Late News on the Russia-Ukraine War

From the Wall Street Journal:

Ukraine: The war entered its 100th day with no end in sight, death tolls and destruction mounting and prolonged repercussions on global food and energy supplies. The civilian and military death tolls, numbers of refugees and the economic impact of the war provide evidence of the extent of the devastation.

Even the official refugee count—6.8 million people had fled Ukraine as of May 29—vastly understates the exodus.

Ukrainian President Volodymyr Zelensky released a somber, defiant video asserting that “victory will be ours.”

In the Donbas area of Ukraine, Russian forces advanced behind heavy artillery barrages, sending thousands of civilians fleeing.

Russia: While Russia, 100 days into its invasion of Ukraine, faces a deep recession and a long-term erosion of its economic potential, Kremlin officials and supporters say the war is proof of Moscow’s independence and power, and President Vladimir Putin continues to pour Russian lives and military resources into his war mission.

Europe: The European Union’s new sanctions package, which includes a phased-in embargo on most Russian oil, takes effect on Friday.

Markets: The war is redrawing the world’s energy map, ushering in a new era in which the flow of fossil fuels is influenced by geopolitical rivalries as much as supply and demand.

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