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Putin to Speak at St. Petersburg Forum; African Leaders’ Peace Mission Commences

RUSSIA
  • Putin will meet with UAE leader Sheikh Mohammed Bin Zayed Al Nahyan as part of the St. Petersburg International Economic Forum, according to a Kremlin statement. The UAE is taking part in the event as a special guest country. The UAE president last met with Putin in St. Petersburg in October, where the Russian leader said the Gulf state could play a “significant” role in efforts to end the war.
  • African leaders' peace mission to Ukraine and Russia has commenced, instantly running into multiple logistical problems. The Daily Maverick cited diplomatic sources as noting that Egypt, Uganda and the Republic of Congo have pulled out. South Africa’s Cyril Ramaphosa, as well as the Zambian, Senegalese and Comoran Presidents have decided to continue the mission anyway. It is expected that a peace plan will be drafted by chief diplomats from all seven countries after the leaders meet with Russia's Putin and Ukraine's Zelensky. According to the Daily Maverick, Russia has not yet outlined its conditions.
  • The Russian government needs to return to a discussion about the fiscal rule, Economy Minister Maxim Reshetnikov said as per Bloomberg. The current fiscal rule parameters are not sustainable, he said. In the case of fiscal spending growth next year, Russia will have to prioritize some expenses over others, he added.
  • President Putin will speak at the St. Petersburg International Economic Forum today. Weekly gold and FX reserve data is on the docket.
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