With the one-year mark of Russia’s invasion of Ukraine a day away, Joe Biden said Moscow made a “big mistake” in suspending a landmark nuclear treaty with the US, but added that he doesn’t believe it signals that Vladimir Putin plans to use atomic weapons. Support for the war effort within Russia is holding firm even as combat drags on and casualties soar.
(Bloomberg) — With the one-year mark of Russia’s invasion of Ukraine a day away, Joe Biden said Moscow made a “big mistake” in suspending a landmark nuclear treaty with the US, but added that he doesn’t believe it signals that Vladimir Putin plans to use atomic weapons. Support for the war effort within Russia is holding firm even as combat drags on and casualties soar.
Germany’s foreign minister outlined “concrete steps” toward peace ahead of an expected vote on a nonbinding United Nations resolution calling for an end to the war. Russia’s ambassador to the UN has already rejected the proposal.
Russia’s War in Ukraine: Key Events and How It’s Unfolding
European Union members are pushing to approve a new package of sanctions against Russia targeting goods used by military. India, meanwhile, has balked at calling Russia’s war in Ukraine a “war” as it hosts G-20 finance chiefs in Bengaluru.
(See RSAN on the Bloomberg Terminal for the Russian Sanctions Dashboard.)
Listen back to the latest in our series of special Twitter Space conversations about one year of war in Ukraine. Today’s focused on the impact on global energy supplies and markets, and on the environment and renewable energy policies. You can access it via this link. You can also listen back to our conversation on the war itself and military lessons learned.
How Does Ukraine Continue to Beat Back Russia? (Podcast)
Key Developments
- One Year On: Russia’s War Casts Long Shadow
- Ukrainians are Crowdfunding Their Defense From Drones to Mortar
- Ukraine Plans to Avoid Gas Imports This Year
- Russians’ Support for Putin’s War Hardens as His Crackdown Grows
- Biden Doesn’t See Putin Using Nukes Despite Halting Arms Treaty
- Five Charts Showing Impact of Russia’s Invasion of Ukraine
On the Ground
Russian forces attacked Ukrainian troops about 90 times along the main axes of their offensive in the country’s east over the past 24 hours, the Ukrainian General Staff said on Facebook. Russians fired 10 missiles and made 19 strikes from aviation, as well as 37 attacks with multiple launch rocket systems. Dozens of towns and villages along the front line suffered from artillery fire, including the city of Kherson.
(All times CET)
Russians’ Support for Putin’s War is Unwavering (10 a.m.)
Even as the invasion has dragged on far longer than the few days that the Kremlin originally hoped when it launched a “Special Military Operation,” and as casualties have mounted, the majority of Russians say they are ready to keep fighting, according to independent polls.
Only about a fifth of Russians want to bring a quick end to the war if that means admitting defeat, according to a Kremlin consultant.
Schools Turn to Distance Learning Amid Airstrikes Threat (10:07 a.m.)
Ukraine’s education ministry recommended schools switch to online classes amid the threat of Russian airstrikes around the invasion’s one-year mark.
“The Russian military disregards the norms of international humanitarian law and has no limits of weapon use,” said minister Serhiy Shkarlet. In the past year, Russian attacks have damaged 3,128 educational institutions, completely destroying 441, according to ministry data.
Putin Has Failed in ‘Energy War’ on Europe: Habeck (9:30 a.m.)
Putin has failed in his bid to “bring Europe to its knees” with his “energy war,” although the continent remains “in a sensitive situation,” said German Economy Minister Robert Habeck.
Asked in an interview with broadcaster RTL/ntv whether German money was still flowing to the Kremlin, Habeck said companies in Europe’s biggest economy were no longer buying Russian gas but conceded that some may still be arriving in Germany via LNG terminals in third countries. The crucial step is to bring down oil prices, which would probably “hit Russia the hardest,” he added.
Spanish Premier Visits Ukraine (9:15 a.m.)
Spanish Prime Minister Pedro Sanchez is the latest world leader to visit Ukraine, arriving in Kyiv early Thursday to show support as the nation prepares to mark the first year of Russia’s full-scale invasion.
Sanchez’s visit comes after US President Joe Biden made a surprise trip to Kyiv, his first since the invasion began, on Monday and Italian Prime Minister Giorgia Meloni visited on Tuesday.
EU Pushes to Approve New Sanctions Package (9:01 a.m.)
European Union member states on Thursday will attempt to approve a new package of sanctions targeting restrictions on goods used by Russia’s military, including technology, components, heavy vehicles, industrial machinery, electronics and rare earths.
The package is also expected to hit Russian rubber, as well as Iranian entities involved in providing Moscow with drones. It may include new reporting obligations for banks and other operators holding sanctioned Russian assets, but a proposal to fine those that don’t comply is set to be dropped.
The package is part of a suite of actions Ukraine’s allies are preparing as Russia’s war reaches the one year mark.
Read more: G-7 Readies New Tool to Boost Enforcement of Russia Sanctions
Wagner Leader Says Mercenary Group Now Getting Ammo (7:41 a.m.)
The founder of mercenary group Wagner, Yevgeny Prigozhin, said his fighters in Ukraine are now receiving new ammunition supplies after a war of words with the Defense Ministry.
“Today at 6 a.m. they announced they’re starting to ship the ammunition,” Prigozhin said, according to his press service’s Telegram account. “I’d like to thank everyone who helped us. You saved the lives of hundreds, maybe thousands of guys who are defending their motherland.”
Prigozhin, a multimillionaire Putin ally who’s risen to greater prominence during the war in Ukraine, has forged a battlefield rivalry with Russia’s regular forces.
Read: Ukrainians Are Crowdfunding Their Defense From Drones to Mortar
India Balks at Calling Russia’s War a ‘War’ at G-20 (7:09 a.m.)
Indian officials hosting the Group of 20 finance chiefs this week are seeking to avoid using the word “war” in any joint statement when referring to Russia’s attack on Ukraine, a person familiar with the matter said.
That would mark a divergence from the consensus reached by leaders in Bali last November. The person said using words like “crisis” will be more acceptable.
Read more: India Doesn’t Want to Call Russia’s War a ‘War’ at G-20
Germany Sets Out ‘Path to Peace’ (6:30 a.m.)
German Foreign Minister Annalena Baerbock outlined “necessary, concrete steps” toward peace in Ukraine that will be part of a resolution to be presented by more than 50 countries at the United Nations General Assembly.
“What the world community is asking for could not be simpler: a halt to Russian attacks, protection of civilians, respect for Ukraine’s territorial integrity through Russian troop withdrawal, and accountability for crimes committed,” Baerbock said in an emailed statement.
“That is the path to peace, I will reiterate that in New York,” she added. “That’s what the world community will decide today, and that’s what the world has been expecting from Russia for a year.”
The Growing Cash Pile in Moscow Foreign Investors Can’t Touch (6 a.m.)
Stock dividends, interest payments on bonds and anything else that Western investors didn’t sell before the war are all part of a pile of money accumulating in Moscow that’s been trapped by sanctions.
The accounts are remnants of what’s left of Russia’s ties to the world of international finance, and another marker of its isolation as the country’s war on Ukraine begins a second year.
Read more: The Growing Cash Pile in Moscow Foreign Investors Can’t Touch
Biden Doesn’t See Nuclear Threat in START Suspension (4 a.m.)
Biden said Putin had made the world less safe by suspending participation in the New START nuclear treaty, but added he does not believe it signals the Russian leader will use nuclear weapons.
Putin made a “big mistake,” Biden said while speaking to reporters Wednesday in Warsaw before a meeting with a group of eastern-flank NATO allies known as the Bucharest Nine.
“I don’t read into that that he’s thinking of using nuclear weapons or anything like that,” Biden said in an interview with ABC News released later Wednesday, adding that the Russian president’s decision was nonetheless “not very responsible.”
G-7 to Extend Crucial Support for Ukraine’s IMF Funding Bid (6:47 p.m.)
Group of Seven nations plan to offer key support for Ukraine’s effort to access International Monetary Fund financing by the end of March as IMF officials have begun talks with the US, people familiar with matter said.
US Treasury Secretary Janet Yellen has discussed a lending program with IMF Managing Director Kristalina Georgieva in recent days, with Treasury and IMF teams in daily contact, one of the people said.
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