Putin vows 'worthy riposte' to Ukraine's Kursk invasion

On August 12, Russian President Vladimir Putin accused Ukraine of attempting to "destabilize" Russia and vowed a "worthy riposte" to Kyiv’s ongoing invasion into Kursk Oblast.

During a televised meeting with government officials, Putin stated, "One of the obvious goals of the enemy is to sow discord, intimidate people, and destroy the unity and cohesion of Russian society. The main task is for the defense ministry to dislodge the enemy from our territories."

The Ukrainian military launched a surprise incursion into Kursk Oblast on August 6, marking the first time regular Ukrainian forces have entered Russian territory.

In the same meeting, Alexey Smirnov, the acting governor of Kursk Oblast, described the situation as "difficult," reporting that Ukraine controls 28 settlements and that the incursion has reached up to 12 kilometers deep along a 40-kilometer front.

Putin noted that the incursion has led to an increase in enlistments. "The enemy will receive a worthy riposte," he said.

Despite Moscow's reinforcements arriving, Ukrainian forces have reportedly continued to advance in Kursk Oblast. As of August 12, Ukrainian forces control approximately 1,000 square kilometers of the region, according to Ukraine's Commander-in-Chief Oleksandr Syrskyi.

Kyiv has maintained a policy of silence regarding the incursion, even as the fighting continues and Ukrainian forces advance deeper into Russian territory. Russian authorities have announced expanded civilian evacuation measures in districts near the Ukrainian border, with Smirnov reporting that 121,000 people have been evacuated and another 59,000 are expected to leave.

Despite sanctions, billions of dollars, euros shipped to Russia since March 2022

Since the onset of the full-scale war, nearly $2.3 billion in dollars and euros have been shipped to Russia, violating U.S. and EU sanctions, according to Reuters on August 12.

Both the EU and the U.S. imposed bans in March 2022 on exporting dollars and euros to Russia. While the trade of these currencies has diminished, the Chinese yuan has increasingly filled the void, becoming the most traded foreign currency in Russia.

Despite this, data seen by Reuters shows that dollars and euros continue to circulate widely within Russia. Much of this currency has entered Russia through third-party countries like the United Arab Emirates and Turkey, which have not adopted the currency-related sanctions against Russia. The origins of more than half of the dollars and euros that arrived in Russia remain unspecified. This cash is reportedly used for purchasing gold, arms, or for banking purposes.

Sources told Reuters that cash payments have often been used to circumvent sanctions on wire transfers. The data reviewed covers the period from March 2022 to December 2023.

In response to these developments, the U.S. has expanded its sanctions to prevent evasion. New measures impose penalties on banks and financial institutions that continue to engage with Russia, even inadvertently.

These sanctions have likely contributed to the withdrawal of some Chinese banks from Russia and have caused trade difficulties between the two countries. Kommersant, a Russian state-controlled media outlet, reported in July that Chinese banks are rejecting and returning approximately 80% of Russian payments made in yuan.

Additionally, Reuters reported earlier in August that Russia and China have started exploring barter-based trading as a method to bypass payment difficulties associated with sanctions.

Two men injured in Russian attack on Kherson

On the evening of August 12, Russian troops bombarded the city of Kherson, injuring two men.

Source: Kherson Oblast Military Administration

Details: Around 17:00, Russian forces targeted the Dniprovskyi district of Kherson.

A 61-year-old man was injured in the attack, sustaining mine-blast injuries and wounds to his leg. He was hospitalized and is receiving medical care.

Another individual was later reported injured, with the same 61-year-old man suffering blast injuries and shrapnel wounds to his forearm and leg. He remains under medical supervision.