Ukraine Latest: IMF To Begin Talks With Kyiv, New EU Sanctions
An International Monetary Fund mission is holding talks starting Monday with Ukrainian officials as the fund weighs a multiyear aid package worth as much as $16 billion to provide a catalyst for more financial aid.
(Bloomberg) -- An International Monetary Fund mission is holding talks starting Monday with Ukrainian officials as the fund weighs a multiyear aid package worth as much as $16 billion to provide a catalyst for more financial assistance. The government in Kyiv is seeking a full loan package after securing a deal in December for a provisional four-month monitoring program.
NATO defense ministers are due to meet Tuesday in Brussels to discuss military support for Ukraine ahead of an expected intensification of fighting. Air-defense systems, “tank coalition” issues, ammunition supplies and training programs will be top of the agenda, Ukrainian Defense Minister Oleksii Reznikov said on Facebook.
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Key Developments
- World’s Rich Reveal How They Spend Their Billions on UK Property
- For Fear or Money, Consumer Giants Are Staying in Russia
- European Gas Is Stuck in Storage After Prices Plunged From Peak
- Oil Falls as Dollar Gain and Port Return Offset Russian Cutbacks
- Wheat Highest in More Than Two Months on Black Sea Supply Worry
On The Ground
Russian troops continued to mount attacks mostly in eastern areas around Kupyansk, Lyman, Bakhmut, Avdiyivka and Novopavlivka, according to Ukraine’s General Staff. Ukrainian troops repelled attacks near 11 settlements in the Kharkiv, Donetsk, Luhansk and Zaporizhzhia regions, it said in a statement on Facebook. Russia remains concerned about guarding the extremities of its extended front line, despite the current operational focus on central Donbas, according to the latest intelligence update from the UK’s defense ministry.
(All times CET)
NATO’s Stoltenberg Says Spy Balloons Show Need for Vigilance (1:30 p.m.)
NATO Secretary General Jens Stoltenberg said that incidents of spy balloons in NATO airspace is an indication that allies need to step up cooperation.
“It’s part of a pattern where China, but also Russia, are increasing their intelligence and surveillance of NATO allies,” Stoltenberg said. “That highlights the importance of our vigilance, increased presence and also that we ramp up, and step up how we share intelligence and how we monitor and protect our airspace.”
US Shoots Down Fourth Object as China Flings New Accusation
NATO Chief Says Russia’s New Offensive Has Already Started (1:20 p.m.)
Stoltenberg said that Russia’s expected increased offensive has already started and that Putin has shown no willingness to de-escalate the war.
“We’ve seen the start already,” Stoltenberg told reporters in Brussels. “What Russia does now is to send in thousands and thousands of more troops, taking big losses but putting pressure on Ukrainians.” He added that it’s imperative for allies to supply Ukraine with more weapons.
Deputy Ukrainian PM Warns on Foot-Dragging (12:45 p.m.)
Any delay by western nations in taking decisions about helping Ukraine will lead to additional and unnecessary deaths of the country’s citizens and destruction of its infrastructure, according to Olha Stefanishyna, a deputy prime minister in the government in Kyiv.
“The basic headline of the message that we Ukrainians are bringing to Europe and around the globe is that whatever action could be taken it should be taken now and it’s urgent,” Stefanishyna said at an event in Berlin previewing this week’s Munich Security Conference.
Ukraine Bonds at Three-Month Low (11:45 a.m.)
Ukraine’s foreign-currency bonds and GDP warrants fell to the lowest since November after Moody’s cut the country’s credit rating to the second-lowest score, Ca, on a par with Argentina.
The agency cited “long-lasting challenges” to Ukraine’s economy and public finances in its announcement published Friday.
China’s Wang to Attend MSC (11:30 a.m.)
China’s top foreign policy official, Wang Yi, will attend this week’s Munich Security Conference with a large delegation, while Russian Foreign Minister Sergei Lavrov has not been invited this time, according to organizers.
“We won’t offer Lavrov, who’s really only the loudspeaker of President Vladimir Putin, a forum for his propaganda,” MSC Chairman Christoph Heusgen told reporters in Berlin. Heusgen left it open whether Ukraine President Volodymyr Zelenskiy might attend as a last-minute “surprise guest.”
Moldova to Tighten Security Checks (11:30 a.m.)
Moldovan President Maia Sandu urged the nation to be on high alert as intelligence officials in Chisinau have confirmed that Russia aims to trigger violent protests to try to effect regime change and derail the country’s EU accession.
Sandu said she has asked the parliament to fast-track the approval of laws that increase the power of prosecutors to stop those involved in attempts to destabilize the country. “We managed to stop such plans in the past and we will do it again,” Sandu said. “The Kremlin’s attempts to bring violence to our country won’t prevail.”
EU to Propose New Russia Sanctions (10 a.m.)
The European Union is poised to propose a new package of sanctions to further restrict the Kremlin’s ability to support its war machine, according to people familiar with the plans.
The measures will include extensive export bans on a number of products, technologies and components that have been identified in Russian weapons deployed in Ukraine, said the people, who asked not to be identified discussing confidential information.
Ukraine Thanks Denmark for Howitzers (9 a.m.)
Ukraine’s defense ministry thanked Denmark for delivering 19 Caesar howitzers, which it said represented the country’s entire stock of the self-propelled artillery systems.
“A true friend who knows that our fight is Europe’s fight,” the ministry said in a tweet. Denmark’s contribution to Ukraine’s defense has sparked a debate about whether it might excessively deplete its own military and compromise commitments to NATO.
Italy Sees End to Russian Gas Dependence (8:30 a.m.)
Italy can end its dependence on Russian gas by the end of this year, Industry Minister Adolfo Urso said in an interview with newspaper Il Messaggero.
Italy can start supplying other countries next year and soon become a European gas hub, also thanks to a doubling of flows via the Trans Adriatic Pipeline from Azerbaijan, Urso told the paper.
More Work Ahead to Restore Energy Supply: Zelenskiy (8 a.m.)
Zelenskiy praised those working to repair energy infrastructure damaged by Russian attacks, saying that a majority of Ukrainians spent the weekend “without many shutdowns.”
“Of course, with the start of the new week, consumption will increase, and therefore there will be outage schedules,” Zelenskiy said late Sunday in his daily address, warning that Ukraine had yet to achieve “a decisive victory on the energy front.” The power system was continuing to meet consumer demand on Monday morning, Energy Minister Herman Halushchenko said in a statement on his ministry’s website.
(A previous version corrected an erroneous timestamp on the map)
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