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US Planning to Impose New Russian Sanctions Ahead of Invasion Anniversary

RUSSIA
  • President Joe Biden’s administration is planning to impose new export controls and a fresh round of sanctions on Russia, targeting key industries a year after Putin started his invasion of Ukraine, Bloomberg report. The measures will target Russia’s defense and energy sectors, financial institutions and several individuals, according to people familiar with the matter.
  • China’s State Councillor Wang Yi will visit Moscow for negotiations, according to Kommersant.
  • Russian exports of gasoil and diesel to Africa are on track to reach a record of more than 180k b/d this month, according to consultant FGE. That trend is “expected to continue as Russian volumes get backed out of Europe and find new homes,” the consultancy said in a note, citing Kpler data.
  • President Putin will deliver his state of nation address to the Federal Assembly tomorrow in what will be the first state of the nation address since the start of the invasion. The two houses of the Russian parliament, the State Duma and the Federation Council, will hold an unscheduled meeting on Feb 22 which might suggest that the speech will contain mandates that must be legislated quickly.
  • There are no major economic releases scheduled today. Looking ahead this week, GDP, PPI and industrial production data are all on the docket.

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