Russia launched a large drone attack from Crimea overnight, sending about 40 loitering munitions, Ukraine’s air defence forces said. Ukraine shot down 30 drones in two southern regions — Mykolaiv and Odesa - and in the central region of Vinnytsia. Romania is investigating a potential breach of its territory from the barrage, with its army searching for debris near the eastern town of Galati, close to Ukraine’s Danube River port of Reni.
President Vladimir Putin issued a video address to mark one year since signing documents to illegally annex four Ukrainian regions. Putin cast the invasion of neighboring Ukraine as Russia’s bid to defend its “sovereignty” and “spiritual values.” In a post on Telegram, Putin ally and former prime minister Dmitry Medvedev suggested that Russia would have “more new regions.”
Thirteen “prominent” weapons manufacturers have signed a declaration which will form the basis for an “alliance of defense industries,” an international coalition of arms producers Ukraine is creating in a bid to stem Russia’s invasion, President Volodymyr Zelenskiy told participants at an arms-focused event in Kyiv on Friday, without providing details. Any weapons maker “that shares our intention to provide real protection from aggression in these current risky circumstances” could join the alliance, he said.
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Markets
Wheat futures tumbled to a three-year low after the USDA showed domestic production and quarterly stockpiles were bigger than analysts expected - and more broadly, amid booming harvests in Russia and other key producers.
Oil posted its largest quarterly rally since the initial jolt from the war in Ukraine as lower Russian fuel exports threaten to further tighten a market wrestling with OPEC+ production cuts. US Treasury Secretary Janet Yellen said recent market prices for Russian oil suggest that the G-& price cap is no longer working as hoped.
