Diplomacy
EU leaders agreed to designate Ukraine and Moldova as candidate countries.
President Joe Biden will head to Europe next week for G7 and NATO summits. Ukrainian President Volodymyr Zelenskyy will speak at both.
Sanctions
The UK announced additional sanctions, including blocking export, supply, and delivery of goods and technology related to internal repression, chemical and biological weapons, maritime, oil refining, and critical industry. It also includes a prohibition on the export of jet fuel and pound and euro banknotes, as well as technical assistance and other services for Russia’s iron and steel industry.
Consequences
Russia is contending that sanctions have created a force-majeure situation in which it must make bond payments in rubles as a grade period expiration looms Sunday.
Gazprom is only selling 25% of gas volumes to Europe on a year-on-year basis.
Nike, which had suspended operations in Russia, will now fully exit the country.
Ukraine Sitrep
The UK believes that Russia’s momentum in Ukraine will eventually slow due to a lack of resources.
Ukraine announced that the first longer-range rocket systems arrived. The U.S. announced an additional $450 million in military aid, which includes medium-range rocket systems.
Fighting is so intense in eastern Ukraine that Doctors Without Borders will not go there.