.

Zelenskiy also said that he spoke with Italian Prime Minister Giorgia Meloni and raised the prospect of Italy contributing to the strengthening of Ukraine’s air defenses.

(See RSAN on the Bloomberg Terminal for the Russian Sanctions Dashboard.)

Key Developments

  • Russian Billionaire Urges Africa to Press EU on Fertilizer Snarl

  • Japan Set to Import First Crude Shipment From Russia Since May

  • Putin Responds to Oil-Price Cap With Sales Ban for Participants

  • Oil Dips From Three-Week High in Choppy Holiday Trading

  • European Gas Drops Further as Mild, Windy Weather Curbs Demand

On the Ground

Russian forces continued offensive operations around Bakhmut and Avdiyivka in the eastern Donetsk region, while trying to improve their tactical position on the Lyman axis to the north, Ukraine’s General Staff said on Facebook. According to the statement, Russian troops carried out a missile strike and launched 33 barrages with multiple-rocket systems over the past day, including targeting civilian facilities in the southern city of Kherson. The General Staff did not mention any Russian air strikes in its morning update for the second day in a row, suggesting a drop in Russian air-force activity following this week’s drone attack on a base in southern Russia.

(All times CET)

Ports Damage Seen at Almost $400 Million: Official (12 p.m.)

Russian shelling has caused damage to port facilities in Greater Odesa and Mykolaiv worth at least $380 million, Ukrainian Sea Ports Administration chief Oleksii Vostrikov said in an interview published on the agency’s Facebook page.

Cargo volumes at Ukrainian ports slumped to 50.8 million tons in 2022, three times less than the previous year, according to Vostrikov. The total volume of grain shipped through Ukrainian ports will amount to some 15-16 million tons by the end of the year, Vostrikov predicted.

Russian Billionaire Warns on Fertilizer Snarl (11:15 a.m.)

Russian fertilizer billionaire Andrey Melnichenko is lobbying politicians in Africa to pressure the European Union into finding a solution to the self-sanctioning he says is choking flows of food and vital crop nutrients.

While EU sanctions on Russia don’t target agricultural products or fertilizers, restrictions on tycoons such as himself have led to insurers, banks and logistics companies backing away. That’s curbed fertilizer shipments by about 9 million tons so far this year, said Melnichenko, the founder of EuroChem Group AG.

Russia Shells Gas Pipeline: Ukrenergo (11 a.m.)

Ukraine’s power deficit widened Wednesday due to Russian shelling of a gas pipeline in the country’s east, national grid operator Ukrenergo said on Telegram, without providing further details. At the same time, warmer weather continued for a fourth day, enabling the company to avoid imposing limits on power at night, according to the statement.

German Lawmaker Warns on Russian Spying Threat (8:45 a.m.)

The head of the German lower house of parliament’s intelligence oversight committee said the recent unmasking of an alleged Russian spy at the country’s foreign intelligence service suggests authorities have only been “half switched on” to the threat of infiltration by the Kremlin in recent years.

“What everyone needs to take on board is that there are still intense intelligence activities going on like during the Cold War, and at a time when Russia is conducting an illegal war against Ukraine we have to keep a very sharp eye on this,” Konstantin von Notz, a Bundestag lawmaker for the ruling Greens party, said in an interview with Deutschlandfunk radio. “I would be very pleased if this unfortunate case would prompt us to take a critical look so that we are in better shape for the future.”

Kyiv Power Supply Stable, Restrictions Persist (8 a.m.)

Kyiv’s electricity supply is limited but stable and is being evenly distributed through temporary grid reconnection measures, Serhiy Kovalenko, the head of power company Yasno, said on Facebook. It’s “difficult to predict” how reliably the equipment will cope with lower temperatures and higher consumption, he added, also pointing to the threat of Russian missile and drone attacks.

Emergency cutoffs will continue in the Ukrainian capital through the winter, the deputy head of Kyiv’s city administration, Petro Panteleev, said earlier on television. More than 300,000 Kyiv residents remained without power as of Wednesday morning, news website Kyiv.media quoted a deputy head of the city council as saying.

OHCHR Records Almost 18,000 Civilian Casualties (7:45 a.m.)

The Office of the United Nations High Commissioner for Human Rights has recorded 17,831 civilian casualties in Ukraine between the end of February when Russia launched its full-scale invasion and Dec. 26, including 6,884 killed and 10,947 injured.

“Most of the civilian casualties recorded were caused by the use of explosive weapons with wide area effects, including shelling from heavy artillery, multiple launch rocket systems, missiles and air strikes,” the OHCHR said in a statement. The actual figures are likely considerably higher, as information from some locations where hostilities are especially intense has been delayed and many reports are still awaiting corroboration, it added.

Deputy Minister Details Infrastructure Damage (7 a.m.)

About 700 critical infrastructure facilities in Ukraine, including gas pipelines, power substations and bridges, have been damaged since Russia invaded, according to Yevhen Yenin, a deputy interior minister.

In total, more than 35,000 facilities across the country have been destroyed as a result of Russian attacks, Yenin said on television late Tuesday.

Most Read from Bloomberg Businessweek

©2022 Bloomberg L.P.

Next Post

'Not a traitor': The Russians fighting alongside Ukraine's forces

For Russians who have been fighting on Ukraine’s side as part of the “Freedom of Russia” legion since President Vladimir Putin sent troops into Ukraine, secrecy is of the utmost importance. The exact number of their personnel is strictly confidential, […]