Ukraine Latest: Russia Launches One of Fiercest Barrages of War

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(Bloomberg) — Russia launched one of the most intense missile barrages of the war, with major Ukrainian cities including the capital Kyiv and Lviv in the west near Poland coming under attack. It was the 10th such assault since the Kremlin began targeting critical infrastructure in September.

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Ukraine’s Air Force command said on Facebook that Russia had fired cruise missiles from ships and strategic bombers, and officials reported rockets incoming across the country, including in Kharkiv in the east, Odesa in the south and Sumy to the north. More than 120 missiles were launched, Mykhailo Podolyak, an adviser to Ukrainian President Volodymyr Zelenskiy, said in a tweet.

Russian Foreign Minister Sergei Lavrov meanwhile ruled out talks with Ukraine to end the war. The Kremlin won’t discuss demands that it withdraw from occupied lands and pay reparations, Lavrov said in an interview with state-run news service RIA Novosti. Ukraine should cede sovereignty over territories annexed by Russia since President Vladimir Putin ordered the Feb. 24 invasion, Lavrov said earlier this week.

(See RSAN on the Bloomberg Terminal for the Russian Sanctions Dashboard.)

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On the Ground

Overnight, Russian forces hit energy infrastructure in Kharkiv with Iranian-made Shahed drones, Ukraine’s General Staff said on Facebook, adding that 11 of 13 UAVs were shot down by Ukrainian troops. Several buildings, a gas pipeline and a power line were damaged in an attack on the Zaporizhzhia suburbs, Oleksandr Starukh, the regional governor, said on Telegram. Three Russian missile carriers are now on combat duty in the Black Sea, according to a statement from the Ukrainian southern command.

(All times CET)

Japan to Continue Russia Shipping Coverage (9:40 a.m.)

Japan’s insurers will continue to provide war-risk coverage for vessels in Russian waters in January, Kyodo News reported, in a move that will likely ease concerns about disruptions to Russian liquefied natural gas shipments.

The insurance companies said earlier this month that they would halt the marine hull war risk coverage in Russian and Ukrainian territorial waters from Jan. 1. The firms are currently negotiating reinsurance coverage for January contracts and are near a formal agreement, Kyodo said without attribution.

Residential Buildings Struck in Kyiv (9 a.m.)

Debris from downed missiles damaged two residential buildings in eastern Kyiv, as well as an industrial compound and playground in the center, the city’s military administration said on Telegram.

Two people were rescued from a residential building and treated for injuries, according to Kyiv Mayor Vitali Klitschko, who warned that the city may experience problems with power supply and urged residents to charge their mobile phones and stock up on water.

JPMorgan to Extend Refugee Program (8:30 a.m.)

JPMorgan Chase & Co.’s Warsaw office is planning to extend a work and training program for Ukrainian refugees for another year after hiring around 50 this summer.

The Wall Street firm expects to recruit a similar number — depending on the war situation — into its 1,200-person Warsaw office, following positive feedback from employees, Paul Brazier, a managing director in the Warsaw office, said in an interview.

French Minister Visits Kyiv (8 a.m.)

Sebastien Lecornu, France’s minister of armed forces, met with Zelenskiy and other top Ukrainian officials in Kyiv Wednesday to discuss additional military support and strengthening Ukraine’s air defenses.

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