Ukraine War & Energy Risk: Russian drones hit Kyiv again, killing 2 and injuring dozens, with fires reported at the Shaiba market near the railway station and damage across multiple districts. Sanctions & EU Politics: The EU faced backlash after lifting sanctions on Russian oligarchs Usmanov and Fridman, while EU officials warned about “sanctions fatigue” and the need to keep pressure on Moscow. US–India–Russia Energy Tensions: India’s Jaishankar met US Secretary of State Rubio at UNGA, flagging concerns over the “Sanctioning Russia and Iran Act,” which could bring tariffs up to 100% on buyers of Russian energy. Central Bank & FX: Russia’s inflation hit 6.22% (as of Sept 21), and the Bank of Russia bought yuan for about $22m in settlement operations. Trade & Regional Growth: ADB kept Armenia’s 2026–27 growth outlook at 5%–5.5% but warned Russian import restrictions and regional disruptions could weigh on exports. Asia Pivot: Russia is deepening ties with Hong Kong as a financial and logistics hub, with trade rising in 2026 despite smaller overall volumes than with mainland China. Business & Markets: Moscow Exchange launched XRP perpetual futures settled in rubles, signaling continued push into crypto derivatives.