Diplomacy
Ukraine’s top negotiator ruled out territorial concessions or signing another “Minsk Agreement.”
Turkey met with delegations from Sweden and Finland separately and together to discuss the two countries’ NATO accession applications. Turkey said it will block their accession until they take steps on Turkey’s security needs and is content to wait beyond the next NATO summit.
Italy and Hungary want the EU to explicitly call for a ceasefire at a summit next week.
Sanctions
Russia said it would unblock Ukrainian ports in exchange for lifting Western sanctions.
The UK is investigating whether Russian billionaire Petr Aven violated sanctions.
One of Ukrainian President Volodymyr Zelenskyy’s top aides penned an op-ed in the Financial Times calling for a full embargo on Russian oil and gas, full financial sanctions on all Russian banks, extending sanctions on individuals to immediate family members, and using seized Russian assets to finance Ukrainian reconstruction.
Consequences
As the ruble rebounds, the Russian Central Bank will meet tomorrow – two weeks early – to discuss accelerating interest rate cuts and potential further loosening of capital controls.
Norwegian energy company Equinor announced that it has officially exited from all joint ventures with Russia. Nike is exiting Russia, abandoning a franchising agreement for 37 retail stores.
The UK government approved the sale of the Chelsea Football Club, which is owned by sanctioned Russian oligarch Roman Abramovich. The UK says sale proceeds will not benefit Abramovich or other sanctioned individuals.
Ukraine Sitrep
A Ukrainian official claims that Russian forces outnumber Ukrainian forces in eastern Ukraine by 7 to 1. Ukraine’s intelligence agency estimates Russia has used 60% of its stockpile of high-precision weapons.
Russian President Vladimir Putin is making plans for “passportization” in southern Ukraine, giving passports to locals in occupied territories – a de facto annexation.
Declassified U.S. intelligence documents show that Russia’s naval blockade has halted maritime trade at Ukraine’s ports, which is worsening the global food security situation.
Moldova Sitrep
No news of note