Every morning we deliver world news that you want to keep track of before you start your day. Click here to subscribe to the Bloomberg newsletter.
Ukrainian President Volodymyr Zelensky said on the 19th that this week will be a “historic week” for the country. Ukraine must have the consent of all 27 EU member countries to be recognized as a candidate for membership in the European Union (EU).
Ukraine has said that Russia’s military invasion could reduce grain yields by more than 40% this year. President Zelensky has stated that if the safety of vessels entering Ukrainian ports is guaranteed, he will do everything possible to mitigate the global food crisis.
NATO’s Secretary-General Jens Stoltenberg said in an interview with the German newspaper Built Sunday that the “war could last for years” in Ukraine, NATO relaxed its support for Ukraine He said it shouldn’t be.
The recent major movements regarding the situation in Ukraine are as follows.
“Historical week” ahead of EU decision-President Zelensky
The European Union (EU) will make a decision this week as to whether Ukraine will be recognized as a candidate for membership. Leaders of France, Italy and Germany have stated that they support recognition as a candidate, but all 27 member states need to agree.
“Tomorrow is the beginning of a truly historic week,” Zelensky said in a television speech on the night of the 19th.
Crude oil market rebound, traders see demand outlook as material
New York crude oil futures prices rose on the 20th Asian time trading. The market emphasized the prospect of a short-term increase in demand, rather than the possibility that the economy would slow down as a result of aggressive US monetary tightening. The New York Mercantile Exchange (NYMEX) West Texas Intermediate (WTI) July contract exceeded $ 110 a barrel.
NY Crude oil rebound, short-term demand increase outlook as material-from concerns about economic slowdown
German chemical industry seeks to secure gas supply
The German Chemical Industry Association (VCI) called for “taking every opportunity” to replace natural gas with other fuels in response to the supply cuts from Russia, and called for switching from gas-fired power generation to coal power generation.
The chemical and pharmaceutical industry consumes 15% of natural gas, the highest in Germany, but is not facing any serious supply problems at this time, VCI said in a statement.
Ukraine’s grain yield this year, down 43%
Ukraine’s grain and oilseed yields this year are expected to be only 60 million tonnes, down 43% from the previous year’s 106 million tonnes, due to Russia’s military invasion and partial occupation. The Under Secretary of Agriculture revealed in a television interview.
Since Russia’s military invasion in late February began to block shipments from Ukrainian ports, grain and oilseed exports have been limited to 4 million tonnes. The monthly shipping volume is 5-6 million tons.
Russia targets attack on Ukraine with cruise missiles
A spokesman for the Russian Defense Ministry has announced that it has hit a target near the village of eastern Dnipropetrovsk, where a meeting of Ukrainian military commanders was held, with a marine-launched cruise missile (SLCM) “Calibre”. The Ukrainian side has not commented on this, and Bloomberg has not been able to confirm it independently.
British Army top warns about Russia
General Patrick Sanders, who took office as the top of the British Army on the 13th, sent a message to the military that it was important to build the ability to “fight with allies and defeat Russia in battle”. “We are a generation that must equip the Army to fight again in Europe,” the British newspaper Sun reported.
Gas situation is serious-German Minister of Economy
Germany’s Minister of Economy and Climate Protection, Robert Habeck, commented in an email that the government is taking steps to raise gas storage levels.
“Supply safety is guaranteed at this point, but the situation is serious,” he said. “The situation will be even more severe in winter,” he said, unless gas consumption is further reduced and more is put into storage.
Germany strengthens efforts to expand gas storage-reducing supply from Russia
Original title:Ukraine Latest: Zelenskiy Awaits Fateful EU Vote; Harvest Alarm（抜粋）