Ukraine Latest: Russia Signals Rapid Kherson Retreat, UK Says
European Central Bank President Christine Lagarde said Russian President Vladimir Putin “must be driven by evil forces,” but that his invasion of Ukraine had united the Ukrainian people, NATO and Europe.
(Bloomberg) --
European Central Bank President Christine Lagarde said Russian President Vladimir Putin “must be driven by evil forces,” but that his invasion of Ukraine had united the Ukrainian people, NATO and Europe.
The removal of the remains of 18th century military commander Prince Grigory Potemkin from a tomb in Kherson’s cathedral -- announced by the region’s Kremlin-appointed chief on Russian TV -- is “symbolic” and likely “preempts Russian intent to expedite withdrawal from the area,” the UK said.
Russia’s central bank cited the inflationary impact of the Kremlin’s recent call-up of reservists to fight against Ukraine in pausing its run of six consecutive interest rate cuts. Separately, Defense Minister Sergei Shoigu told Putin that Russia’s call-up of 300,000 reservists to fight in Ukraine had been completed on schedule.
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Key Developments
‘Terrifying’ Putin Driven by ‘Evil Forces,’ ECB’s Lagarde Says
Russian Air Travel is Back, But Aircraft Lack Service, Parts
UK Bans Russian LNG Even Though Imports Have Already Stopped
Russia Pauses Rate Cuts as War Call-Up Stirs Economic Angst
UK Bans Russian LNG Even Though Imports Have Already Stopped
On the Ground
Ukrainian troops repelled Russian attacks in the Donetsk region around Vodyane, Kamianka and Nevelske over the past day, according to the General Staff of the Armed Forces. Russia also continued to attempt offensive actions in the directions of Bakhmut and Avdiivka. Kremlin forces fired four missiles and carried out more than 70 attacks with multiple-launch rocket systems, as well as as many as 25 air strikes. Ukrainian air forces conducted 24 strikes against Russian military supply areas and air defense systems. Two Russian Su-25 attack aircraft, one Mi-8 helicopter and a drone were shot down by air defense units. Russian occupation forces continued an evacuation from the southern Kherson region, and are removing equipment and medicines from local hospitals, according to the General Staff report.
(All times CET)
Potemkin Remains Theft From Kherson ‘Symbolic,’ UK Says (8 a.m.)
Russia’s removal of the remains of Prince Grigory Potemkin from a tomb in Kherson’s cathedral is “symbolic,” the UK defense ministry said, and along with the civilian exodus from the region “likely preempts Russian intent to expedite withdrawal from the area.”
“In the Russian national identity, Potemkin is heavily associated with the Russian conquest of Ukrainian lands in the 18th century, and highlights the weight Putin almost certainly places on perceived historical justification for the invasion,” the ministry said in a Twitter update.
Potemkin’s remains were held in a crypt in the cathedral, including a small bag containing his “skull and bones, carefully numbered,” the New York Times reported.
Lagarde Says Putin’s War Has ‘Reunited’ Ukrainians (5 a.m.)
Putin’s assault on on Ukraine is his attempt to “cause chaos and to destroy as much of Europe as he can,” European Central Bank chief Christine Lagarde said Friday on Irish national broadcaster RTE’s . “Anyone who is behaving in that way must be driven by evil forces.”
Lagarde called Putin a “terrifying person” in referring to her past meetings with the Russian leader, adding “he was not as sick as he is today.” Even so, Putin’s actions have “reunited” the Ukrainian people, she said. “He has rejuvenated NATO and he has certainly brought the Europeans together.”
After expressing her view, Lagarde stressed that she’s “just a central banker,” so “shouldn’t be saying all these things.”
Zelenskiy Scoffs at Russia Saying Mobilization is Finished (8:41 p.m.)
Zelenskiy dismissed Russia’s announcement that it has completed its call-up of 300,000 reservists to beef up its fight in Ukraine.
“We feel completely different on the battlefield,” the Ukrainian president said in his nightly address. “Russia is trying to increase pressure on our positions, using mobilized people, but their training and equipment are so poor that it allows us to assume that soon Russia will need a new wave of sending people to the front.”
Commenting on rolling blackouts, Zelenskiy said about 4 million Ukrainians now have a limited supply of electricity, underscoring his frequent calls for allies to “strengthen our air defenses.”
Ukraine Freezes Electricity Prices Through Winter (7:04 p.m.)
Ukraine’s government approved a decree to keep electricity prices for households unchanged for the winter heating season through March.
“Today, despite the war and massive shelling of energy infrastructure, a decision was made to keep tariffs for households unchanged to avoid additional financial burden on our citizens,” Energy Minister Herman Halushchenko said in an emailed statement.
Russia has intensified shelling of Ukrainian energy infrastructure since Oct. 10, damaging at least 30% of electricity production facilities. Ukraine was forced to introduce power supply limits across its regions and the capital Kyiv may face an electricity shortage of as much as 50%, Mayor Vitali Klitschko said.
Pentagon to Tap Inventories 24th Time for $275 Million in Weapons (6:29 p.m.)
The US Defense Department said it will provide Ukraine with an additional $275 million in weapons, the 24th such drawdown from existing inventories.
This batch will include an additional 500 precision-guided 155mm artillery rounds as well as 2,000 more 155mm rounds of Remote Anti-Armor Mine Systems that dispense tank-busting munitions. It also provides for transferring 250 M1117 Armored Security Vehicles and more than 2.75 million rounds of small arms ammunition.
One new item is four satellite communications antennas. Pentagon spokeswoman Sabrina Singh said the “off-the-shelf” antennas are separate from equipment for Elon Musk’s Starlink satellite system.
Crowd Seeking End to War in Ukraine Interrupts Blinken in Montreal (5:50 p.m.)
Protesters demanding an end to hostilities in Ukraine briefly interrupted an event with Secretary of State Antony Blinken and Canadian Foreign Minister Melanie Joly in Montreal.
The pair were meeting members of Les Filles Fattoush, an organization that assists Syrian refugee women, when demonstrators began shouting “we don’t want you here” and “Yankee go home.” The two were forced to relocate remarks to the press but were never in danger.
Canada to Issue ‘Ukraine Sovereignty Bonds’ (5:30 p.m.)
The five-year bonds are among the measures Ottawa is putting in place to help Ukraine’s government.
The securities will help Ukraine with essential services including paying pensions and purchasing fuel before winter, Prime Minister Justin Trudeau said in an statement. Equivalent proceeds will be sent to Ukraine through the IMF’s administered account.
The bonds will be offered via financial institutions. Investors will be, in effect, purchasing a regular top-rated Government of Canada five-year bond. Zelenskiy later tweeted his appreciation.
Shoigu Tells Putin ‘Partial Mobilization’ Complete (4:29 p.m.)
Russia’s “partial mobilization” -- calling up 300,000 reservists to fight in Ukraine -- is complete and won’t be extended, Defense Minister Sergei Shoigu said in a televised meeting with President Vladimir Putin.
The call-up, Russia’s first since World War II, shocked many citizens and led more than 350,000 to flee the country amid widespread reports of ineligible candidates being drafted and new troops getting inadequate equipment and poor treatment.
Putin on Friday ordered Shoigu to “modernize” Russia’s draft system to ensure such problems aren’t repeated. Shoigu said 218,000 of the mobilized forces are still in training, while the remainder have already been deployed to Ukraine.
Russia Holds Rates Steady on Impact of Partial Mobilization (13:40 p.m.)
Russia’s central bank held interest rates for the first time since the immediate aftermath of the attack on Ukraine, as risks of higher inflation intensify following the Kremlin’s call-up of reservists to fight in the war.
“While the partial mobilization may mainly create disinflationary pressure in the coming months due to subdued consumer demand, its subsequent effects will be pro-inflationary as it adds to supply-side restrictions in the broader economy,” policy makers said.
Read more: Russia Pauses Rate Cuts as War Call-Up Stirs Economic Angst
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