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One year on: It's been 365 days since Russia invaded Ukraine

One year on: It's been 365 days since Russia invaded Ukraine

1 year on

It’s been exactly 365 days since the Russian invasion of Ukraine and, with more than 8 million Ukrainian refugees recorded across Europe and thousands of civilian casualties, the war continues to take a tragic toll on the Ukrainian people.

Nations around the world have reacted by sending arms, financial assistance and humanitarian aid to Ukraine. President Biden’s surprise visit to Kyiv this week, traveling aboard ‘Rail Force One’, was a clear sign that US support is set to continue.

Russia has certainly suffered on the world stage, with over 1,000 companies announcing voluntary withdrawals from the country. Politically, sanctions of varying severity have been the medium of choice for many countries to exert pressure. In 2022, more than 11,000 new sanctions were implemented, leaving Russia as the most heavily-sanctioned country on Earth, causing the economy to shrink 3% last year. EU reliance on Russian coal, as just one example, decreased from nearly 40% in May 2022 to essentially nothing by the end of the year.

In addition to the loss of life, the displacement impact on Ukraine and its neighboring countries remains immense. Poland hosts more Ukrainian refugees than any other country and is still home to more than a million Ukrainians who, even a year on, are still unsure when it will be safe to return home. Indeed, data from the UNHCR shows that some 20,000 Ukrainians are still crossing the border every day in both directions.

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US and Iran trade strikes overnight amid peace talks

Hours after President Donald Trump dismissed a report regarding a deal to restore traffic through the Strait of Hormuz, the US and Iran exchanged fresh strikes early on Thursday.

Despite an ongoing ceasefire as the countries hold talks to end the conflict, the US carried out new strikes inside Iran, The Guardian reports, prompting a retaliatory attack from Iran on a US airbase in Kuwait.

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Tom Jones

The UAE’s OPEC exit will hit the group in the barrels

After just shy of 60 years in OPEC, its membership even predating its status as a nation-state, the United Arab Emirates yesterday announced its shocking departure from the oil production group, effective May 1, as the knock-on effects of the Iran war continue to play out across the Middle East and the energy landscape.

For context, the UAE produces the third-highest amount of oil in the group, per April data and OPEC’s latest set of annual statistics.

According to the cartel’s 2025 Annual Statistical Bulletin, the OPEC group was collectively exporting some 19 million barrels of crude oil a day last year, with the United Arab Emirates accounting for some 14% of that daily output.

UAExit means UAExit

The nation, whose energy minister told Reuters yesterday that the decision was taken “after a careful look at current and future policies related to level of production” and wasn’t made following discussions with any other country, made up a healthy share of the group’s total confirmed crude oil reserves, as well.

OPEC exports chart
Sherwood News

Of the 12 nations in the core group, which was founded by just five oil superpowers back in September 1960, only two (Iraq and Saudi Arabia) exported more barrels of crude oil daily, pumping out 3.36 million and 6.05 million barrels, respectively, each day to nations around the world.

For its part, the UAE said it will “continue its responsible role by gradually and thoughtfully increasing production, in line with demand and market conditions,” per the official state news agency. Clearly, the nation now wants a little more control of just how much oil it can pump around the world, with the UAE having to eat a large proportion of lost revenues due to its healthy abundance and OPEC restrictions.

According to the cartel’s 2025 Annual Statistical Bulletin, the OPEC group was collectively exporting some 19 million barrels of crude oil a day last year, with the United Arab Emirates accounting for some 14% of that daily output.

UAExit means UAExit

The nation, whose energy minister told Reuters yesterday that the decision was taken “after a careful look at current and future policies related to level of production” and wasn’t made following discussions with any other country, made up a healthy share of the group’s total confirmed crude oil reserves, as well.

OPEC exports chart
Sherwood News

Of the 12 nations in the core group, which was founded by just five oil superpowers back in September 1960, only two (Iraq and Saudi Arabia) exported more barrels of crude oil daily, pumping out 3.36 million and 6.05 million barrels, respectively, each day to nations around the world.

For its part, the UAE said it will “continue its responsible role by gradually and thoughtfully increasing production, in line with demand and market conditions,” per the official state news agency. Clearly, the nation now wants a little more control of just how much oil it can pump around the world, with the UAE having to eat a large proportion of lost revenues due to its healthy abundance and OPEC restrictions.

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