Diplomacy
Former New Mexico Governor Bill Richardson traveled to Russia to discuss an exchange of imprisoned Americans and Russians.
The head of the European Commission visited Kyiv.
Sanctions
Sens. Richard Blumenthal (D-CT) and Lindsay Graham (R-SC) introduced legislation to designate Russia as a state sponsor of terror.
Consequences
The EU proposed emergency energy measures, including a windfall tax on some energy companies and binding consumption reduction targets.
An internal Russian Finance Ministry document estimates Russia’s financial sector suffered hundreds of billions of dollars in “direct losses” due to sanctions. Russia may use its sovereign wealth fund to help domestic airlines buy leased airplanes.
Germany is weighing taking a majority stake in gas supplier Uniper.
Ukraine Sitrep
Ukrainian President Volodymyr Zelenskyy visited the recaptured city of Izyum.
Ukraine claims it retook a town just north of the southern city of Kherson. On the northern front, a senior Western official believes Russia will regroup in the northeastern city of Svatove. They also estimate there are 20,000 Russian troops in the area but are demoralized. Russia struck hydraulic structures in Kryvyi Rih, potentially harming water access for its citizens.
Ukraine says it has captured over 200 Russian vehicles in the Kharkiv Oblast offensive and will put captured Russian vehicles into service.
The EU pledged money to rebuild Ukrainian schools, announced policies to bring Ukraine closer to the bloc economically, including giving access to the single market for goods and services.
Ukraine’s Western government creditors agreed to a debt service freeze for Ukraine.