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July 8, 2022Newsletter

Russia Update: July 8, 2022

Diplomacy

Russia’s Foreign Minister has mostly been treated as a pariah at the G20 Foreign Ministers meeting, with most foreign ministers refusing to meet with him.

Pro-Russian hackers targeted Congress’ website.

Sanctions

Treasury Secretary Janet Yellen is heading to Japan and South Korea to discuss an oil price cap with her G20 counterparts.

Consequences

Ukraine’s inflation accelerated from 18.0% to 21.5%. Ukrainian grain farmers have been financially devastated by the war.

Canada will reportedly deliver a gas pipeline turbine to Germany that has been caught up in sanctions, as Russia promised to raise gas deliveries if the turbine is delivered.

Ukraine Sitrep

The Pentagon announced an additional $400 million in military aid, including four more longer-range rocket systems.

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