Biden Reaffirms Support for Ukraine, Advocates Minsk Agreements for De-Escalation

LOCAL NEWS

• Biden reaffirmed the readiness of the US, along with its allies and partners, to respond decisively if Russia continues to invade Ukraine in a call with Zelensky yesterday.
  • Also noted support for efforts to resolve the conflict in the Normandy format, expressing the hope that the January 26 confirmation by the parties of the terms of the ceasefire in July 2020 will help reduce tensions and advance the implementation of the Minsk agreements
• The U.K. and EU are gearing up to sanction new Russian gas projects if there’s an attack on Ukraine. Plans would drastically cut financing and technology transfers for new gas projects.
  • Could target companies including BP, Total and Shell, which invest in the gas sector in Russia
• Deputy Security Council Chair Medvedev says Russia is interested in mutually beneficial relations with the EU. Says there are no disputes between Moscow and Brussels that cannot be resolved
• Government plans to reorganize the Pension Fund (PFR) and Social Insurance Fund (FSS) into a single organization.
  • With a minimal increase in the burden on business, this, according to the Ministry of Labor, will increase the size of a number of social payments for the population by 1.5x. This will also make obtaining social services also more convenient – by combining their administrative functions within a single digital platform

Data/Events:

• Putin holds phone call with Macron* 0830GMT: Lavrov holds interview on Russian radio stations