Russian President Vladimir Putin is gearing up to buy millions of rockets and artillery shells from North Korean Supreme Leader Kim Jong-un, according to a New York Times report.
What happened: The Russian Ministry of Defense is in the process of buying artillery ammunition from North Korea for the Ukraine war amid the western sanctions, The New York Times reported, citing new U.S. intelligence findings.
The U.S. government officials told the publication that the purchases from Kim's isolated nation showed that sanctions had begun to bite Putin and have reduced his military's ability to sustain its so-called "special military operation" in Ukraine.
The report said the recently declassified intelligence shared no details about what was purchased, other than saying that the items included artillery shells and rockets. However, it noted that Russia was expected to buy more such gear.
Meanwhile, a U.S. official also told Associated Press, on the condition of anonymity, that the fact Putin is turning to Kim's hermit kingdom demonstrates that "the Russian military continues to suffer from severe supply shortages in Ukraine, due in part to export controls and sanctions."
This came after The White House last week said the Russian military has faced technical problems with Iranian-made drones acquired from Tehran in August.
See Also: 7 Powerful Russian Business Tycoons That Have Died Mysteriously Since Putin's Ukraine Invasion
Illustration by TPYXA_ILLUSTRATION on Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.