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Ukraine Receives $690 Million IMF Disbursement Amid War

The IMF has approved a $690 million disbursement for Ukraine under its $8.1 billion loan program, bringing total funding to about $2.2 billion as Kyiv maintains macroeconomic stability amid ongoing war. While targets have been met, several structural reforms slowed or were delayed, prompting a revised reform timetable and additional corrective measures to keep the program on track amid heightened security risks and a projected slower 2026 growth.

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European Union

EU Halts Venice Biennale Funding Over Russia

The European Union halted a €2 million grant to Fondazione La Biennale di Venezia after approving the reopening of the Russian pavilion at the Venice Biennale, citing democratic values, open dialogue, diversity, and freedom of expression. The move follows widespread protests from Kyiv and the EU and comes amid broader backlash to Russia’s participation in a biennale that had been boycotted since its invasion of Ukraine in 2022.

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Russia-Ukraine War

MiG-29 destroyed at Kursk airfield, Ukraine says

Ukraine’s General Staff says the 15th Separate Artillery Reconnaissance Brigade “Black Forest” struck Khalino airfield in Kursk Oblast, destroying a MiG-29 and a Pantsir-S1 system as part of a broader campaign to degrade Russia’s air defenses and military infrastructure; officials indicated ongoing, systematic strikes and released video of the operation. Other reported targets that night included radar sites, drone depots, and logistics facilities, underscoring Kyiv’s aim to curb Russian attacks and sustain pressure on the frontline.