Russia Evacuates Civilians From Border As Ukraine Continues Ground Offensive

Author: Michael Juliano | August 12, 2024 02:48pm

Russia removed civilians on Monday from a second area bordering Ukraine as Kyiv continues a ground incursion into Russian territory.

Ukraine’s military advanced across the Russian border last Tuesday and into the western area of Kursk in an unexpected offensive that may be an effort to boost its position in possible ceasefire talks after the U.S. election in November.

Russia gained some control of the region by Sunday, but Ukraine continued to battle Russian forces there on Monday, according to Russian war bloggers, Reuters reported.

Evacuations began on Monday from the Krasnaya Yaruga District in the adjoining Belgorod region to the south due to Ukraine’s ground offensive into Russia.

Alexei Smirnov, Kursk’s acting governor, said in a meeting with President Vladimir Putin that Ukraine controlled 22 settlements in the region, and that the incursion was about 7.5 miles deep and 25 miles wide.

Read Also: Zelenskyy Lands In Washington As NATO Summit Puts Ukraine Aid First

Ukrainian forces in Kursk were trying to encircle Sudzha, according to the bloggers, where Russian natural gas flows into Ukraine, while major battles were taking place about 14 miles from the border near Korenevo, and in Martynovka.

Since Ukraine’s Aug. 6 border incursion into Kursk, the Russian rouble has lost 6% of its value against the U.S. dollar. Russia’s Gazprom said it would send 39.6 million cubic meters of gas to Europe via Ukraine on Monday.

The U.S. is sending Ukraine an additional $125 million in weapons, including Stinger missiles, 155mm and 105mm artillery ammunition, High Mobility Artillery Rocket Systems (HIMARS) ammunition and vehicles. The U.S. has given $55.6 billion in aid to Ukraine since the conflict began in February 2022, ABC News reported.

Price Action: U.S. ammunition manufacturers that send munitions to Ukraine were trending upward by Monday’s early-afternoon trading.

• RTX Corporation (NYSE:RTX), a company also known as Raytheon which makes Stinger missiles, gained 0.53% to $116.77
• Lockheed Martin Corporation, (NYSE:LMT) which makes HIMARS artillery, ticked up 0.65% to $555.15
• The Spade Defense Index (NYSE:DXS), which serves as a benchmark for firms in the defense, homeland security and defense sectors and is tracked by the Invesco Aerospace & Defense ETF (NYSE:PPA), slipped 0.37%

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Photo: Shutterstock

Posted In: DXS LMT PPA RTX