Ukraine launched a series of missile attacks on the Russian port of Taganrog, causing a fire at an oil depot and damage to an industrial facility. Simultaneous drone attacks targeted the Bryansk region. These escalating actions come as US President-elect Trump vows a swift resolution to the conflict.
Global markets experienced a sharp downturn on Tuesday following Iran’s missile strikes on Israel, fueling fears of a wider regional conflict. The strikes, in retaliation for the killing of Iranian commanders, were met with Israeli air defenses and resulted in no significant damage. The escalating tensions sent oil prices soaring and triggered a flight to safety, pushing gold to a record high. Meanwhile, a US port strike threatens to disrupt supply chains and further fuel inflation, adding to economic concerns.
Russia has escalated its missile strikes on Kharkiv, Ukraine’s second-largest city, in an attempt to intimidate and limit access to information. The Kremlin seeks to exploit Ukraine’s shortage of air defense systems and potentially launch a ground assault. Amidst these attacks, Western nations have pledged significant military aid to Ukraine, including long-range artillery and missiles. The U.S. is set to vote on $61 billion in war aid, while Britain has committed 500 million pounds in supplies. However, the European Union has yet to provide concrete support for air defense, and Ukraine plans to crack down on young men of conscription age who have left the country.
