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Negotiators Soften Positions as Russian Military Gains on Kyiv Slow

RUSSIA
  • Both sides seem to be coming closer together on negotiations, with Russian dropping its surrender preconditions and Ukraine stepping back from its NATO goals – creating scope for improved dialogue and ceasefire progress.
  • Putin’s comments were somewhat at odds with the negotiators’ positions, but his goals are crucial in terms of ending the conflict when an eventual meeting with Zelensky comes around.
  • Russia has made very little military progress in the last week or so, bringing forward the spectre of a stalemate, chemical weapons usage or protracted conflict for Kyiv is Russia remains resolute in its goal to take the capital.
  • Russian military fatigue, however, does limit scope for the conflict to extend to other NATO countries and a broader conflict erupting.
  • Today’s focus remains on ceasefire progress and dialogue, followed by the FOMC meeting this evening – with the Fed due to deliver its first +25bp rate hike. Guidance from Powell on the balance sheet will be key.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
EM BulletHomepagemarkets-real-timePolitical RiskPolitical Risk BulletBulletEmerging Market News
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
EM BulletHomepagemarkets-real-timePolitical RiskPolitical Risk BulletBulletEmerging Market News

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