Russia's invasion of Ukraine and economic crisis both deepening
According to Finance Minister Oleksandr Kubrakov, the damage to infrastructure and fixed assets from Russian airstrikes this year is estimated to have reached approximately US$10 billion.
September 13, 2026
By Reuters
- Russia has intensified airstrikes on Ukraine's infrastructure, industry, and Black Sea ports, causing approximately $10 billion in damage and putting $40 billion worth of exports at risk.
- Officials say Ukraine's GDP is expected to contract by 1.5% due to the attacks and port blockades, and the country will face a harsh winter.
- As the daily cost of the war increases, domestic revenue is insufficient to cover defense spending, prompting the government to cut non-military spending and seek further assistance from Western partners.
Kyiv — Ukraine is facing an economic crisis as Russia intensifies its attacks on infrastructure and key export industries, pushing Ukrainians towards a difficult and harsh winter, according to Ukrainian officials.
According to Finance Minister Oleksandr Kubrakov, the damage to infrastructure and fixed assets from Russian airstrikes this year is estimated to have reached approximately US$10 billion. Similarly, due to the cost of the war and blockades at the country's ports, gross domestic product (GDP) is expected to contract by 1.5%.
Addressing investors, officials, and diplomats at a conference in Kyiv, Minister Kubrakov said, "Critical infrastructure is being destroyed due to Russia's daily attacks. The overall economic situation of the country is deteriorating. We are heading into a very difficult winter."
It has been more than four and a half years since the war began in Ukraine. However, the fighting is not currently concentrated in border areas. Instead, both countries are targeting each other's critical infrastructure through aerial attacks.
For more than two weeks, Russia has been continuously attacking Kyiv using high-speed jet-powered drones, disrupting daily life, business, and government operations. However, both Russia and Ukraine claim not to intentionally target civilians.
Furthermore, Russia has increased airstrikes on Ukraine's southern regions, leading to the closure of ports around the Black Sea. Kubrakov stated that approximately $40 billion in export revenue is at risk due to this blockade.
Ukraine's main exports, including agricultural products, iron, and steel, are shipped abroad through ports around the Black Sea.
Difficulty in covering defense costs
With the damage to infrastructure and industries caused by Russian attacks, Ukraine's domestic budget revenue has come under pressure. According to Roksolana Pidlasa, head of the parliamentary budget committee, domestic revenue collected in the first eight months of this year was $1.35 billion below target.
She stated that the war is becoming increasingly expensive, and Ukraine can no longer fully finance its defense needs solely from its domestic resources as in previous years. According to Pidlasa, Ukraine spent approximately $42 billion on defense in the first eight months of the current year, excluding material military aid. However, only $39 billion was raised from domestic revenue collection and local debt during the same period.
She said at the conference, "Unfortunately, the war has become so expensive this year that we are not even able to cover our share of the expenses." The daily cost of the war has increased to approximately $190 million this year due to inflation, troop increases, rising social benefits for the families of fallen soldiers, and high arms imports, compared to $140 million per day when the war began in 2024.
The government is seeking measures to cut or freeze non-military budget expenditures and is in discussions with its Western partners for further financial assistance. However, no clear and swift solution has been found yet.
By Reuters
77 Kailash pilgrims and 3 volunteers from Isha Foundation still missing after Bhotekoshi flood
According to the foundation, entry into the Kerung port area is strictly prohibited from both Chinese and Nepali sides.
September 13, 2026
By ANI
- Following the Bhotekoshi flood, 77 pilgrims and 3 volunteers from the Isha Foundation's Kailash Mansarovar Yatra are still missing, totaling 80 people. Forensic and identification work is ongoing at the scene, which may take more time to identify bodies or individuals.
- The foundation is coordinating with government agencies in Nepal, India, and China, as well as embassies from 19 countries, to relay information to affected families. Approximately 25 volunteers deployed in Nepal are assisting with rescue, identification, and coordination with local authorities.
Kathmandu — A total of 80 people, including 77 pilgrims and 3 volunteers from the Isha Foundation's Kailash Mansarovar Yatra, are still missing due to the Bhotekoshi flood. The foundation has stated that forensic and identification work is still ongoing at the scene.
According to an official statement released on Saturday, no new information has been received regarding the missing individuals. Officials have indicated that due to the complex conditions at the scene, it may take some more time to identify bodies and individuals.
The foundation has stated that details, photos, and other important information related to the flood victims have been provided to the relevant government agencies and search and rescue teams.
The organization has been continuously coordinating with government agencies in China, India, and Nepal, as well as embassies from 19 countries. Teams from the foundation are actively working to relay the latest updates received through government and diplomatic channels to the affected families.
According to the foundation, entry into the Kerung port area is strictly prohibited from both Chinese and Nepali sides, considering the security and forensic work at the scene. No private individuals or organizations are permitted to enter the area surrounding the site.
Approximately 25 volunteers have been deployed in Nepal to coordinate locally. They are in constant contact with the Nepal Police, Tourist Police, Nepali Army, hospitals, morgues, and various government offices, assisting in the rescue and identification processes.
Additionally, the foundation stated that inquiries from victim families are being addressed through hotline services operating in eight countries, and work is underway to collect further details in coordination with local authorities.
By ANI
Over 76,000 people displaced in Yemen in two months
The number of displaced people has surged since the Houthi rebels declared a blockade on the Red Sea against Saudi Arabia.
September 13, 2026
By Kantipur Correspondent
Kathmandu — The number of displaced people in Yemen has rapidly increased as clashes between government forces and Iran-backed Houthi rebels have intensified.
According to the United Nations, at least 76,000 people have been forced to leave their homes in various parts of the country since last July. The International Organization for Migration (IOM) issued a statement on Saturday, warning that the displacement crisis in Yemen is deepening.
The number of displaced people has quadrupled this week compared to last week as fighting intensifies," the IOM stated. "Entire families are forced to flee and wander aimlessly. They mostly flee at night and have no safe place to seek refuge."
According to the IOM, displacement incidents are mainly observed on the west coast and in the Taiz region. Taiz is the most affected.
Approximately 8,300 families, or about 50,000 people, have been displaced from various districts of Taiz province alone. The United Nations has stated that delivering humanitarian aid is becoming more challenging as the crisis deepens.
By Kantipur Correspondent
