Ukraine Recap: Russia’s Ruble Policy Creates Sparring Factions

(Bloomberg) -- All four Moscow-area airports were briefly closed early Friday and planes diverted as air defense repelled a drone, according to Russia’s aviation watchdog. The UAV was taken down and fell on what was described as a non-residential building a few miles from the Kremlin. Moscow’s mayor reported no casualties and no significant damage. Ukraine hasn’t commented.

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The rescue operation this week for Russia’s currency, including an emergency rate meeting and informal measures of capital control, revealed a government that’s split on matters of critical economic priorities, at a time President Vladimir Putin is trying to sustain the biggest conflict in Europe since World War II.

Denmark and the Netherlands said they’ve received US approval to send their F-16 fighter jets to Ukraine as soon as pilots there have been trained on the advanced aircraft. Romania and Ukraine signed an agreement aimed at increasing trade and traffic as the nations work toward a recent pledge to double the quantity of Ukrainian grains transited through Romania, to about 4 million tons per month, Premier Marcel Salacious said. Over 60% of Ukraine’s grain could be exported through Romania, he said.

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Markets

Wheat Rises, Oil Braces for a Weekly Loss

Wheat prices rose overnight following a report that a Ukrainian sea drone attempted to attack two Russian warships in the Black Sea.

Oil headed for its first weekly loss since June as low trading volumes left the market vulnerable to macroeconomic concerns, overshadowing signs of a tight physical environment.

Coming Up

• Russian President Putin may hold regular Security Council meeting

• Russian Foreign Minister Lavrov at BRICS summit next week

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