Live News: Explosions rock Kiev as Russian airstrikes intensify

The Ukrainian capital of Kiev was rocked by more than a dozen explosions around 3 a.m. on Tuesday, half an hour after air raid sirens sounded a nationwide warning that invading Russian forces were retaking the air strikes on the country.

Financial Times correspondents heard several explosions, marking one of the loudest barrages to hit the city in recent months. Details of the damage and casualties weren’t immediately clear.

Andriy Yermak, chief of staff to Ukrainian President Volodymyr Zelenskyy, said in a statement on social media that “the air defenses are working on the targets”.

The United States said on Monday it would impose tougher sanctions on the transfer of Iranian drones to Russia for use in the invasion of Ukraine.

National Security Council spokesman John Kirby said new details about Russia-Iran cooperation had emerged, including plans to sell more advanced aircraft to Russia. Since August, Iran has already supplied 400 drones and Russia has spent most of them.

Iran, in turn, is seeking billions of dollars worth of military equipment from Russia, including fighter jets and attack helicopters, Kirby said.

He added that the United States will hold those involved in the trade accountable and announce “new steps” to help governments and businesses better understand the risks posed by Iran’s drone program.

US-China: US Secretary of State Antony Blinken, Defense Secretary Lloyd Austin and Commerce Secretary Gina Raimondo will testify at the Senate Appropriations Committee hearing on US-China relations.

Data: China releases data on April retail sales, industrial production and unemployment. The Reserve Bank of Australia releases the minutes of its latest monetary policy meeting. Westpac releases its latest data on Australian consumer sentiment.

Earnings: Singapore Sea technology group, Singapore Airlines and Chinese research firm Baidu release earnings.

Events: Industry group Airports Council International opens its first Asia-Pacific regional conference and exhibition since the start of the coronavirus pandemic in Kobe, Japan. Carlyle Asia wraps up its two-day investor meeting at the Four Seasons Hong Kong.

Ukraine’s anti-corruption bodies said they had uncovered corruption at the country’s Supreme Court.

The country’s anti-corruption bureau and specialist anti-graft prosecutor’s office said in a joint statement on Monday that they had “exposed large-scale corruption in the Supreme Court, namely a scheme to receive improper benefits from the leadership and justices of the Supreme Court”.

The groups said in a statement posted on social media that “urgent investigative actions are currently underway. Details later.” The post included photographs of large stacks of cash on a sofa.

Elon Musk is being subpoenaed over documents by lawyers seeking to ascertain whether he was introduced to JPMorgan Chase by late sex offender Jeffrey Epstein.

In a Monday statement, the US Virgin Islands, which is suing JPMorgan over its alleged role in funding Epstein’s human trafficking operation in the territory, said it had attempted to serve the Tesla chief executive on multiple occasions in recent weeks.

USVI attorneys said the request for documents was made because Musk is “a high net worth individual who Epstein may have reported or attempted to report to JPMorgan.”

A lawyer for Musk did not immediately respond to a request for comment.

The United States is set to begin replenishing its strategic oil reserves in the coming months after President Joe Biden’s administration dried up supplies over the past year to keep prices in check in the wake of Russia’s invasion of Ukraine.

The Energy Department opened a solicitation process on Monday for companies to submit proposals to sell 3 million barrels of crude oil in the Strategic Petroleum Reserve.

The announcement comes after Energy Secretary Jennifer Granholm indicated last month that the purchases would begin in the second half of the year after a lengthy drawdown that left reserves at their lowest level since the early 1980s.

US stocks were subdued on Monday as investors waited for news on debt ceiling negotiations and assessed new data that pointed to a cooling economy.

The tech-heavy Nasdaq Composite index rose 0.7%, extending its gains over the previous week, while Wall Street’s benchmark S&P 500 gained 0.3%.

The moves in US stocks came as traders awaited a breakthrough between the White House and Republican lawmakers in talks to raise the federal debt limit and avoid a national default, ahead of President Joe Biden’s meeting on Tuesday with US leaders. Congress.

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