Russo-US Tension Persists as Russia Look to Restrict Black Sea Activity

LOCAL NEWS

• US calls Russia's plan to restrict navigation in the Black Sea an "unprovoked escalation" which was especially troubling given the scale of the troop build-up estimated at 150k Russian troops – TASS
• Ukraine continue to point out Russian troop build-ups over the border, this morning citing the build up of troops in three different directions. - BBG
• Russian epidemiologists warn two partially mutated Covid strains have emerged in Russia, but note they aren't necessarily more contagious – named the Siberian and Northwestern variants. Russia's Academy of sciences will receive descriptions of these strains as soon as the materials are ready for publication – Moscow Times
• Czech Republic have formally ruled out the use of Russia's Sputnik coronavirus vaccine in response to the diplomatic fallout after suspected Russian involvement in a fatal arms depot explosion in 2014 - Moscow Times
• Russian President Putin is to take part in Biden's virtual climate summit on Apr 22 - See News
• Opposition figure Navalny is persisting with his hunger strike in its third week, turning down the offer of food from prison guards yesterday. The US have threatened 'consequences' should Navalny pass away under their care. - BBG

Data - all due at 1700BST/1200ET

• Retail sales; est 1.9% y/y vs 1.3% prior
• Unemployment exp at 5.6% vs 5.7% prior
• Real wages y/y exp at -0.2% vs 0.1% prior