NATO Summit Kicks Off at 0900GMT; Russian Firms Eye RUB-Denominated Contracts

LOCAL NEWS

• Ceasefire talks have seen little progress this week, despite early concessions from Zelensky. Western officials continue to highlight Ukrainian counteroffensives on the outskirts of Kyiv, with Russia facing logistical/equipment difficulties and low morale issues.
• Western leaders will hold a number of meetings today including the NATO Summit (starts 0900GMT), G7 meeting (1310GMT), EU Council (1530GMT) & Biden presser (0700GMT)
• CBR imposes a moratorium on excluding shares of foreign companies from exchange lists until January 1st 2023 if the de-list from foreign bourses. Says Russian exchanges will keep listings of foreign companies with Russian roots if they are delisted on foreign bourses - RTRS
• Western Officials say the resignation of Putin’s advisor Anatoly Chubais is encouraging, but unlikely to shake Putin’s firm grip on power. Similarly, reports emerged yesterday that, as many had speculated, CBR Governor Nabiulina had planned to resign prior to last week’s meeting – but was stopped at the last minute by Putin – Sky, RTRS
• Russian space agency Roscosmos will reportedly switch to rouble-denominated contracts with other countries following Putin’s announcement of the same move for oil/gas exports - TASS