Zelensky highlights strategic gains and disruptions in the latest address. In a recent address, President Volodymyr Zelensky reported that Ukrainian Defence Forces are securing strategic positions within Russia and capturing enemy soldiers, bolstering Ukraine’s reserves for future prisoner exchanges. Zelensky underscored the significance of these operations, noting that territorial gains and captured soldiers will be pivotal in negotiating the release of Ukrainian citizens held by Russia. He also pointed out that by extending the conflict into Russian territory, Ukraine is disrupting Russia’s ability to concentrate its military efforts in the Donetsk region. This statement was delivered in a video address marking the 917th day of the war, shared on YouTube.
Ukrainian forces report escalated Russian attacks in new areas on the frontline. The General Staff of the Ukrainian Armed Forces has reported a marked escalation in Russian efforts to penetrate deeper into Ukrainian territory, with a sharp uptick in the frequency of attacks. On August 28, 2024, Ukrainian defence forces repelled 111 enemy assaults, with the heaviest concentration of Russian efforts focused on the Pokrovsk axis. Russian forces are also intensifying operations in the Kupiansk and Kurakhiv sectors. The report highlighted continued Russian airstrikes on border regions in Sumy, particularly targeting areas such as Pustohorod, Bilopillia, Horile, and Basivka. Additionally, the General Staff noted that Russian military activities are beginning to affect civilian infrastructure within Russia itself.
Ukrainian drones target Russian oil depots deep inside Russia in the Kirov region. Ukrainian media outlet Suspilne reports that on August 28, drones operated by the Main Intelligence Directorate of Ukraine’s Ministry of Defence targeted the Zenit oil depot near Kotelnich in Russia’s Kirov Oblast. According to sources within Ukrainian intelligence, the strike was carried out using domestically-produced kamikaze drones. This attack is notable as the first instance of Ukrainian drones hitting a target in Kirov Oblast, a region over 1,200 kilometres from the Ukrainian border. The Zenit facility, integral to Russia’s defence-industrial complex, provides fuel to Russian forces involved in the conflict in Ukraine. Earlier, Aleksandr Sokolov, the governor of Kirov Oblast, confirmed that drones had struck a fuel storage facility in the city of Kotelnich, which, according to public records, is used for storing oil and its derivatives. On the same day, drones also targeted the Atlas oil depot in Russia’s Rostov Oblast, causing a fire.
NATO reaffirms support for Ukraine with new security aid. At a NATO-Ukraine Council meeting on August 28, 2024, NATO allies reaffirmed their commitment to strengthening Ukraine’s defence capabilities in response to ongoing Russian airstrikes targeting civilians and infrastructure. NATO Secretary-General Jens Stoltenberg stressed the vital importance of continued military aid, including the supply of equipment and munitions, to ensure Ukraine can sustain its defences. The meeting convened at Ukraine’s request at the ambassadorial level underscored the allies’ pledge to provide at least €40 billion in security assistance over the next year. Discussions also covered establishing a new NATO command, set to become operational in September, to coordinate security aid and training for Ukraine.
Ukraine secures creditor approval for $23 billion Eurobond restructuring. In financial developments, Ukraine and its state road agency, Ukravtodor, have secured creditor approval to restructure approximately $23 billion in Eurobonds. The agreement, reached with a creditor committee, facilitates the exchange of the existing bonds for new dollar-denominated Eurobonds, maturing between 2029 and 2036. The restructuring terms include a 37% reduction in debt, with provisions for partial recovery contingent on Ukraine’s GDP performance by 2028. According to details shared by Interfax Ukraine, the Ukrainian Ministry of Finance anticipates final settlements to take place on August 30, 2024.
