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G20 Fail to Agree on War Language, Putin to Hold Regularly-Scheduled Security Meeting

RUSSIA
  • China and Russia refused to join other G20 nations in a statement in which most members condemned Vladimir Putin’s war in Ukraine, showing divisions remain entrenched on how to end the conflict, Bloomberg report. Calling the conflict a “war” has been made a criminal offense in Russia. China has also avoided using the word “war.”
  • Putin will hold his the regular meeting of the Russian Security Council today. Yesterday, Putin scrapped plans to travel to southern Russia after calling an attack in a village near the border with Ukraine “a terrorist act”, Bloomberg reported. Ukraine dismissed the allegations its forces crossed the border. Kremlin spokesman Dmitry Peskov says Putin plans to hold a regular meeting of his Security Council today, denying reports in some Russian media that a special session had been scheduled Thursday to discuss the events.
  • Sanctions restrictions could lead to a 20% reduction in Russian oil production by 2030 if Russian companies fail to replace critical technologies in the oilfield services market, Kommersant report citing estimates from experts at Yakov & Partners.
  • Data-wise, S&P Global’s PMI for Russia services in February rose to 53.1 from 48.7 in January, its highest reading since July 2022.
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