May 11, 2022Newsletter

Russia Update: May 11, 2022


Finland’s Prime Minister made positive remarks about joining NATO. Sweden, which is also weighing NATO membership, signed a security agreement with the UK.


The House passed the $40 billion Ukraine aid package 368-57. Sen. Elizabeth Warren (D-MA) and Rep. Katie Porter (D-CA) sent letters to JPMorgan and Goldman Sachs regarding their dealings in Russian debt on the secondary market. Commerce Secretary Gina Raimondo said sanctions are forcing the Russian army to take computer chips out of appliances. The U.S. is weighing whether or not forcing Russia to default on further debt payments is the right path.

Hungary continues to block an EU Russian oil import ban.

A Russian billionaire challenged the EU’s sanctions at the EU General Court.


The European Commission estimates Ukraine will need 600 billion euros for reconstruction. Russian car sales dropped by 79%.

The U.S. and Bulgaria sealed an agreement for the U.S. to supply gas at a cheaper rate than Gazprom. Italian companies are paying for Russian gas in rubles as it waits for clarification from the EU.

The EU is working on an overland route for Ukrainian agricultural exports.

Ukraine Sitrep

Russian state media report that “authorities” in the partially-occupied region of Kherson will request integration with Russia. Ukraine will hold the first war crimes trial of a captured Russian.

Russia may have lost as many as 32 armored vehicles in a failed river crossing and strike in eastern Ukraine. Experts say it will take years for Russia’s army to recover from the Ukraine war.

Moldova Sitrep

No news of note

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