???? Live: Zelensky says Ukraine needs more time to prepare counteroffensive

2:01pm: Germany urges caution in targeting China under new Russia sanctions

Germany led calls urging caution against targeting China under new European Union sanctions against Russia over its invasion of Ukraine, during a first discussion among the bloc’s 27 countries on proposed new restrictions, five diplomatic sources said.

Italy backed Germany’s proposal to target foreign companies, rather than countries, over any circumvention of existing sanctions, according to the sources familiar with the Wednesday discussion, behind closed doors. The diplomats spoke under condition of anonymity.

1:55pm: UK confirms sending Ukraine long-range cruise missiles

British Defence Secretary Ben Wallace confirmed Thursday that the UK is sending Ukraine long-range cruise missiles to help push back Russian forces.

Wallace told lawmakers in the House of Commons that Britain is donating Storm Shadow missiles. He didn’t say how many are being sent.

Wallace said the missiles “are now going into or are in the country itself.”

Prime Minister Rishi Sunak pledged in February that Britain would be the first country to give Ukraine the longer-range weapons that it has sought from Western allies.

The missiles give Ukraine capacity to strike well behind the front lines, including in Russia-occupied Crimea. UK media reported that Ukraine has pledged not to use the missiles to attack Russia itself.

Wallace said the missiles would be used to push back Russian forces in “Ukrainian sovereign territory.” He said UK support for Ukraine is “responsible, calibrated, coordinated and agile.”

1:46pm: Norway takes over Arctic Council leadership from Russia

Norway on Thursday took over the chairmanship of the Arctic Council from Russia despite a freeze in cooperation between the Western Arctic states and Moscow on the regional polar body due to the invasion of Ukraine.

12:10pm: G7 finance ministers to vow support for Ukraine, seek ways to spur global economy as debt risks loom

Financial leaders of the Group of Seven advanced economies are discussing ways to support Ukraine and pressure Russia to end the war as they meet in Japan starting Thursday. 

Ukraine’s finance minister, Serhiy Marchenko, was participating online in the first session of the G7 talks in Niigata, a port city on the Japan Sea coast. 

US Treasury Secretary Janet Yellen said the G7 nations “will stand with Ukraine for as long as it takes” to end the conflict. The leaders will be mulling ways to prevent Russia and other countries from circumventing sanctions against Moscow for its invasion, Japanese Finance Minister Shunichi Suzuki told reporters. 

“We have taken a wave of actions in the past few months to crack down on evasion. And my team has traveled around the world to intensify this work,” Yellen said. 

The war and its toll on the global economy, debt crises in developing countries and a stalemate in Washington over the national debt are topping the agenda of the three days of talks by finance ministers and central bank governors of G-7 countries and others invited to attend. 

11:05am: Russia’s defence ministry says its forces still advancing in Bakhmut 

Russia’s defence ministry said on Thursday that its forces had continued to advance in the western part of Bakhmut and that paratroops were providing support around the Ukrainian city’s flanks, Russian news agencies reported.

The head of the Wagner private army, Yevgeny Prigozhin, earlier said one unit of Russia’s army had abandoned its supporting position and that Ukrainian forces had made gains towards the city as part of a long-awaited counteroffensive by Kyiv.

10:02am: Kremlin no discussions on compensation for Finland’s Fortum

There have been no discussions about compensation for Finnish energy group Fortum and there is no decision about a possible nationalisation of its assets, Kremlin spokesman Dmitry Peskov said on Thursday.

Fortum last week formally notified the Kremlin that it strongly objected to what it said was Russia’s “unlawful” seizure of its subsidiary in the country.

10:00am: Kremlin says US move to confiscate Russian businessman’s funds will backfire

The Kremlin on Thursday criticised a move by the United States to confiscate the assets of conservative Russian businessman Konstantin Malofeyev and give them to Ukraine, saying it would “boomerang” back on Washington.

US Attorney General Merrick Garland on Wednesday authorised Malofeyev’s confiscated assets to be transferred for use in Ukraine in the first such instance of confiscated Russian money being used in such a way.

9:58am: Russia’s Wagner founder Prigozhin says Ukrainian offensive has started around Bakhmut flanks

The founder of Russia’s Wagner Group mercenary force Yevgeny Prigozhin said on Thursday that Ukrainian units had begun their counterattack, and were approaching Bakhmut from the flanks.

In a comment his press service published on Telegram in response to a Russian media request about Ukraine’s anticipated counteroffensive, Prigozhin said that Ukrainian operations were “unfortunately, partially successful”.

9:26am: Britain has supplied Ukraine with long-range cruise missiles

Britain has supplied Ukraine with multiple ‘Storm Shadow’ long-range cruise missiles, CNN reported on Thursday citing multiple senior Western officials. The Ministry of Defence declined to comment.

When asked about the report, Kremlin spokesman Dmitry Peskov said would require “an adequate response from our military”.

9:24am: Ukrainian president Zelensky says the counteroffensive needs more time, launching now would cost too many lives

Ukrainian President Volodymyr Zelensky says his country’s military needs more time to prepare an anticipated counteroffensive aimed at pushing back Russian occupying forces and opening a new chapter in the war more than 14 months after the Kremlin’s full-scale invasion.

Zelensky said in an interview broadcast Thursday by the BBC that it would be “unacceptable” to launch the assault now because too many lives would be lost.

“With (what we have) we can go forward and be successful,” Zelensky said in the interview, according to the BBC.

“But we’d lose a lot of people. I think that’s unacceptable,” he was quoted as saying. The interview was reportedly carried out in Kyiv with public service broadcasters who are members of Eurovision News, including the BBC.

7:28am: Ukrainian drone attacks oil storage depot in Russian border region says governor

A Ukrainian drone attacked an oil storage depot in the Russian border region of Bryansk, the local governor said in a post on his Telegram channel on Thursday.

There were no casualties after the attack on the facility near the town of Klintsy, owned by Russia’s Rosneft oil company, though one storage tank was partially damaged, Governor Alexander Bogomaz said.

10:22pm: Russia’s operation in Ukraine is very difficult, Kremlin spokesman tells Tass

Russia’s military operation against Ukraine is “very difficult” but certain goals have been achieved, Tass news agency cited Kremlin spokesman Dmitry Peskov as saying on Wednesday.

Russia has succeeded in severely damaging Ukraine’s military machine and this work will continue, he added.

• Key developments from Wednesday, May 10:

France launches war crime probe into AFP journalist’s death in Bakhmout.

Russian forces are planning to evacuate more than 3,000 workers from the town that serves the occupied Zaporizhzhia nuclear power plant, resulting in a “catastrophic lack” of personnel, Ukraine’s state-owned Energoatom company said on Wednesday.

A Ukrainian military unit said on Wednesday it had routed a Russian infantry brigade from territory near Bakhmut, claiming to confirm an account by the head of Russia’s Wagner private army that the Russian forces had fled.

Read yesterday’s live blog to see how the day’s events unfolded

(FRANCE 24 with AFP, AP and Reuters)