Russia deliberately targeted a building used by the U.S. aerospace and defense giant Boeing in a recent attack on Kyiv,  the Financial Times reported on June 15.

Overnight on June 9-10, Russian forces launched hundreds of drones and seven missiles in one of the biggest attacks on Ukraine, damaging buildings across the capital. One of the targets included Boeing’s office, according to two Boeing employees, three Ukrainian officials, and the head of the American Chamber of Commerce (ACC) in Ukraine, whom the FT spoke with.

"This is not just an attack against Ukraine, but also an attack where American business is being hit," Andy Hunder, President of the ACC in Ukraine, which represents nearly 700 U.S. and international investors and corporate members, told the Kyiv Independent.

"This is a war against a world where American businesses are making money and thriving," he added.

The strikes on Kyiv came after Ukraine surprised Russia with Operation Spiderweb that saw hundreds of drones target four airbases in Russia and damage 41 war planes. Moscow promised to retaliate in response.  

Boeing, one of the largest American companies operating in Ukraine, cooperates with the Ukrainian aerospace and defense company Antonov, with the two companies exploring several joint ventures and opportunities, including in defense.

Boeing told the FT that none of its employees were injured in the attack and that it continues to operate in Ukraine, where it employs some 1,000 people.

Antonov has also suffered from Russian strikes, as have other defense production sites. As Ukraine pushes for domestic defense production instead of relying on foreign imports, Ukrainian officials say that Moscow is attempting to hinder Ukraine’s efforts to manufacture arms.

German defense company Rheinmetall opened up a factory in Ukraine last October to produce a batch of Lynx infantry fighting vehicles. Moscow threatened the company, saying it was a legitimate target, although Rheinmetall said its facilities are well protected.

Russia has repeatedly targeted other Western businesses. Nearly half of the ACC’s members have had facilities damaged or destroyed, but 90% still continue to operate in Ukraine, Hunder said.

"The American business community is here, it continues to operate, and it's united," he added.

With no new US aid packages on the horizon, can Ukraine continue to fight Russia?

The U.S. has not announced any military aid packages for Ukraine in almost five months, pushing Kyiv to seek new alternatives. But time is running out quickly as Russian troops slowly advance on the eastern front line and gear up for a new summer offensive. “While Ukraine’s dependence on

The Kyiv IndependentKateryna Hodunova

Ukraine has received another 1 billion euros ($1.1 billion) in macro-financial assistance from the European Union as part of a G7 loan, Prime Minister Denys Shmyhal announced on June 13.

"This is the fifth tranche of macro-financial assistance from the EU under the ERA Extraordinary Revenue Acceleration) initiative," Shmyhal wrote on social media. "The funds will be directed toward key expenditures of the state budget."

Shmyhal thanked Ukraine's partners for their "consistent and reliable support," adding, "Together, we will make (Russia) pay for all the damage caused to Ukraine."

According to Shmyhal, Ukraine has received a total of 7 billion euros ($8 billion) from the European Union under the ERA initiative, which is funded by the windfall profits generated from immobilized Russian sovereign assets.

The ERA mechanism, launched by the G7 and backed by the EU and the United States, is a $50 billion program designed to support Ukraine through loans repaid using future income from frozen Russian assets. Since Russia's full-scale invasion in 2022, G7 countries have frozen around $300 billion in Russian sovereign assets.

Ukraine received the previous 1-billion-euro tranche on May 8 as part of the fourth installment of EU aid under ERA.

EU provides Ukraine with $1 billion tranche under G7 loan covered by Russian assets

This is the fourth such tranche from the bloc, which is secured by proceeds from frozen Russian assets.

The Kyiv IndependentKateryna Hodunova

Global oil prices soared on June 13  after Israel launched a strike on Iran, triggering fears of a broader conflict in the energy-rich Middle East that could disrupt global supplies, the BBC reported.

The spike threatens to undermine Western efforts to choke off a vital revenue stream for Russia, which relies heavily on oil profits to sustain its war in Ukraine.

According to the BBC, Brent and Nymex crude prices jumped by more than 10% following the Israeli attack, reaching their highest levels since January. Prices later stabilized but remained about 7.5% higher, with Brent at $74.50 a barrel and Nymex at $73.20.

The price surge comes at a crucial time for Ukraine and its Western allies, who are intensifying efforts to minimize the Kremlin's oil revenues — the backbone of Russia's wartime economy.

President Volodymyr Zelensky urged the European Union on June 11 to impose tougher sanctions on Russia, including a more aggressive price cap on oil exports.

"A ceiling of $45 per barrel of oil is better than $60, that's clear," Zelensky said at the Ukraine-Southeast Europe Summit in Odesa. "But real peace will come with a ceiling of $30. That's the level that will really change the mindset in Moscow."

The EU's current $60 per barrel cap, introduced in December 2022, prohibits Western companies from shipping, insuring, or servicing Russian oil sold above the threshold. While this measure has curtailed some of Russia's profits, the Kremlin continues to earn significant revenue, especially when market prices rise.

European Commission President Ursula von der Leyen said on June 10 that the EU is considering lowering the cap to $45, a move that will be discussed at the G7 summit in Canada between June 15 and 17. According to Reuters, most G7 countries, excluding the U.S. and Japan, are prepared to proceed with the reduction regardless of Washington’s stance.

Israeli Prime Minister Benjamin Netanyahu said early on June 13 that Israeli forces had launched "Operation Rising Lion," a preemptive strike targeting Iran's nuclear program. In a televised address, Netanyahu claimed Israeli forces struck Iran's main nuclear enrichment site in Natanz and targeted key nuclear scientists.

Key to Russia’s defeat lies in its economy

As the war in Ukraine grinds on, attention remains fixed on the battlefield. But Russia’s most vulnerable flank is not in the trenches — it’s in the treasury. The West, and especially the United States, holds economic levers that could push Vladimir Putin toward serious negotiations or even collapse

The Kyiv IndependentWojciech Jakóbik

The Council of the EU on June 12 approved fresh tariffs on fertilizers and remaining agricultural goods from Russia and Belarus, aiming to reduce Russian export revenues.

The measures target those goods that have not yet been subject to additional customs duties and will enter into force on July 1. The tariffs on fertilizers will increase gradually over the next three years.

The step comes as the EU readies additional sanctions against Russia as it continues to wage its all-out war against Ukraine.

"Polish Presidency motto is 'Security, Europe!' and these measures increase our economic security by reducing dependencies from Russia," said Michal Baranowski, the trade undersecretary at the Polish Economy Ministry.

"We are further reducing Russia’s export revenues and therefore its ability to finance its brutal war. This is united Europe at its best," he said in a statement.

The new tariffs will apply to goods that made up around 15% of all agricultural imports from Russia in 2023. Fertilizer tariffs will focus on certain nitrogen-based products, the Council said in a statement.

Russian fertilizers accounted for more than a quarter of all of the EU's imports in this sector in 2023, worth almost $1.5 billion.

Apart from stifling Russia's trade revenue, the step also aims to reduce the EU's dependence on Russian and Belarusian goods, protect European farmers, and diversify the supply.

The EU adopted higher tariffs on cereals, oilseeds, and some other products from Russia and Belarus in May 2024. Earlier this year, the European Commission proposed imposing similar measures on all remaining agricultural products from the two countries.

Putin’s suspected daughter found working in anti-war galleries in Paris

Nastya Rodionova, a Russian writer and artist who has been based in Paris since 2022, had only met gallery manager Luiza Rozova in passing at events before she learned who the 22-year-old’s parents were. Described by a number of people as a “very nice and well-mannered girl,” Rozova is

The Kyiv IndependentKate Tsurkan