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EU Member States Back 11th Sanctions Package

RUSSIA
  • EU member states backed a fresh sanctions package targeting Russia which includes measures aimed at countering sanctions circumvention and individual listings, Bloomberg report. The 11th set of EU measures includes a ban on many goods from transiting through Russia and a new tool to crack down on third countries who are not doing enough to stop Moscow evading the bloc’s sanctions.
  • The Wall Street Journal report that Ukrainian forces are proceeding more slowly than planned in their offensive to retake occupied areas, President Volodymyr Zelensky acknowledged, as military commanders said they are taking time to reassess tactics, adjusting to Russia's extensive minefields and attacks from the air. The Ukrainian military has seized eight villages but has also incurred significant losses of Western-supplied tanks and fighting vehicles.
  • President Putin meets Qatari Prime Minister and Foreign Minister Mohammed bin Abdulrahman bin Jassim Al Thani, according to Interfax. He will also attend a ceremony marking the 82nd anniversary of the start of the Soviet Union’s Great Patriotic War.
  • Weekly gold and FX reserve data is on the docket this afternoon. The CBR will publish a report on the banking sector.
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