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Recognizing genocide of Ukrainians, economic decline, and shelling Odesa: Highlights on war in Ukraine as of May 10

War in Ukraine as of May 10: The genocide of Ukrainians and weapons from Germany. Photo: Collage by The Page

War in Ukraine as of May 10: The genocide of Ukrainians and weapons from Germany. Photo: Collage by The Page

The 76th day of the war against Russian invaders continues in Ukraine. On May 10, 2022, the Cabinet of Ministers decided to use all Russian assets on the territory of Ukraine to restore the destructions, more than 100,000 people are waiting to be evacuated from Mariupol, and the Lithuanian Parliament recognized the Russian invasion as a genocide of the Ukrainian people. The Page has compiled business, political, and economic news that will help you learn more about the situation in the country that has been fighting for its right to exist for more than two months.

Top news on the war as of May 10:

  • The Cabinet of Ministers is transferring all Russian assets on the territory of Ukraine to the state enterprise National Investment Fund, according to Prime Minister Denys Shmyhal. "Today we have a document on the agenda that determines that Russian assets on the territory of Ukraine are transferred to the state, namely the State Enterprise National Investment Fund. We will take everything that Russia owns in our country and use these funds to reinforce our army, support people, and rebuild our country," the Prime Minister said.
  • In Mariupol, another 100,000 people are waiting for evacuation. To do this, there should be a stable cease-fire that is often violated by the Russian occupiers, said the mayor of the city Vadym Boichenko.
  • The Lithuanian Seimas unanimously recognized the Russian invasion of Ukraine as genocide of the Ukrainian nation and called for establishing an international tribunal to investigate the Kremlin's war crimes. In the adopted document, the Lithuanian MPs called on the United Nations, the European Parliament, the Parliamentary Assembly of the Council of Europe, the OSCE Parliamentary Assembly, the NATO Parliamentary Assembly, as well as parliaments and governments of foreign states to recognize and prosecute the genocide, war crimes and crimes against humanity.

Top news on politics as of May 10

  • Germany will supply Ukraine with Gepard anti-aircraft self-propelled artillery mounts after an agreement with other countries on the supply of shells to them, German Foreign Minister Annalena Baerbock said. "We have already supplied 16 million shells, thousands of rounds of ammunition, Stingers, and Strelas. But also other eauipment and medications. We talked about armored vehicles. But, for example, regarding the Gepards. We can supply them, but we do not have shells for them... We are now trying to find shells from those countries that can supply them for the Gepards. The further step will be the next tanks and howitzers," Baerbock said. Germany and the Netherlands will also provide Ukraine with 12 Panzerhaubitzen 2000 howitzers.
  • Ministers of Foreign Affairs of the Netherlands and Germany Wopke Hoekstra and Annalena Baerbock are on a visit to Ukraine. "This morning I arrived in Kyiv for meetings with the Ukrainian government, together with Annalena Baerbock. I started my visit this morning in Irpin, a suburb of Kyiv," Hoekstra wrote on Twitter on Tuesday. He noted that the dramatic devastation testifies to the impact of the war on the lives of the men, women, and children who live here. "This cannot go unpunished. The Netherlands is committed to establish the truth and justice," the Minister stressed.

Top news on economy as of May 10

  • The Ukrainian government will present a plan for a full-scale post-war rebuilding of the state at an international conference to be held on July 4-5 in the Swiss city of Lugano, Ukrainian Ambassador to Switzerland Artem Rybchenko said, according to Interfax-Ukraine. According to the diplomat, the conference will bring together from 700 to 1,000 participants, including politicians, economists, and experts from around the world. The discussion with proposals on the participation of the world in the revival of Ukraine in the post-war period will be opened by Swiss President Ignazio Cassis. The event aims not only to raise funds for rebuilding the country, but also to present future projects for reconstructing the affected infrastructure, as well as developments on a wide range of problems — from demining the territory of Ukraine to the rehabilitation of children affected by the war.
  • Consumer price increase in Ukraine in April 2022 slowed to 3.1% from 4.5% in March, but exceeded 1.6% in February and 1.3% in January, the State Statistics Service reported on Tuesday. Core inflation last month also decreased to 3% from 3.8% in March. Since early this year, for the first four months, inflation in Ukraine amounted to 10.9%, and the base one — 8.1%, the State Statistics Service specified.
  • The European Bank for Reconstruction and Development (EBRD) has downgraded the forecast for Ukraine’s economic decline as a result of the war to 30%. In March, it expected a 20% decline in GDP. This is reported on the bank's website. In 2023, the EBRD expects a quick recovery of the Ukrainian economy — by 25%.

Top news on business as of May 10

  • As a result of yesterday's missile attack on Odesa on May 9, the shopping center Riviera was destroyed. Rescuers extinguished the fire on an area of 1,000 square meters in three hours. Ten fire engines and 53 people were involved in extinguishing the fire. This was reported by the main department of the State Emergency Service in the Odesa region. Operational Command South reports that one person died and five were hospitalized.
  • ELEEK, a startup from Ternopil, offered the Elik Atom electric motorcycle to the warriors of the Armed Forces of Ukraine. A preliminary version of the electric bike has already been tested in combat conditions, and after that an improved model was designed taking into account the wishes of the military. The new version of the motorcycle is equipped with a 220 volt outlet suitable for any standard charger. This will allow fighters not to take additional power banks to raids. Each electric bike costs about 127,000 UAH.

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