MHMarkets:The fall of Luhansk brings Russia closer to Donbas, Australian Prime Minister Anthony visited the Kyiv region on Sunday

Luhansk is one of two regions that make up the Donbas in eastern Ukraine, where the conflict between Ukraine and Russian-backed separatists began in 2014. The region has become central to Russian President Vladimir Putin's military ambitions in Ukraine after his army failed to take over Kyiv earlier this year.

The fall of Luhansk brings Russia closer to achieving its goal of taking over the Donbas. Pro-Russian separatists in the region have already won the Battle of Resichansk. The leader of the Russia-backed self-proclaimed Luhansk People's Republic, Leonid Pashnik, has declared the “liberation” of the Luhansk region. Only Russia and Syria recognize the independence of the Luhansk People's Republic. Ukraine and its Western allies consider it part of Ukrainian territory, currently under Russian occupation.

Russia may take control of other parts of the Luhansk region in the next few days. After that, the institute said in its latest update that Russian forces may focus on Ukrainian positions in Siversk, west of Luhansk, before turning inland to Slovensk and Bakhmut.

Australian Prime Minister Anthony Albanis visited the Kyiv region on Sunday, traveling to Butcha, Khostomel and Irpin, before meeting Ukrainian President Volodymyr Zelensky.  

A new aid package for Ukraine was subsequently announced, according to a statement from the Prime Minister's Office. The plan includes: A$99.5 million (US$67 million) in military assistance, including 14 armoured personnel carriers, 20 Bushmaster protected motor vehicles and other military equipment. A$8.7 million ($6 million) to upgrade border management equipment, improve cyber security and strengthen border operations on the ground. Australia will also ban imports of Russian gold, joining countries that have made similar pledges, including Canada, Japan, the United Kingdom and the United States. Australia will impose targeted financial sanctions and travel bans on 16 other Russian ministers and oligarchs.

Financial data and events to focus on today:

U.S. stocks closed, some contracts under CME and ICE ended early