Your Evening Briefing: UN Sees No Evidence of ‘Dirty Bombs’

United Nations watchdogs threw more cold water on widely dismissed Russian allegations that Ukraine was making radioactive “dirty bombs.” After weeks of unsubstantiated claims by Kremlin officials, UN inspectors went in at the invitation of Kyiv to take a look. They said they “found no indications of undeclared nuclear activities and materials.” Vladimir Putin and his aides have dangled the option of using his country’s nuclear arsenal against Ukraine, and the US, NATO and others warned that his subsequent “dirty bomb” claims were a so-called false flag that could be used to justify such an atomic strike. Meanwhile in Ukraine’s east, diesel generators are again powering safety systems at Europe’s largest nuclear plant as fighting near the Zaporizhzhia station damaged power lines and substations. For months the Russian military has controlled the plant, and shelling nearby has raised concerns of a potential accident. More broadly, Ukraine has faced blackouts for days to preserve energy as attacks by Russia continue to target the nation’s energy grid.

Bank of England Governor Andrew Bailey said the economic turmoil hitting the UK this year is worse than anything in the 1970s. The remarks may underscore why the central bank is signaling a more cautious approach to interest rates than the US Federal Reserve. On Thursday, the BOE raised its benchmark lending rate at the sharpest pace in 33 years, but pushed back on market expectations for rapid increases going forward. In the US, markets were mostly lower after Fed Chair Jerome Powell warned of more rate hikes Wednesday.