Ukraine Recap: Russia Launches Missile Attacks In Retaliation

(Source: Marjan Blan on Unsplash)

(Bloomberg) -- Russia launched a barrage of missiles at Ukraine after its Foreign Ministry said an attack on an oil tanker in the Black Sea wouldn't go unanswered.

Moscow's Kinzhal hypersonic weapons and Kalibr cruise missiles were aimed at Ukrainian helicopter engine producer Motor Sich, based in the southeastern region of Zaporizhzhia, and at the western region of Khmelnytskyi, President Volodymyr Zelenskiy said in his nightly address. Some of the missiles were shot down, he said. Russia also dropped a bomb late Saturday on a blood transfusion center in Ukraine's town of Kupiansk in the northern Kharkiv region, Zelenskiy said.

There were no casualties in the sea-drone attack early Saturday on the “Sig” oil tanker in the Kerch Strait, and the vessel is still afloat and scheduled for repair on Sunday, according to Russia's Federal River and Marine Transportation Agency. The tanker was carrying fuel for Russian troops, Ukraine said.

The escalation in the Black Sea came as Ukraine and its allies held talks this weekend with more than 40 countries in Saudi Arabia to build international support for Kyiv's framework for potential peace talks.

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Markets

Oil posted its sixth straight weekly gain, the longest streak in more than a year, after OPEC+ heavyweights Saudi Arabia and Russia extended supply curbs into next month. Wheat futures climbed as much as 4.3%, paring a weekly loss, after the temporary halt to traffic at the Novorossiysk port.