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Ceasefire Talks Resume Today Via Video Call; West Rebuffs Putin's Calls for RUB Gas Contracts

RUSSIA

LOCAL NEWS

  • Ceasefire talks will resume today via video conference after a break following discussions in Istanbul, which saw cautious signs of progress in establishing an agreement on key issues.
    • Today’s focus is to see whether this progress can manifest into a clear agreement than can for the basis for a Putin-Zelensky meeting. Although Putin has downplayed how close we are to this.
  • Russia continues to shift its troops to focus on the southeast with Mariupol still a notable point of contention in securing Russia’s land bridge to the Sea of Asov. Russia is opting for long-range strikes over direct troop confrontation as it conducts the shift.
  • Biden says Putin has isolated himself internally, after reports emerged this week that the leader may be receiving overly optimistic information about the war. Biden noted that some of Putin’s advisors may also have been fired or put under house arrest - Sky
  • Analysts say that at the moment there is little sign that EU countries will bow to Putin’s request for all gas contracts to be paid in RUB starting from today. Yesterday, Putin said all unfriendly countries would be cut off from gas supplies if they did not agree to pay in RUB and set up accounts via Gazprombank to do so. European countries have already spoken about creating gas quotas - RTRS
  • Russia says it will not ask the EU to lift sanctions since it has large enough margins of safety. However, they will respond in kind to the sanctions imposed - RIA

Data/Events:

  • Lavrov meets indian PM Modi
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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