Russia’s defense minister unveiled plans to create new commands along its western frontier as the nation expands the military to 1.5 million people amid deepening tensions with the US and its allies.
(Bloomberg) — Russia’s defense minister unveiled plans to create new commands along its western frontier as the nation expands the military to 1.5 million people amid deepening tensions with the US and its allies.
As members of the global elite gather in Davos, Polish President Andrzej Duda said pressure is growing on the German government to give the green light to send German-made Leopard battle tanks to Ukraine. Olena Zelenska, the wife of Ukraine’s president, used a speech to the global elite gathered in Davos to urge the release of thousands of Ukrainians deported to Russia, including illegally adopted children.
The death toll in a missile strike on an apartment building in the city of Dnipro on Saturday rose to 41, including four children, according to Kyrylo Tymoshenko, deputy head of President Volodymyr Zelenskiy’s office. Another 79 people were injured, he said on Telegram.
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Key Developments
- Ban on Russian Fuel to Boost Asia’s Refiner Profits, Rystad Says
- US Funds Win $118 Million Asset Freeze Over Lost Ukraine Grain
- Scholz Nominates Pistorius as Germany’s Next Defense Minister
- US Tanks to Ukraine Would Help Germany Send Leopard, Habeck Says
- Russians Triple Turkish Property Purchases to Record in 2022
On the Ground
Ukrainian troops repelled attacks near more than 20 settlements, including Soledar and Bakhmut in the eastern Donetsk region over the past day, the General Staff said on Facebook. According to the statement, Russian forces conducted two missile and seven air strikes, as well as more than 70 attacks from multiple-launch rocket systems over the past day. Six Russian missile carriers capable of launching a total of 44 Kalibr missiles are deployed in the Black sea, Ukrainian military spokeswoman Natalia Humenyuk said on television.
(All times CET)
Blackrock’s Fink Says Building Ukraine Reconstruction Fund (1:20 p.m.)
The Ukrainian government hired BlackRock Inc. to help build a reconstruction fund for the war-battered country and the fund has “the whole team tasked,” Chief Executive Officer Larry Fink said in an interview with Bloomberg TV at the World Economic Forum in Davos.
“Our job is to make sure that the opportunities for private capital can come to Ukraine and we will have a fair and just return on that,” Fink said, adding that BlackRock is also helping Ukraine to hire the right team. “Our job is to make sure that the new Ukraine is an open society, open economy and capital will be there.”
President Zelenskiy last year discussed having BlackRock provide free consultations to his government on both a fund and support for the country’s economy.
Putin Says Defense Industry Boosting Russian Economy (12:43 p.m.)
Russia’s defense industry has boosted output sharply in the last year amid the war in Ukraine, with some factories working nearly around the clock, helping support overall economic growth, Vladimir Putin said.
The Russian president told a televised video-conference with officials that the economy contracted 2.1% in the first 11 months of last year and will report a drop of 2.5% for the full year, less than many forecasters had expected. Government spending has surged amid the war, widening the deficit as revenues fall short amid sanctions and other restrictions on Russia.
Ukraine’s First Lady Addresses World Economic Forum (12:11 a.m.)
Zelenska called for the release of Ukrainians and urged participants at the World Economic Forum in Davos to unite efforts to contain Russian aggression to ensure existing challenges don’t become a full-blown global crisis.
Russia to Boost Troops in West With Army Expansion (10:49 a.m.)
New structures in the regions around Moscow, St. Petersburg and Karelia on the border with Finland will be created under the program, Defense Minister Sergei Shoigu told commanders. The major changes will start this year and continue through 2026, while “self-sufficient” units will be set up on the Ukrainian territories that Russia has illegally annexed, he said.
Putin last month approved a plan to boost the size of Russia’s military from the current target level of 1.15 million but the Kremlin hasn’t said how fast that will take place.
Russian Intelligence Chief Sees Possible New Meeting With CIA Head (10:34 a.m.)
Sergei Naryshkin, the head of Russia’s foreign intelligence service, said a new meeting with the US’s Central Intelligence Agency chief William Burns is possible, Tass reported.
Dates will be determined by agreement between the two sides, he said, according to the state-run news service. Naryshkin said his November talks with the CIA director in the Turkish capital were informative and both parties managed to clarify their positions. Tass also cited the Russian intelligence chief as saying that he discussed Ukraine on a periodic basis with European counterparts, though declined to name them.
Ukraine Extends Power Cuts to Six Regions, Ukrenergo Says (9:55 a.m.)
Ukraine extended emergency power cuts to six regions as they surpass consumption limits amid a continuing electricity deficit in the country, Ukrenergo said on Telegram.
The significant shortfall has been caused by missile and drone attacks on energy infrastructure as well as windy weather, and it’s especially acute in morning and evening peak hours, the grid operator said.
Poland Sees Potential New Chapter (9:25 a.m.)
Polish President Andrzej Duda said pressure is growing on the German government to give the green light to send German-made Leopard battle tanks to Ukraine.
Poland has pledged to supply about 14 Leopard battle tanks and the country is talking to “a few allies” to ensure additional vehicles, Duda said during a panel discussion at the World Economic Forum’s annual meeting.
Shipping them has the potential to start “a new chapter” of the war, he said. Poland already supplied more than 260 of its Soviet-model battle tanks last year, he said.
Ukraine Seeks to Add Repaired Nuclear Generator to Grid Next Month (7:44 a.m.)
Ukrainian nuclear power operator Energoatom plans to turn on one nuclear generating block early next month, Interfax reported, citing the company’s president, Petro Kotin. It was put into repair in early January and is now being loaded with fuel, Kotin said. After Russian troops seized the Zaporizhzhia plant with its six generators, which are currently idle, Ukraine controls nine nuclear power blocks.
Rescue Operations Continue in Dnipro (7:00 a.m.)
The rescue operations in Dnipro after the missile strike on a nine-story apartment building have been going on for more than 63 hours, and 90% of the rubble has been removed, Dnipropetrovsk region Governor Valentyn Reznichenko said on Telegram.
UK Foreign Secretary Set to Discuss Ukraine in US, Canada (6:49 a.m.)
UK Foreign Secretary James Cleverly is set to address the Center for Strategic and International Studies in Washington before holding talks with US counterpart Secretary of State Antony Blinken.
The UK has announced that it will send tanks, artillery and armored vehicles to Ukraine.
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