Iskander missiles during a demonstration at a range near Moscow. Reuters
Iskander missiles during a demonstration at a range near Moscow. Reuters
Iskander missiles during a demonstration at a range near Moscow. Reuters
Iskander missiles during a demonstration at a range near Moscow. Reuters

Russia down to a month's supply of shells and missiles, western officials believe


Thomas Harding
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Russia’s military has just a month’s supply of artillery ammunition left after exhausting its stocks in Ukraine, western officials say.

The drastic depletion of Moscow's key offensive stockpile has ruled out future offensives and it is “clear for now that the Russian occupation of Ukraine is a defensive operation”, an official said.

It also appears that the Russians have nearly exhausted their supply of Iskander surface-to-surface missiles, after it was confirmed in a media briefing that just 120 remained.

The official agreed that a Ukraine intelligence assessment on the Iskanders and the month’s supply of artillery were “in the right ballpark”, adding that munitions supply was “a big limiting factor for both sides”.

“That's why we've seen the Russians going to great lengths to to replenish rare resources, including through working with international partners, and the Ukrainians are doing exactly the same thing,” he said. “So this is a critical factor.”

Despite the shrinking supplies, two residential buildings were hit during a Russian missile strike on Kyiv on Tuesday, the mayor of the Ukrainian capital said.

Mayor Vitali Klitschko, citing preliminary information, wrote on the Telegram messaging app that medics were on the scene in central Kyiv and that several missiles had also been shot down.

The coming winter period is crucial in relation to which side can resupply themselves quickest, “in terms of personnel, munitions and equipment ready for the next offensive,” the western official said.

But the intelligence assessment of Russia’s withdrawal from the city of Kherson was that it had been orderly, with the invaders abandoning just a handful of vehicles and getting an estimated 20,000 troops back across the Dnipro river.

They have now set up strong defensive positions on the east bank, including crocodile teeth tank-traps, that make it very unlikely that Ukrainian forces will attempt a crossing.

Russian servicemen load a Iskander tactical missile system near Moscow. It is now estimated that just 120 of the weapons with a 500km range remain in their inventory. Reuters
Russian servicemen load a Iskander tactical missile system near Moscow. It is now estimated that just 120 of the weapons with a 500km range remain in their inventory. Reuters

“Despite the considerable political and reputational cost to the Kremlin, there was a clear military rationale for the withdrawal,” the official said. “Ukrainian long-range fires had critically undermined Russian supply lines and command and control.”

However, Ukrainian special forces strikes are expected to covertly cross the 1km-wide river and get behind enemy lines to find targets for missile strikes and conduct sabotage.

It was also disclosed that about a 10th of the 100,000 Russian forces in occupied Ukraine are recently mobilised reservists who are poorly trained and equipped.

“This contrasts to increasing evidence of the quality of Ukrainian small unit leadership, officers and NCOs which now have a wealth of combat experience from the last nine months and they've all benefited as well from international training.”

At least half of the experienced Russian troops from Kherson are likely to redeploy to the Donbas area where Moscow could order a new offensive after replenishing stocks.

The entire Ukraine campaign is now under the sole command of Moscow’s ruthless but competent Gen Sergei Surovikin, who is making sensible military decisions, officials said, and Russia still poses a considerable threat.

“If people are expecting the collapse of forces on either side, we can't see anything which would indicate that from now through to the end of the year,” the official concluded. “Neither side is in such a condition that its forces will collapse.”

Ukraine under fire

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Defenders: John Stones (Man City), Luke Shaw (Man Utd), Harry Maguire (Man Utd), Trent Alexander-Arnold (Liverpool), Kyle Walker (Man City), Tyrone Mings (Aston Villa), Reece James (Chelsea), Conor Coady (Wolves), Ben Chilwell (Chelsea), Kieran Trippier (Atletico Madrid)

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Forwards: Harry Kane (Tottenham), Marcus Rashford (Man Utd), Raheem Sterling (Man City), Dominic Calvert-Lewin (Everton), Phil Foden (Man City), Jack Grealish (Aston Villa), Jadon Sancho (Borussia Dortmund), Bukayo Saka (Arsenal)

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Sharjah Wanderers 20 Dubai Tigers 25 (After extra-time)

Wanderers
Tries: Gormley, Penalty
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Pens: Flaherty 2

Tigers
Tries: O’Donnell, Gibbons, Kelly
Cons: Caldwell 2
Pens: Caldwell, Cross

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What: International friendly

When: 7pm kick off

Where: Rugby Park, Dubai Sports City

Admission: Free

Online: The match will be broadcast live on Dubai Exiles’ Facebook page

UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)

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Stay indoors when conditions are particularly poor.

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Match info

Wolves 0

Arsenal 2 (Saka 43', Lacazette 85')

Man of the match: Shkodran Mustafi (Arsenal)

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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The years Ramadan fell in May

1987

1954

1921

1888

Updated: November 15, 2022, 1:58 PM