Jakarta, CNBC Indonesia – The war between Russia and Ukraine is still going on today. The melee even took place in the “gates” and skies of NATO.
Three people were killed and others injured after Moscow launched large-scale airstrikes in western Ukraine, which borders Poland, a NATO alliance country. Britain is also hot on Russia and deploying fighter jets in NATO skies.
Russia’s central bank, too, is reported to be holding an impromptu meeting this Tuesday. Here are the complete facts summarized CNBC International, Tuesday (15/8/2023).
1.City Near NATO Missile ‘Rain’ Gate
Two cities in western Ukraine were reportedly bombarded by Russian airstrikes overnight. The cities are Lviv and Lutsk, which are adjacent to the NATO ‘gate’, Poland.
The mayor of Lviv reported this, saying the Ukrainian military was trying to bring down the incoming missiles. However, there are residential buildings that were affected by the attack.
“Many missiles were shot down,” he said AFP. “Residential buildings were hit. There was a fire upstairs. We are evacuating people. All services are on site.”
The same thing happened in the city 150 km north of Lviv, Lutsk. Mayor Igor Polishchuk said an industrial company in the city was targeted by the missile. “All emergency services are on site,” he said.
The governor of the Volyn region, whose capital is Lutsk, Yuriy Poguliaiko, also confirmed this. The attack injured two people.
“Air defense forces are working in the area during the night air alert,” he said. “But, unfortunately, we carried out an ‘attack’ on one of the industrial companies in the regional center. At this time, we know that two people were injured.”
Lutsk is less than 100 km on the border of Ukraine and Poland. Lviv is 70 km from Poland.
There has been no comment from the Kremlin on this. But the government of Vladimir Putin yesterday caused a stir by firing warning shots at Turkish cargo, in the Black Sea.
2.Ukraine Destroys 16 Russian Missiles
Ukrainian troops destroyed 16 of the 28 missiles that Russia launched at the country last night. This was conveyed by the Ukrainian air defense forces on Tuesday on the Telegram messaging application.
“As a result of anti-aircraft combat by Air Force forces and facilities, in cooperation with units of other components of the Defense Force, the following were destroyed: 16 Kh-101/Kh-555 cruise missiles, Caliber,” the post said.
3. Extraordinary Meeting of the Central Bank of Russia
Meanwhile, Russia’s central bank on Tuesday raised its key interest rate to 12% from 8.5%. This was conveyed by the bank in a statement on its website.
The bank held an extraordinary meeting on Tuesday. This amid pressure from Moscow to halt the rapid depreciation of the country’s ruble.
“Inflationary pressures are building,” the bank said in a statement. “The decision is aimed at limiting price stability risks.”
The ruble slumped near 102 against the dollar on Monday on worries about the state of the economy and the impact of Western sanctions. President Vladimir Putin’s economic adviser, Maxim Oreshkin, on Monday blamed the falling currency and accelerating inflation on loose monetary policy.
The bank last made an emergency rate hike at the end of February 2022. At that time, interest rates rose to 20%.
4. The Ruble Free Falled
The Russian ruble plunged shortly after the central bank announced an emergency rate hike of 350 basis points. Monday, the ruble briefly fell to its lowest level in 17 months, sliding past the psychologically important threshold of 100 against the US dollar, it was reported CNBC International.
The ruble actually strengthened. But after that, it fell 0.2% to settle around 97.82 by 11:15 am Moscow time.
5.Russia Defines Sharia Economy
The Russian Parliament, known as the Duma, adopted a law to conduct an experiment to introduce Islamic banking in four regions of Russia. This happened when the country was getting tough sanctions from the West after its attack on Ukraine.
The trial will run from September 1, 2023 to September 1, 2025 in Dagestan, Chechnya, Bashkortostan and Tatarstan, which are predominantly Muslim. Its duration can be extended and the participants in the experiment will be recorded by the Central Bank.
The registration documents will be submitted to the Duma by a group of deputies and senators led by Anatoly Aksakov, chairman of the Duma’s committee on financial markets.
Islamic banking implies adherence to sharia principles in the provision of financial services. In particular, the principle prohibits taking a percentage or flat fee on a loan. The adopted law also allows the collection of variable remuneration, depending on the outcome of the transaction.
The later introduction of Islamic banking also involves the establishment of a special board at the Central Bank of Russia, an arbitral institution which will evaluate whether certain bank decisions are in accordance with Shariah principles.
Even so, Deputy Duma Ayrat Farrakhov said that there were still challenges including the implementation of Islamic banking. However, he saw this as necessary to satisfy the hearts of Muslims in that country.
“The adoption of the law has been very difficult. But it opens up great opportunities to satisfy Russia’s 20 million Muslims,” he told Russian media Realnoe Vremya.
6. Kim Jong Un Sends a Letter to Putin
North Korean leader Kim Jong Un and Russian President Vladimir Putin exchanged letters on Tuesday. The two vowed to develop long-term strategic relations between the two countries, North Korean state media reported KCNA.
The letters mark the 78th anniversary of Korea’s liberation from Japanese rule from 1910-1945. It is also celebrated as a national holiday in South Korea (South Korea).
In his letter to Putin, Kim said the friendship between the two countries was forged in World War II with the victory over Japan. While now the two countries are “in the struggle to destroy arbitrary imperialist hegemony and practices”.
“I firmly believe that friendship and solidarity… will be further developed into a long-term strategic relationship according to the demands of the new era,” Kim was quoted as saying in the letter.
“The two countries will always emerge victorious, fully supporting and cooperating with each other to achieve common goals and objectives,” he added.
Putin also gave a message to Kim Jong Un through his letter. He also promised to strengthen bilateral relations.
“I am sure that we will strengthen bilateral cooperation in all fields for the well-being of the two peoples and the stability and security of the Korean peninsula and all of Northeast Asia,” Putin said, as quoted Reuters.
7,9,400 Civilians Killed During the War
The UN has confirmed 9,444 Ukrainian civilian deaths. Meanwhile 16,940 people have been injured in the country since the all-out Russian invasion began more than 530 days ago.
“The death toll in Ukraine is much higher,” said the Office of the UN High Commissioner for Human Rights
“Because the receipt of information from several locations where heavy hostilities have occurred has been delayed and many reports are still pending verification,” he added.
8. NATO skies are hot
The skies of NATO heated up yesterday. Britain said Typhoon fighter jets intercepted two Russian maritime patrol bombers in international airspace north of Scotland on Monday, within NATO’s northern air policing area.
“Pilots launched their Typhoon jets to intercept two Russian long-range bombers this morning, monitoring them as they passed north of the Shetland Islands, ready to engage any potential threats to UK territory,” said British Minister for Defense James Heappey.
The Russian Defense Ministry said earlier that Russian strategic bombers had made routine flights over international waters in the Arctic. Russia regularly flies its Tu-160 and Tu-95 long-range bombers, capable of carrying nuclear cruise missiles, in international waters.
“All the flights were carried out in strict compliance with international airspace regulations,” the ministry said, adding the longest flight lasted just over seven hours.
New Chapter of the Russia-Ukraine War, Putin’s Jet Intercepts NATO Aircraft