Main news of the day – The New Voice of Ukraine newsletter

4 August, 02:12 PM
HIMARS (Photo:General Staff)

HIMARS (Photo:General Staff)

This newsletter was compiled by Romeo Kokriatski, Managing Editor of the  New Voice of Ukraine Tuesday, August 4th, 2022.

•   A Yale study has revealed that over 1,000 multinational companies have quit or drawn down operations in Russian since Feb. 24.

The study, conducted by Yale’s Chief Executive Leadership Institute team, also identified at least 237 firms that are continuing to conduct business as usual, with no changes to planned investments or operations. Firms were sorted into grades from A to F, depending on their current status in Russia, with A indicating that a firm has quit the Russian market completely, and F indicating no change since the beginning of the full-scale invasion. A number of well-known U.S. companies fill the F tier, among them Steam gaming platform operator Valve, kitchen product company Tupperware, and content delivery network Cloudflare.

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•   Russia is failing to contain Ukrainian advances near Izyum, in Kharkiv Oblast.

According to Conflict Intelligence Team expert Kyrylo Mykhailov, the Russian reserves in the area are simply not enough to hold off Ukrainian forces, much less conduct a fresh offensive, as some commentators had previously predicted. Izyum, located on the southern edge of Kharkiv Oblast and occupied since April 2022, represents a key strongpoint for the occupying power, allowing them launch offensives both north into Kharkiv and south into the Ukrainian-controlled parts of Donetsk Oblast.

•   Ukraine’s first grain cargo ship since the start of the full-scale war has safely made it to Turkey and will now undergo inspections.

The ship, Razoni, is the first grain cargo ship to sail under the terms of the Turkey and UN brokered Istanbul Agreements, and is carrying 26,000 tons of corn. Representatives from Ukraine, Turkey, Russia, and the UN have all boarded the vessel, in order to carry out inspections authorized by the Agreements. 27 additional vessels await departure from Ukraine, and Turkey has signaled it is prepared to receive one per day.

•   Ukraine’s Foreign Minister Kuleba has shot back at recent statements by Hungary’s Orban suggesting that the West should focus on peace over Ukrainian victory.

Kuleba called Orban’s comments “unpleasant and emotional”, but noted that Ukrainian-Hungarian cooperation will continue “as long as Hungary's statements do not coincide with its actions.” Despite Orban’s inflammatory rhetoric (the Hungarian PM called Ukraine’s Zelensky his “opponent”), Hungary has so far joined in EU sanctions against Russia, and supported Ukraine’s bid to gain EU candidate status.

•   Internet banking giant Monobank is offering clients forex term deposits.

Monobank, one of Ukraine’s largest internet bank service providers, will now sell clients foreign currency – though the funds must first be placed into unaccessible deposit accounts for three months before they can added to debit accounts. Ukrainians are still limited to purchasing a maximum of $1,300 per month, due to current capital restrictions. Monobank clients purchased $2.3 million worth of USD within hours of the service becoming available.

•   The day’s long read: Israeli military expert Yigal Levin says Russia lacks the capability to launch a new major offensive.

In an interview with NV Radio, Levin explains why rumors of new Russian attacks on Kyiv, Kharkiv, and Odesa are unlikely to occur, and how the Russian military may try to trick Ukraine into diverting forces from counter-offensives in Donetsk and Kherson oblasts.

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