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Germany’s ex-Chancellor Claims Ukraine Peace is Possible

RUSSIA
  • Following a meeting with President Putin, former German Chancellor Schroeder has claimed that peace in Ukraine is possible, and that Moscow wants a ‘negotiated solution’ to hostilities. The claims were made in an interview with German magazine Stern published today.
  • Services PMI came in ahead of expectations this morning, rising to 54.7 vs. Exp. 51.9. This marked the highest reading for the index since June last year.
  • Kommersant reports that requests from the hospitality sector to exempt tourism from VAT collection had been turned down by the finance ministry. The Finance Ministry also refused requests for a cut to the personal income tax rate as well as insurance premiums for those employed in the sector.
  • Weekly CPI data is due later today, with the current YTD inflation rate clocking at 11.32%.

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