Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Ukraine reports progress in east amid rumours of counteroffensive

Published 06/06/2023, 10:45 am
Updated 06/06/2023, 10:45 am
© Reuters

Investing.com - Russia announced on Tuesday that it had successfully stopped a major Ukrainian offensive in the Donetsk region, resulting in heavy losses for Ukraine. Meanwhile, Ukraine has reported positive developments in the eastern conflict but has not confirmed if this signifies the beginning of its long-anticipated counterattack.

According to Russia, Ukrainian forces initiated a large-scale assault over the weekend in southern Donetsk which was subsequently repelled. However, Ukrainian officials have not mentioned any significant new campaign taking place. In his Monday evening address, President Volodymyr Zelenskiy vaguely celebrated "the news we've been waiting for" and advancements made near Bakhmut within Donetsk.

Russian forces entered Ukraine last year on February 24th with an anticipated quick operation but faced multiple setbacks and later regrouped in eastern regions. With tens of thousands of Russian troops surrounding Bakhmut and anticipating a possible Ukrainian counterassault aimed at severing Russia's land connection to Crimea.

The Russian defense ministry claimed massive personnel losses for the attacking Ukrainians along with destroyed tanks and armored vehicles totaling around 1,500 troops lost. These allegations could not be independently verified by Reuters nor did Kyiv provide immediate comments regarding these assertions.

Both countries have previously claimed to inflict substantial human casualties upon each other without independent verification being possible. While The Washington Post reported some US officials believe that a counteroffensive may be underway; White House national security spokesperson John Kirby refrained from confirming or denying such speculations.

Ukraine's defense ministry released a promotional video on Sunday urging discretion about military actions stating that "plans like silence - the beginning will not be announced." The outcome of any potential counteroffensive will likely impact future Western diplomatic and military support for Ukraine significantly.

While Ukrainian Foreign Minister Dmytro Kuleba confirmed on Monday that Ukraine now possesses enough weaponry for a counteroffensive, he did not comment on whether it had commenced.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.