Ukraine Recap: Zelenskiy Pledges a Big Defense Budget Next Year

(Bloomberg) -- Ukraine’s President Volodymyr Zelenskiy said defense and security spending for next year “will be as much as this year’s level,” at 1.6 trillion hryvnia ($43.8 billion). “At least!,” he added. In his nightly address, he said nearly 100 billion hryvnia (almost $3 billion) would go directly for weapons production, including Ukraine’s “drone army,” which he said is showing strong results.

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Ukraine’s infrastructure minister said two Danube ports continued to operate after Russian drone attacks, while the nation’s military intelligence service said a Russian assault ship and a submarine had been damaged in an attack carried out on a shipyard in annexed Crimea.

Russian President Vladimir Putin and North Korean leader Kim Jong Un held their first summit in four years, meeting at a space center in the Amur region. Putin said North Korea was interested in Russian space rockets and his country would potentially be willing to help it build satellites, according to the state-run RIA Novosti news service.

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Russian oil-export revenues rose to a 10-month high in August, according to the International Energy Agency. The nation received $17.1 billion last month from overseas supplies of crude oil and petroleum products, $1.8 billion more than in July, the agency said in a monthly report.

Coming Up

  • North Korea’s Kim Jong Un continues Russia visit this week, with plans to go to Komsomolsk-on-Amur and Vladivostok

  • Russian and Chinese foreign ministers plan to hold talks on Sept. 18 in Moscow, according to Tass

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