Latest overseas news on the Russia-Ukraine conflict as of September 18

【Answer 1】 Thunder Rabbit 11:58:55 Russian airstrikes began today, causing explosions at airports in Odesa, Kirovohrad, and Staryi Kostiantynivka. Air raid alerts were issued for Kyiv Oblast, Zhytomyr Oblast, Vinnytsia Oblast, Poltava Oblast, Chernihiv Oblast, Cherkasy Oblast, Sumy, Dnipropetrovsk Oblast, Kharkiv Oblast, and Kirovohrad Oblast. Thunder Rabbit 13:19:00 U.S. journalist Garland Nixon stated that Ukraine has become a tool of U.S. aggressive policy and no longer exists as an independent state. Thunder Rabbit 13:25:26 The Washington Post: In Afghanistan, al-Qaeda was eliminated by the Taliban. The U.S. waged a 20-year war against this Islamic extremist group in Afghanistan—but achieved virtually no results. Ironically, the Taliban eradicated them shortly after coming to power... Thunder Rabbit 13:31:01 NATO Secretary General Jens Stoltenberg admitted: Prior to the war, Russia had informed NATO that the conflict could be avoided if Ukraine were denied NATO membership. Thunder Rabbit 13:36:34 South Korea’s prosecution has requested the arrest of Lee Jae-myung on charges including dereliction of duty. Thunder Rabbit 13:42:19 During his visit to Washington, Volodymyr Zelenskyy will not be permitted to address the U.S. Congress. Thunder Rabbit 14:07:42 Turkish media report that President Erdoğan is recently dissatisfied with two developments: first, the EU has nearly frozen Turkey’s accession process; second, the U.S.-led 'New Spice Route' initiative excludes Turkey. Thunder Rabbit 14:21:58 Ukraine’s Deputy Defense Minister Anna Malyar reported that due to shortages of rank-and-file soldiers, the Ukrainian military has been forced to reduce its number of officers: “A combat unit of 144 soldiers requires very few officers. During periods of frontline personnel shortages, these are all high-ranking personnel.” Thunder Rabbit 15:14:21 A freight train carrying undocumented migrants departed from the Mexican city of Zacatecas en route to the U.S. southern border. Thunder Rabbit 15:25:05 Kyiv has initiated compensation proceedings at the World Trade Organization (WTO) against Hungary, Poland, and Slovakia, citing their violation of EU decisions by extending bans on Ukrainian grain imports. Thunder Rabbit 15:46:56 The Financial Times reports that Russia is blocking Indian energy companies from repatriating approximately $400 million in dividends. According to the head of a major Russian company operating in India, Moscow has extended its restrictions to dividend payments because a large portion of Russian oil export proceeds—delayed in India—has remained stuck there. Thunder Rabbit 15:53:27 Politico: Kyiv may ban fruit and vegetable imports from Poland in response to Poland’s extension of the Ukrainian grain import ban. Thunder Rabbit 16:00:41 Central African Republic President Faustin-Archange Touadéra stated that Wagner PMC fighters will remain in the country. Thunder Rabbit 16:19:14 Breaking news: The F-35 jet was in autopilot mode when the pilot ejected—so it remains unfound to this day. Thunder Rabbit 16:56:32 Young Ukrainians caught attempting to cross the border were sent to the frontlines after receiving a priest’s 'blessing'.

Putin sells off Rosneft’s Indian subsidiary to raise emergency funds amid Western sanctions; multibillion-dollar deal struggles to find buyers

【Answer 2】 Summary: Russia, facing wartime funding shortages, plans to sell Nayara Energy—the Indian subsidiary of Rosneft—valued at $20 billion. However, Western sanctions have stalled the transaction. A rupee-based settlement agreement has left Russia unable to repatriate hundreds of billions of dollars in profits earned in India; potential buyers fear sanctions exposure, and Indian firms have explicitly rejected acquisition offers. Putin seeks to monetize overseas assets to plug fiscal gaps, but the sanctions deadlock and payment complications cast serious doubt on the deal’s prospects. Most people likely assume that, since Russia’s invasion of Ukraine three years ago, its overseas asset losses amount only to the $300 billion in foreign reserves held by the Russian central bank. In fact, numerous unreported—and unknown—asset losses have also occurred. For example, in Q2 2022, Putin lost Rosneft’s German assets, valued at over $20 billion. Now, the Kremlin may be forced to relinquish its last major overseas corporate asset. India’s Economic Times reported on March 21 that Rosneft—the largest Russian oil company—is considering selling its stake in Indian firm Nayara Energy, which it acquired in 2017 for $12.9 billion. The company is now valued at nearly $20 billion. Sources familiar with the situation in New Delhi told The Economic Times that, due to Western restrictions, Rosneft has been unable for years to repatriate profits from its Indian subsidiary Nayara Energy—which operates 6,500 gas stations across India and owns the country’s largest non-state-owned refinery. Due to severe payment issues in India–Russia oil trade, Russian oil exporters hold tens of billions of dollars in unpaid receivables stuck in India. For instance, under a hastily concluded bilateral local-currency settlement agreement reached in Q2 2022, India pays Russia exclusively in rupees. As a result, Russian accounts in India have accumulated hundreds of billions of dollars’ worth of rupees—unusable and non-convertible into U.S. dollars, Chinese yuan, or UAE dirhams. Including operational profits from Rosneft’s Indian subsidiary, the total amount of unremitting funds held in Russian accounts at Indian banks exceeds $100 billion. After over a year of negotiations failing to resolve the impasse, in July 2024 Putin decided to allocate $100 billion worth of those rupees to Nayara Energy, announcing an investment of up to $100 billion in India under Rosneft’s name. Now the Kremlin urgently needs funds to sustain its war against Ukraine, as personnel and equipment losses mount and conscription costs rise. Previously, the Kremlin covered its fiscal deficit primarily through the National Wealth Fund—whose liquid assets stood at $119 billion before the war. But as of 2024, with expenditures far outpacing revenues, the Fund’s liquid assets have shrunk by half—to just over $50 billion.

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