Latest news with #28thSaintPetersburgInternationalEconomicForum
Newsweek
10 hours ago
- Politics
- Newsweek
Putin Sending Dead Russian Soldiers to Ukraine To Hide Losses: Zelensky
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Russia sent to Ukraine some of its dead troops in a prisoner and body exchange to hide Moscow's true battlefield losses, according to Volodymyr Zelensky. The Ukrainian president said that Vladimir Putin was using the return of war dead to obscure the scale of military losses from the Russian public. "Putin is afraid to admit how many people have died," Zelensky told the media briefing, according to the Kyiv Independent. Newsweek has contacted the Russian defense ministry for comment. Vladimir Putin is pictured at the 28th Saint Petersburg International Economic Forum SPIEF 2025, June 20, 2025, in Saint Petersburg, Russia. Vladimir Putin is pictured at the 28th Saint Petersburg International Economic Forum SPIEF 2025, June 20, 2025, in Saint Petersburg, Russia. Why It Matters Ukraine's General Staff said on Saturday Russian forces have sustained over 1,010,000 casualties—killed and wounded—since the start of the full-scale invasion. While both sides keep tight-lipped about losses, Zelensky is accusing Moscow of hiding the scale of losses from the Russian public for fear of undermining any future mobilization. What To Know Zelensky's comments follow a prisoner and body exchange agreement in Istanbul on June 2 which was the most extensive of the full-scale war. Ukraine recovered 6,057 bodies of its fallen soldiers while Russia took back only 78, according to Kremlin aide Vladimir Medinsky. Zelensky has said the vast majority of Russian soldiers killed on the battlefield remain in Russian hands. But at least 20 of the bodies Russia returned as Ukrainian were actually Russian soldiers, some of whom had Russian passports according to Zelensky as part of a policy by Moscow to "break the reality in which we live." The Ukrainian president also cited the case of an Israeli citizen who had died fighting on Russia's side whom Moscow had passed off as a Ukrainian soldier. Ukrainian Interior Minister Ihor Klymenko had said on Thursday the remains of Alexander Viktorovich Bugaev, from Russia's 39th Separate Guards Motorized Rifle Brigade, had been returned to Ukraine disguised as a Ukrainian casualty. Independent Russian outlet Mediazona, along with the BBC Russian Service, has verified the identities of 111,387 Russian soldiers killed but with the caveat that the official proof required meant actual number is likely much higher. What People Are Saying Ukrainian President Volodymyr Zelensky, per Kyiv Independent: "Putin is afraid to admit how many people have died. Because if the moment comes when he needs to mobilize, his society will be afraid." Ukrainian Interior Minister Ihor Klymenko: "This shows how little human life means to Russia. Or maybe it's just a way to avoid paying compensation to the families." What Happens Next Russia is likely to continue to suffer huge losses amid marginal battlefield gains. It comes as Ukraine's military intelligence (HUR) reported on Saturday that Moscow is recruiting migrant workers from Central Asia as "cannon fodder." Migrant workers from Uzbekistan, Tajikistan, and other countries in the region are joining Russia's armed forces under duress and are used in the most dangerous areas of the front line.
Straits Times
a day ago
- Business
- Straits Times
Russia must not let economy slip into recession, says Putin, after minister issues warning
Participants watch Russian President Vladimir Putin's speech on a TV screen at the 28th Saint Petersburg International Economic Forum on June 20. PHOTO: EPA-EFE Russia must not let economy slip into recession, says Putin, after minister issues warning ST PETERSBURG, Russia - Russia's economy must under no circumstances slide into recession, President Vladimir Putin told an economic forum on June 20, in a clear instruction to assembled government ministers and central bankers. The Bank of Russia hiked its key interest rate to the highest level since the early 2000s in October, seeking to curb stubbornly high inflation, before cutting it by one percentage point to 20 per cent earlier this month. The Kremlin has said this easing did not go far enough, as the economy threatens to cool too quickly after running hot for two years thanks largely to huge increases in defence spending on the war in Ukraine. 'Our most important task is to ensure the economy's transition to a balanced growth trajectory,' Mr Putin said, in a keynote speech at the St Petersburg International Economic Forum. Consumer inflation is running at 9.59 per cent on an annual basis, according to the economy ministry, well above the central bank's 4 per cent target, but has been gradually easing since late April. 'Balanced growth is moderate inflation, low unemployment, and continued positive economic dynamics... At the same time, some specialists and experts point to the risks of stagnation and even recession. This should not be allowed under any circumstances,' Mr Putin said. Economy Minister Maxim Reshetnikov, in a downbeat message to Russia's showcase economic event, said on June 20 that the economy was on the verge of sliding into recession and monetary policy decisions would determine whether it falls into one or not. Pressure on the central bank is mounting. Central Bank Governor Elvira Nabiullina, credited with steering Russia through a serious of crises since being appointed in 2013, has also faced criticism from lawmakers and prominent businessmen, often over high interest rates or rouble volatility. She has remained in post thanks to Mr Putin's personal support. Russian Economic Development Minister Maxim Reshetnikov delivered a downbeat message at Russia's showcase economic event. PHOTO: REUTERS 'It's time to cut the rate and start heating up the economy,' Deputy Prime Minister Alexander Novak said on June 20. Demand for credit is weak, said Mr German Gref, chief executive officer of Russia's largest lender Sberbank, calling for faster rate cuts to incentivise companies to invest. 'It is especially worrying that we, as the largest bank, which finances... almost 60 per cent of all investment projects in the country, have not financed a single new project since the new year,' Mr Gref said on June 20. 'Serious problem' Businesses, complaining for months about high rates stifling investment, have continued to bang the drum for a cut, with Mr Alexey Mordashov, steelmaker Severstal's largest shareholder, warning that certain businesses were downsizing or shutting down. 'We are on the brink of a serious credit servicing the number of bankruptcies is growing,' Mr Mordashov said, warning that more businesses may become disillusioned with high rates and simply choose to hold money on high-interest deposits instead. Steel consumption was down 14 per cent in January-May compared with the same period of 2024, Mr Mordashov said, highlighting how investment activity is down, hurting Russia's long-term development and competitiveness. 'This cooling is a serious problem right now,' Mr Mordashov said. 'And to continue with this (monetary) policy is fraught with the intensification of these negative consequences.' REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
