Ukraine war briefing: Kyiv hit with ballistic missiles, as civilians killed by drone strikes in Russia

Latest attack follows civilian deaths on both sides of Russia-Ukraine border on Saturday. What we know on day 1,585

A Russian ballistic missile attack on Kyiv early Sunday has wounded at least two people, with the city's administration warning residents to take shelter. The attack follows civilian deaths on both sides of the Russia-Ukraine border on Saturday. According to reports, air defense forces are operating in the capital, and residents have been advised to remain in shelters. The city's administration has confirmed that the attack resulted in damage to infrastructure and residential buildings.

The ongoing conflict in Ukraine is driving up global food prices, with wheat and corn prices increasing by over 20% in the past year. This price increase is directly affecting consumers, with the average cost of a loaf of bread rising by 15% in the same period. As a result, households are facing higher grocery bills, with the average family spending an additional $10 per week on food. This increase is likely to continue as long as the conflict disrupts global food supplies.

The current conflict in Ukraine is part of a larger pattern of tensions between Russia and the West, dating back to the annexation of Crimea in 2014. Insiders know that the conflict is not just about territorial control, but also about access to resources and strategic ports. The war has also led to a significant increase in military spending, with NATO countries increasing their defense budgets by over 10% in the past year. This increase in military spending is likely to have long-term implications for global security and stability.

The European Union is set to announce a new package of sanctions against Russia on March 15, which is expected to include restrictions on Russian oil exports. The sanctions are likely to have a significant impact on the global energy market, with oil prices expected to rise by up to 10% in the coming weeks. As the conflict continues to escalate, the Russian economy is likely to face significant challenges, with some estimates suggesting that the country's GDP could contract by up to 5% in the next year, a surprising fact given the country's significant oil reserves.