Recent US sanctions on Gazprombank have caused the Russian ruble to plummet to its lowest level since the beginning of the Ukraine invasion, significantly impacting Russia’s already strained economy. This sharp decline, exceeding a third since August, is fueled by decreased oil prices and increased military spending, which has more than tripled since 2021. The sanctions limit Russia’s access to global finance, hindering its ability to fund the war and receive commodity revenues. While the Russian government claims the volatility is due to external factors and a strong dollar, experts warn of an overheating economy and the difficulties of combating inflation with a weak ruble.
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A Russian espionage ring, led by Orlin Roussev and Biser Dzhambazov (who pleaded guilty), utilized two female operatives, Vanya Gaberova and Katrin Ivanova, as honey traps. Gaberova and Ivanova, along with Tihomir Ivanchev, deny spying charges. The ring, operating across multiple European cities, targeted journalists, dissidents, and even a Ukrainian military training base. Their actions, utilizing the women to gather intelligence, placed numerous lives at risk.
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A drone attack on November 29th ignited a significant fire at an oil depot in Russia’s Rostov region, consuming two separate petroleum reservoirs. Governor Yuri Slyusar confirmed the incident and the resulting large fire at an industrial facility. The Russian Ministry of Defense claimed to have intercepted 47 drones across multiple regions, including 29 in Rostov. Reports indicate the fire occurred at a depot in the Kamensky district.
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In a massive overnight attack, Russia launched nearly 200 missiles and drones targeting Ukrainian cities and energy infrastructure, causing widespread power outages. This attack underscores the critical need for continued support of Ukraine’s defense. The U.S. has prioritized air defense exports to Ukraine, delivering hundreds of missiles and other critical military aid, including artillery and armored vehicles. This aid is part of a broader international effort involving over 50 countries committed to supporting Ukraine’s fight for freedom. The resilience of the Ukrainian people continues to defy Russian expectations.
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On Friday, eleven military aircraft from China and Russia, including bombers and fighter jets, entered South Korea’s KADIZ without prior notification. The planes, which entered consecutively over the East Sea and waters off the southern coast, conducted a joint flight over waters south of Dokdo before departing. South Korea’s Air Force responded by deploying fighter jets to monitor the situation. This joint flight, assessed as a combined military exercise, marks a continuation of similar, unannounced incursions by both nations into the KADIZ since 2019. Although entering the KADIZ, the aircraft did not violate South Korean airspace.
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A Belarusian Investigative Center report details a Russian-operated torture chamber in Naroulia, Belarus, active in spring 2022. Ukrainian prisoners of war and civilians were held and tortured at this camp, located on Belarusian government-owned property near the Ukrainian border. Human rights activists and former prisoners corroborated the brutal treatment, citing severe beatings and constant screams. The camp’s operation potentially violates the Geneva Convention, given the commingling of prisoners of war and civilians.
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On November 28th, Russia launched a widespread missile and drone attack targeting Ukraine’s energy infrastructure, impacting numerous regions including those far from the border. Explosions were reported across the country, with strikes on critical infrastructure facilities and residential areas causing damage and at least one injury. In response to the “massive blow,” Ukrenergo implemented emergency blackouts. This attack, part of a pattern of intensified strikes on Ukraine’s power grid, underscores Russia’s strategy of targeting civilian infrastructure amidst the ongoing war.
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On November 28th, Ukraine’s HUR reported the destruction of a Russian 48Y6-K1 Podlet radar station near Kotovske, Crimea. This modern, approximately $5 million radar system, designed for low-altitude target detection, was reportedly destroyed in an operation claimed by HUR, though verification is pending. This attack follows a series of explosions across Crimea, adding to Ukraine’s ongoing targeting of Russian military assets in occupied territory. The incident highlights continued Ukrainian offensive action in the region.
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North Korea maintains strict secrecy surrounding its troops’ casualties in Russia, with families receiving minimal information and the public remaining unaware. The government treats fallen soldiers as expendable, prioritizing regime security over individual lives. This secrecy extends to the troops’ deployment itself, enforced through censorship and the threat of punishment under the 2023 State Secrets Protection Law. Meanwhile, the elite Storm Corps, known for rigorous training simulating South Korean infiltration, continues its operations, fueling concerns of potential future aggression.
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The Russian ruble plummeted to its lowest point since March 2022, reaching 114 against the dollar, prompting the central bank to intervene and halt foreign currency purchases for the remainder of the year to curb market volatility. President Putin attributed the fluctuations to budget payments and seasonal factors, while Kremlin spokesperson Dmitry Peskov downplayed the impact on ordinary citizens. However, experts like Timothy Ash of BlueBay Asset Management view the weakening ruble as a sign of a worsening economic crisis, exacerbated by new US sanctions on Gazprombank and the ongoing war in Ukraine. This economic decline is characterized by high inflation, despite interest rate hikes, and is further complicated by the government’s increased defense spending.
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John Q. Hosedrinker