World Business Report - Ukraine takes aim at Russia's economy

Download Ukraine takes aim at Russia's economy

Ukrainian drone strikes hit Wildberries warehouses across Russia, with 16 distribution centres damaged or destroyed in the past fortnight. As the country's biggest online retailer faces disruption and a Lukoil oil refinery is also hit, we examine why Ukraine is targeting Russian business infrastructure.

Also, oil prices rise after Iran stops two vessels attempting to leave the Strait of Hormuz. We ask why crude has not surged even higher, and look at how China's hidden oil reserves have helped limit the impact on global markets.

FIFA faces a growing backlash over plans to sell minority stakes in a new commercial entity controlling future tournament rights, with UEFA, other federations and senior figures inside FIFA pushing back against the proposal.

Plus, we examine the collapse of an AI-focused hedge fund once valued at $45 billion, led by 24-year-old tech entrepreneur Leopold Aschenbrenner, after its assets were bought by a rival firm for less than $10 billion.

Image Credit: STRINGER/EPA/Shutterstock

Published on Friday, 31st July 2026.

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