Russian President Vladimir Putin ordered Wednesday’s first mobilization since World War Two. He also warned that Moscow would defend itself against any nuclear attack from the West.
DIPLOMACY/POLITICS
- Putin stated in a televised address that he would use every means possible to defend Russia and its people “if the territorial integrity of our nation is threatened”, he said.
- Russia’s mobilization was a predictable move that will prove very unpopular and underscores the fact that the war against Russia is not moving according to Moscow’s plan. Mykhailo Podolyak, Ukrainian presidential advisor, stated.
Putin stated that the West was plotting to destroy Russia by explicitly supporting referendums to be held in Ukraine in the coming days. Pro-Russian figures announced Tuesday that there would be referendums in September 23-27 in Luhansk and Donetsk, Kherson, Zaporizhzhia, which represent around 15% of Ukraine’s territory or about half the area of Hungary.
Related: Putin sends more troops to Ukraine and says that the West is using “nuclear blackmail”
* Moscow’s first update of casualty figures in nearly six months was made by Sergei Shoigu, the Defence Minister. He stated that 5,397 Russian soldiers were killed since the beginning of the conflict. Shoigu rejected claims by Kyiv or the West that Russia suffered heavy losses and stated that 90% of the wounded Russian soldiers had returned the frontline. * U.S. President Joe Biden will address the United Nations General Assembly Wednesday to urge the world to oppose Russia’s invasion in Ukraine. He stated that Moscow’s war on its neighbor is a violation of the U.N. charter.
ECONOMY/MARKETS
- Uniper was nationalized by Germany on Wednesday, after a multi-billion Euro bailout had failed to keep the gas importer afloat. President Vladimir Putin also sent oil prices higher when he announced a partial Russian military mobilization.
- Stocks fell while safe havens like government bonds and dollars rose as investors flee risk assets after Putin ordered partial mobilization and accused the West “nuclear Blackmail”. [MKTS/GLOB]
- On Wednesday, the rouble fell to 63 against a dollar, soaring more than two months. Russian stock markets plunged 10% upon opening
Related: Rate hikes, the war in Ukraine, and problems in China make it harder for Asia to grow -ADB
QUOTES
- Putin stated in the televised speech that those who try to blackmail us using nuclear weapons should be aware that the wind can move in their direction.
- “Sham referenda, mobilization are signs weakness, Russian failure,” Bridget Brink (NYSE: ), the U.S. ambassador in Ukraine, stated on Twitter (NYSE TWTR ).
