Zelenskiy confident UK policy won’t change anytime soon

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President Volodymyr Zelenskiy has said he is confident Britain’s policy towards Ukraine will not change any time soon, after Boris Johnson announced his intention to step down as prime minister.

The risk of potential disruption from Russia has led to a continued recovery in European natural gas. Germany, Europe’s biggest economy, braces as the Nord Stream 1 gas pipeline – the main one to the continent – is due to close next week for annual maintenance, with speculation it will not return not in full service.

Foreign ministers from the Group of 20 nations have started arriving for a two-day meeting in Bali where Russia’s war is expected to dominate. Ukraine has summoned Turkey’s ambassador, citing an “unacceptable situation” after Turkish authorities released a Russian vessel that Kyiv said was carrying seized grain at a busy port.

Key developments

  • German Habeck urges Canada to help thwart Putin’s gas excuses
  • War in Ukraine short-circuits Europe’s clean energy aspirations
  • The United States and its allies discuss capping the price of Russian oil at $40-60 a barrel
  • Scholz accuses Putin of using natural gas deliveries as a weapon
  • War-weary Russian tech talent is invading neighboring Georgia
  • Russia Avoids Worst Recession Fears As Oil Eases Sanctions Pain

On the ground

A Russian missile struck the Donetsk city of Kramatorsk on Thursday, causing casualties, the city’s mayor said. Russia attacked the Odessa region with missiles overnight, destroying two agricultural facilities and hitting Snake Island, the strategic outpost off the Black Sea coast that Moscow forces abandoned a long time ago. a week, local authorities said. Ukrainian forces raised their nation’s flag on the island early Thursday. The tanker “Millennial Spirit”, flying the Moldovan flag, was also hit, adrift for four months after being bombed at the start of the war. In the east, Russian troops tried to establish full control over Luhansk, the Ukrainian general staff said.

Zmiinyi Island (Snake Island) is a space of freedom, like all of #Ukraine.

Step by step, the brave #Ukrainian soldiers liberate our territories until all peaceful towns and villages see ???????? in their sky.

???? @AndriyYermak

#StandWithUkraine️

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Zelenskiy tells CNN UK’s Johnson he’s ‘Ukraine’s true friend’ (3 p.m.)

President Voldymyr Zelenskiy called British Prime Minister Boris Johnson a “true friend of Ukraine”, but told CNN he was confident UK policy towards the beleaguered nation would not change.

Ukraine gained a lot from its relationship with Johnson, which was primarily military support, Zelensky told CNN’s Wolf Blitzer in an interview Thursday.

Ukrainian President meets US Senators Blumenthal, Graham (2:20 p.m.)

Zelenskiy met Thursday in Kyiv with two US senators, Democrat Richard Blumenthal of Connecticut and Republican Lindsey Graham of South Carolina.

The Ukrainian leader told the two men that he counted on the support of Congress for the continued delivery of modern air defense systems. His comments came a day after he said that “finally” Western artillery has “started to work very powerfully” for Ukraine.

Zelenskiy said he wanted to “allow women with children (to) return home by September 1”, when the new school year begins in Ukraine.

European Parliament approves €1 billion loan for Ukraine (2:04 p.m.)

The loan is intended to help Ukraine with “the large financing gap exacerbated by the war”, according to a statement published on the European Parliament’s website.

“Ukraine’s external financing needs have skyrocketed due to the Russian invasion: in addition to the enormous damage caused to roads, bridges, factories, houses, hospitals and other physical infrastructure, the country has also lost its access to financial markets international. The loan approved is the first part of €9 billion in macro-financial assistance planned for Kyiv

Poland could build a terminal to help transport grain from Ukraine (1:36 p.m.)

Poland plans to build a large grain terminal as part of efforts to bring Ukrainian grain to the Baltic port of Gdansk for export, its agriculture ministry said. Poland sees a chance to use 15 trains with special adapters to avoid having to change track gauge between countries. Other proposals include streamlining veterinary procedures.

Ukrainian airline launches flights for Polish tour operator (1:05 ​​p.m.)

Ukrainian International Airlines launched charter flights for Polish tour operator Itaka this month, the company said via email. A Ukrainian Boeing 737-900 will be based at Katowice Airport in southern Poland and will be served by four Ukrainian crews.

Ukrainian International will operate flights from Katowice to destinations around the Mediterranean, the Red Sea and the Canary Islands.

Ukraine summons Turkish ambassador over released Russian ship (11:02 a.m.)

Ukraine has summoned the Turkish ambassador, citing an “unacceptable situation” after Turkish authorities released a Russian-flagged ship that Kyiv said was carrying grain seized in the Ukrainian port of Berdyansk.

“The Ukrainian side received this information with deep disappointment,” the Foreign Ministry said in a statement Thursday, calling for an investigation and a “comprehensive response” to the events.

Ukraine’s chief prosecutor’s office last week asked Ankara to detain the Zhibek Zholy and confiscate its cargo of around 7,000 tons of grain.

Germany’s Habeck urges Canada to pull out Turbine (10:31 a.m.)

German Vice-Chancellor Robert Habeck has made a public appeal to Canada to release a turbine that is under sanctions against Russia and critical to gas flows. He said equipment on the Nord Stream 1 pipeline must be returned before maintenance work begins on Monday, eliminating an excuse for Putin to keep the conduit closed.

“I will be the first to fight for a new package of strong European sanctions, but strong sanctions mean that it has to hurt and harm Russia and Putin more than our economy,” Habeck told Bloomberg. “Therefore, I ask for understanding that we must remove this excuse from Putin’s turbine.”

Romania reopens Soviet-era rail line to help grain sales in Ukraine (9:53 a.m.)

Romania has reopened a Soviet-era rail link from its Danube port of Galati to Ukraine a month ahead of schedule to help boost vital grain exports from its neighbour. Ukrainian grain exports, blocked from leaving major Black Sea ports, have been confined to roads, rivers and railroads to European countries, with shipments well below the normal rate.

Zelenskiy Says Western Weapons Are Having an Impact (9 a.m.)

Ukraine’s president said Western artillery had “begun to work very powerfully” to help troops in Kyiv push back Russia.

“His precision is exactly what we need. Our defenders are inflicting very noticeable strikes on depots and other important occupier logistics spots. And this significantly reduces the offensive potential of the Russian army,” Volodymyr Zelenskiy said Wednesday in his nightly video address to the nation.

Zelenskey said large parts of the National Pedagogical University in Kharkiv were destroyed by a Russian missile strike on Wednesday. “As far as the definition of barbarism goes, this strike fits the bill best,” he said.

European gas extends rally as supply crunch haunts market (8:55 a.m.)

Natural gas in Europe headed for the longest period of daily gains in more than nine months as lingering fears of deeper supply cuts by Moscow spread through the market.

Benchmark futures, which have doubled in value over the past month, rose 4.7% for a seventh day of gains. The crisis has also pushed electricity prices to record highs as Russia’s tightening grip on energy supplies poses the risk that Europe will struggle to keep the heat and the lights on. this winter.

War in Ukraine Shortcuts Europe’s Clean Energy Plan (6:12 a.m.)

Putin’s invasion of Ukraine has forced several countries to backtrack on the European Union’s “Fit for 55” decarbonization plan, to compensate for cuts in Russian fuel supplies. European countries have been burning more coal, planning new liquefied natural gas terminals and expanding the region’s gas pipeline network since February.

The climate plan announced last July by the European Commission proposed to tighten its current cap-and-trade system for carbon emissions, increase renewable energy and phase out internal combustion engine cars to reduce emissions by 55% by 2030 compared to 1990 levels. The war in Ukraine highlighted the extent to which these ambitions relied on gas supplied from Russia.

Scholz accuses Putin of using gas deliveries as a weapon (8:30 p.m.)

The German Chancellor’s remarks come as her country faces the prospect of further cuts in gas flows, with the Nord Stream pipeline, the main gas conduit to Europe, due to close for maintenance next week. Concerns are growing that the pipeline will not return to full service after the work.

“Germany has relied too long and too one-sidedly on energy supplies from Russia,” Scholz said at an event of the renewable energy trade association BEE in Berlin. “Today we have to admit that Russia uses energy as a weapon. Nobody really believes that Russia is cutting gas supplies for technical reasons alone,” Scholz added.

US, Allies Discuss Russian Oil Price Cap Between $40-$60 (5:40 p.m.)

The United States and its partners have explored ways to limit Russian oil revenue while minimizing the impact on its own economies. The range extends from what is thought to be Russia’s marginal cost of production and the price of its oil before the February 24 invasion.

A more specific threshold would depend on market conditions when a cap is agreed and these could change significantly. The goal is to cut Moscow’s revenue for its war in Ukraine, but the risk is that poorly executed measures will lead to soaring oil prices.

© 2022 Bloomberg

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