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The stalled effort is actually “some kind of preparatory operation,” the Ukrainian Defense Minister insists Expected results from Kiev’s ongoing counteroffensive against Russia have been “overestimated,” Ukraine’s Defense Minister Alexey Reznikov has claimed. The offensive by Ukrainian forces should be treated as “some kind of preparatory operation” rather than a decisive battle, he added.

The central bank had previously hiked rates at five successive meetings over a six-month period Russia’s central bank left its key interest rate unaltered at 16% at its scheduled meeting on Friday, saying that tight monetary policy will be necessary to return stubborn inflation back to target levels.