June 24, 2022 07:36 GMT
- Kommersant report that brokers have proposed a solution to the issue of frozen Eurobond payments, wherein issuers would transfer funds to Russian investors of Eurobonds directly in RUB, in exchange for payments previously made in foreign currency and frozen in foreign depositories. The piece adds that lawyers had been consulted, who flagged that it is illegal to compel payments from issuers directly. The Ministry of Finance and major issuers did not respond to Kommersant's request.
- Progress of Russian troops around Severodonetsk continues, with reporting suggesting that Ukraine will withdraw its troops defending the city, according to local leaders posting on Telegram. Troops in neighbouring Lysychansk also face potential encirclement by Kremlin forces, according to the Washington Post.
- Natural gas flows from Russia remain a political talking point, with gas shipments via the Nord Stream pipeline at around 40% of capacity, while Yamal-Europe flows are also below regular volumes. The lack of reliability of gas via these routes has prompted the German gas regulator to warn that Russia could cut off gas supply entirely in the near future.
- Putin is today holding informal discussions with his Belarusian counterpart Lukashenko and also continues to take part in the BRICS conference with other global leaders. Foreign minister Lavrov remains in Azerbaijan for a second day.