White House Cancels Biden, Blinken Meetings & Imposes Sanctions

LOCAL NEWS

• White House cancels Biden-Putin Summit at the weekend and Lavrov-Blinken meeting on Thursday, given that the US classified Russia’s recognition of LPR & DPR an “invasion.” US imposed sanctions on VEB bank & Promsvyazbank and Russia’s sovereign debt -cutting it off from Western financing.
  • Russian elites were also targeted with asset freezes and trade/travel bans, but threatened more sanctions on the likes of VTB & Sberbank and implement export controls if Russia further invades Ukraine.
  • Says it will continue to provide military support to Ukraine, but has no intention of fighting Russia – moving troops to Estonia, Latvia & Lithuania – RTRS
• Japan also sanctioned Russia including; the termination of the issuance of visas to representatives of the republics of Donbass and the freezing of their capital, a ban on export-import relations with these republics, as well as on the placement and operations with the new sovereign debt of the Russian government - IFX
• Russian Ambassador Antonov says sanctions imposed by Biden would hurt global financial and energy markets, as well as ordinary citizens in the US.
  • Says sanctions will not see Russia review its foreign policy as Russia has learned to live with them. Analysts say US exposure to Russia is relatively limited, but the energy price impact would be felt at home - BBC
• Maxar satellite images show new troop movements in Western Russia and more than 100 vehicles in Belarus – all close to Ukraine’s borders. Meanehile, Russia says Naval ships will return to Russia after drills in the Arctic – Tass, BBC

Data:

• 1600GMT: Feb 18 CPI WoW, 0.13% prior
• 1600GMT: Feb 18 CPI weekly YTD, 1.29% prior