French President Emmanuel Macron urged Xi Jinping to use his influence with Moscow to help restore peace to Ukraine, saying the Chinese leader could bring all sides together to discuss a way to end the Russian invasion.
(Bloomberg) — French President Emmanuel Macron urged Xi Jinping to use his influence with Moscow to help restore peace to Ukraine, saying the Chinese leader could bring all sides together to discuss a way to end the Russian invasion.
Russian President Vladimir Putin meets with his ally Belarus President Alexander Lukashenko in Moscow, as the Kremlin continues preparations to station tactical nuclear weapons in the neighboring country.
Amid a mostly stagnant situation on the ground, battles continue in eastern Ukraine’s Donetsk region around Avdiyivka, Maryinka and Bakhmut where Russian troops are still attempting to gain full control of the city that’s been the focus of intense fighting for months, the Ukrainian General Staff said in a Facebook statement.
(See RSAN on the Bloomberg Terminal for the Russian Sanctions Dashboard.)
Key Developments
- Ukraine Has Decimated Its Oligarchs But Now Fears New Ones
- US Summoned Russian Ambassador Over WSJ Reporter’s Detention
- Biden Aide Who Helped Design Russia Oil Price Cap Exits Treasury
- Macron Urges Xi to Bring Putin ‘Back to Reason’ Over Ukraine
(All times CET)
Ruble Slides as Traders Speculate on Impact of Shell’s Exit (12:52 p.m.)
Speculation that Shell Plc may convert and repatriate more than $1 billion of ruble earnings from the sale of a project in the Far East has helped drive the Russian currency to its weakest level in a year.
The possible deal — equivalent to as little as one fifth the daily ruble volumes prior to Russia’s invasion of Ukraine — contributed to pushing the currency past the psychologically important level of 80 per dollar for the first time since April 2022 on Thursday.
Read more: Ruble Jolted as Traders Speculate on Impact of Shell’s Exit
Macron Urges Xi to Help Start Negotiations (11:15 a.m.)
“I know I can count on you to bring Russia back to reason and everybody to the negotiation table,” Macron told Xi during a meeting in Beijing on Thursday. European Commission President Ursula von der Leyen is traveling with Macron.
While Macron doesn’t expect China to drop its close partnership with Russia, he does see room for potentially significant moves from Beijing, according to a senior French official. Macron was also expected to warn Xi against supplying Russia with weapons.
Read more: Macron Urges Xi to Bring Putin ‘Back to Reason’ Over Ukraine
Ukraine’s Foreign Reserves Highest in 11 Years (11:10 a.m.)
Ukraine’s foreign exchange and gold reserves neared $31.9 billion as of beginning of April, the highest level since November 2011, according to the central bank’s data.
The nation’s international coffers gained 10% in March, as foreign aid from western allies keeps flowing, while the central bank and the government are spending less foreign currency to support hryvnia and serve the country’s external debt.
Russia Likely Dismissed High-Ranking Commander, UK Says (7 a.m.)
Russia’s ministry of defense likely dismissed Colonel-General Rustam Muradov as commander of the Eastern Group of Forces (EGF) in Ukraine after less than a year, the UK defense ministry said in a Twitter thread, citing recent Russian media reports and social media posts.
“The EGF under Muradov has suffered exceptionally heavy casualties in recent months as its poorly conceived assaults repeatedly failed to capture the Donetsk oblast town of Vuhledar,” the UK said.
Muradov, 50, took over the eastern forces after Russia’s failed attempt to storm Kyiv during its initial invasion 13 months ago. “He is the most senior Russian military dismissal of 2023 so far, but more are likely as Russia continues to fail to achieve its objectives in the Donbas,” the UK said.
US Summons Russian Ambassador Over Reporter’s Detention (5:47 a.m.)
The US summoned Russia’s ambassador for a meeting last week, a State Department spokesperson said, as the Biden administration pressures Moscow over the arrest and detention of Wall Street Journal reporter Evan Gershkovich on espionage charges.
Ambassador Anatoly Antonov was called to the State Department on March 30, where he met with Victoria Nuland, the under secretary for political affairs, the spokesperson said, declining to add details citing privacy concerns. The meeting was reported earlier Wednesday by the New York Times.
Ukraine to Produce Ammunition With Poland (5:45 p.m.)
Ukraine and Poland agreed to set up the joint production of weapons and ammunition, President Volodymyr Zelenskiy was says during a press conference with Polish Prime Minister Mateusz Morawiecki in Warsaw.
NATO Approves Long-Term Aid Program for Ukraine (4:30 p.m.)
NATO agreed to start work on a multiyear assistance program for Ukraine to signal support for the nation over the long-term, the head of the alliance said after a two-day meeting of the bloc’s foreign ministers.
NATO wants to ensure that when the war ends, Ukraine has the highest level of interoperability with allied structures and it’s able to move its military from Soviet era standards to NATO’s, Jens Stoltenberg said, adding that it would be important for Ukraine’s eventual membership to the alliance.
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