What you need to know right now By Reuters

(Reuters) – Ukraine mentioned its forces may possibly want to retreat from their final pocket of resistance in Luhansk to stay clear of getting captured by Russian troops pressing a rapid progress in the east that has shifted the momentum of the a few-thirty day period-previous war. [L3N2XK00D]

Combating

* In the Kherson location north of Russian-held Crimea, Ukrainian officers explained Russian forces had been fortifying their positions and trapping civilians with continuous shelling.

* The U.S. Military has awarded a deal worth up to $687 million to Raytheon (NYSE:) for anti-plane Stinger missiles to replenish stocks despatched to Ukraine, resources mentioned.

DIPLOMACY

* Zelenskiy stated Russia was weaponising a world-wide food items offer disaster and the world must reduce substantial-scale famine. Moscow did not show up all set for serious peace talks, he stated. The Kremlin blamed Kyiv for stalled peace talks.

Overall economy

* The EU is in search of a deal this weekend to ban Russian oil deliveries by sea but not pipeline to win around Hungary. Zelenskiy has accused the EU of dithering.

* Russia will will need enormous financial sources to fund its armed forces operation in Ukraine, its finance minister stated. The overall economy minister blamed Russia’s financial difficulties on lower family investing.

* Russia said it paid out coupon codes in international forex on two Eurobonds, a transfer that could indicate it all over again averted default.

* S&P minimize Ukraine’s credit rating to ‘CCC+/C’ from ‘B-/B’, citing a greater impression from Russia’s attack on the nation.

Rates

* “We are exhausted of remaining so frightened,” Natalia Kovalenko, a resident of the ruined metropolis of Popasna, advised Reuters as she sheltered in the wreckage of her flat.

COMING UP

* An EU summit on Monday and Tuesday could see divisions involving associates who want to consider a challenging line against Russia and those calling for a ceasefire.