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Preparations Begin for First Presidential Address Since Invasion of Ukraine

RUSSIA
  • The Kremlin has begun preparing for a presidential address to the Federal Assembly, two sources familiar with the matter told RBC. Putin last addressed the Federal Assembly in April 2021. A large number of departments and organizations are traditionally involved in the preparation of the annual address of the head of state to the parliament.
  • Following yesterday's Russian order to remove troops from Ukraine’s Kherson, Yanushevych, the Ukrainian governor of the region, called for caution. “One shouldn’t fall into euphoria ahead of time, whatever the Russians are saying, trust only the official sources,” he wrote on Telegram. Similarly, Podolyak, an advisor to the nation’s president, said on Twitter that there were “no signs that Russia is leaving Kherson without a fight.”
  • US Treasury Secretary Janet Yellen and UK Chancellor Jeremy Hunt discussed finalising and implementing a price cap on Russian oil, according to Bloomberg.
  • Sberbank proposed to the Central Bank to abolish mandatory reserve requirements. This is according to comments from Sberbank's draft on the main directions of monetary policy for 2023–2025, which Vedomosti has reviewed.
  • Data on Wednesday showed annual inflation slowed to 12.6% in October, a slightly larger decline than expected. It decelerated for a sixth month from a peak of almost 18% in April and to the lowest since the invasion of Ukraine.
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