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RUSSIA: Putin, Modi Set to Hold Formal Talks in Moscow

RUSSIA
  • President Vladimir Putin holds formal talks with Indian Prime Minister Narendra Modi in Moscow. Local press note that the two will likely discuss trade, Ukraine, arms, sanctions and nuclear energy. There is no official timing of their meeting.
  • Unusually hot weather and a lack of power generation are leading to a new energy crisis in southern Russia, Vedomosti report. The System Operator has begun to introduce temporary rolling blackouts in certain regions, while wholesale electricity prices in the south are rising twice as fast as in other parts of Russia amid strong demand.
  • Russian exporters have resumed shipping coal to China through the North Korean port of Rason, dispatching 132,000 tonnes in April-May, Kommersant report. Coal shipments to North Korea were last reported in 2021.
  • CPI data is the key data release of the week on Wednesday, where the year-on-year figure is seen increasing from +8.30% in May to +8.65%.
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