Currencies

Russia’s war on Ukraine latest : Two month extension agreed for Black Sea grain deal


May 17 (Reuters) – The Ukraine Black Sea grain deal has
been extended for two more months, in what U.N.
Secretary-General Antonio Guterres hailed as “good news for the
world,” a day before Russia could have quit the pact over
obstacles to its grain and fertiliser exports.

FIGHTING

* Ukraine denied a Russian hypersonic missile had destroyed
a U.S.-made Patriot missile defence system during an air strike
on Kyiv. Russia’s defence ministry made the assertion on Tuesday
after an overnight air attack on the Ukrainian capital.

* Ukraine’s military said it had made new advances in heavy
fighting near the eastern city of Bakhmut, and that Russia was
continuing to send in new units including paratroopers. The
remarks were the latest by Kyiv in the past week to indicate
that Russian forces have been pushed back in some areas around
Bakhmut after months of combat.

* Russia’s Defence Ministry said its forces were
continuing to fight to capture western parts of Bakhmut, the RIA
Novosti news agency reported. It also said its forces had hit a
large ammunition depot in the Ukrainian city of Mykolayiv.
* Reuters could not verify the battlefield reports.

DIPLOMACY AND ECONOMY

* Ukraine’s foreign minister told a top Chinese envoy at
talks in Kyiv that Ukraine would not accept any proposals to end
the war with Russia that involved it losing territory or
freezing the conflict, the ministry said.

* European Union foreign policy chief Josep Borrell has
proposed adding 3.5 billion euros ($3.85 billion) to a fund used
to finance military aid for Ukraine, EU sources said.

* Zelenskiy says he is making progress in persuading the
West to supply Ukraine with fighter jets – with U.S.-built F-16s
flown by several NATO nations in particular focus.

* The White House national security adviser said he
anticipates some engagement by G7 leaders with Ukrainian
President Zelenskiy during the group’s meeting in Japan later
this week.

* Price pressure was gradually intensifying after a
period of restrained price growth in the second half of last
year, Russia’s central bank said. Double-digit annual inflation
hit Russia last year soon after its invasion of Ukraine.

* Finland and Denmark’s bank accounts in Russia have
been frozen, prompting their embassies to make payments in cash,
officials from both countries said.

* Hungary will block the next tranche of EU military support
for Ukraine and any new sanctions package against Russia unless
Kyiv removes Hungarian bank OTP from its list of war sponsors,
its foreign minister said.

IN-DEPTH STORIES

* INSIGHT-Communities torn as Ukraine turns its back on
Moscow-linked church.

* INSIGHT-How Russians end up in a far-right militia
fighting in Ukraine.

* INSIGHT-Ukraine farms lose workers to war, complicating a
tough harvest

* EXPLAINER-Why the EU is restricting grain imports from
Ukraine
(Compiled by Reuters editors)



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