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March 30, 2022

Russia to reduce military activity near Ukraine’s Kyiv and Chernihiv

Russian and Ukrainian delegations recently met in Turkey for peace talks.

Understand the impact of the Ukraine conflict from a cross-sector perspective with the Global Data Executive Briefing: Ukraine Conflict

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Latest Updates on the Ukraine/Russia Crisis

Whilst at its core a humanitarian crisis, the Russian invasion of Ukraine risks adding materially to existing global economic and supply challenges. We are likely heading into a period in which geopolitics will become a regular part of boardroom discussions. Recent developments have seen Russian companies make significant progress around the world to supply countries with equipment in various Aerospace, Defense & Security sectors. This means that countries dependent on Russian arms for their security calculations should review all purchases and clauses regarding their programs and payments. Download GlobalData’s 5th Ukraine Conflict Executive Briefing to learn more. This report is part of a continued series that is renewed monthly with the latest data and analysis, as the conflict develops and has wider implications across sectors. Access the latest macro-economic forecasts, charts with the latest data, and our updated sanctions tracker, as well as our updated sector scorecards to reflect the current views on the impact of the crisis at a company level.
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Russia has said that it will reduce military operations near the Ukrainian capital of Kyiv, and the northern city of Chernihiv.

According to a Reuters report, Russian Deputy Defence Minister Alexander Fomin made the commitment in a bid to strengthen mutual trust between the two sides amid peace negotiations.

Russian and Ukrainian delegations met in Turkey’s Istanbul for talks to achieve a ceasefire.

Minister Fomin was quoted by the news agency as saying: “In order to increase mutual trust and create the necessary conditions for further negotiations and achieving the ultimate goal of agreeing and signing [an] agreement, a decision was made to radically, by a large margin, reduce military activity in the Kyiv and Chernihiv directions.”

At the meeting, Ukraine proposed that it will adopt a neutral status and sought security guarantees.

The neutrality status implies that Ukraine will not host military bases or join military alliances, such as Nato, in the future.

On 24 February, Russia launched a military operation on neighbouring Ukraine. The conflict has now been ongoing for more than one month, with Russia continuing major offensive operations in the eastern and southern parts of Ukraine.

Several European countries have stepped up defences in response to the Ukraine crisis.

German Defence Minister Christine Lambrecht said that it will bring a division to combat readiness in 2025. Before the conflict, the country planned to have a combat-ready division in 2027, and three by 2032.

Italian Prime Minister Mario Draghi’s office said that the government will increase defence spending. It aims to increase military expenditure to 2% of the national GDP, up from the existing 1.4%.

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Free Report
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Latest Updates on the Ukraine/Russia Crisis

Whilst at its core a humanitarian crisis, the Russian invasion of Ukraine risks adding materially to existing global economic and supply challenges. We are likely heading into a period in which geopolitics will become a regular part of boardroom discussions. Recent developments have seen Russian companies make significant progress around the world to supply countries with equipment in various Aerospace, Defense & Security sectors. This means that countries dependent on Russian arms for their security calculations should review all purchases and clauses regarding their programs and payments. Download GlobalData’s 5th Ukraine Conflict Executive Briefing to learn more. This report is part of a continued series that is renewed monthly with the latest data and analysis, as the conflict develops and has wider implications across sectors. Access the latest macro-economic forecasts, charts with the latest data, and our updated sanctions tracker, as well as our updated sector scorecards to reflect the current views on the impact of the crisis at a company level.
by GlobalData
Enter your details here to receive your free Report.

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