July 5, 2022Newsletter

Russia Update: July 5, 2022


Australia’s Prime Minister visited Ukraine.

Ukraine asked Turkey to probe Russian ships that are alleged to be transporting stolen Ukrainian grain.


Japan announced sanctions on 57 individuals and 6 entities.


Europe’s gas crisis could get even more intense as Norway grapples with a workers’ strike. Germany is calling for greater efforts to save energy as it frets about a full Russian gas cut-off. Russia may impose a windfall tax on Gazprom.

Shippers willing to ship Russian crude are making a windfall.

UniCredit is exploring a way to sell its Russian unit through a structure that would allow it to repurchase the operations if the geopolitical situation stabilizes. ArcelorMittal has resumed steel shipments to Russia.

Russian oligarch Vladimir Potanin is evaluating a merger between mining group Nornickel and aluminum producer Rusal.

Ukraine Sitrep

Ukraine withdrew from the eastern city of Lysychansk. Ukraine estimates that rebuilding the country will cost $750 billion.

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