US Agrees To Send Advanced Rockets To Ukraine

Story Highlights
  • Biden administration will send Ukraine a high-tech, medium-range rocket.
  • The rocket systems worth $700 million tranche of security assistance for Ukraine.
  • High prices, Asian markets could blunt EU ban on Russian oil.

Russia-Ukraine Crisis: The Biden administration says it will send Ukraine a small number of high-tech, medium-range rocket systems, a critical weapon that Ukrainian leaders have asked for as they struggle to stall Russian progress in the Donbas region.

The rocket systems are part of a new $700 million tranche of security assistance for Ukraine from the US that will include helicopters, Javelin anti-tank weapon systems, tactical vehicles, spare parts and more.

Ukraine could use the rockets in the eastern Donbas region, where they could both intercept Russian artillery and take out Russian positions in towns where fighting is intense, such as Sievierodonetsk.

Meanwhile, oil prices gained slightly on Wednesday after European Union leaders agreed to a partial and phased ban on Russian oil and as China ended its Covid-19 lockdown in Shanghai. EU leaders agreed in principle on Monday to cut 90% of oil imports from Russia by the end of this year, the bloc’s toughest sanctions yet on Moscow.

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