President Volodymyr Zelenskiy condemned what he called “murderous” Russian strikes on Ukraine overnight using Iranian drones, as well as fresh missile attacks and shelling, dismissing any talk of a possible cease-fire coming from the Kremlin.
(Bloomberg) — President Volodymyr Zelenskiy condemned what he called “murderous” Russian strikes on Ukraine overnight using Iranian drones, as well as fresh missile attacks and shelling, dismissing any talk of a possible cease-fire coming from the Kremlin.
“Every time someone tries to hear the word ‘peace’ in Moscow, another order is given there for such criminal strikes,” Zelenskiy said in a tweet. Ukraine’s General Staff said there had been a “massive” drone attack on the country, and that 16 of 21 unmanned aerial vehicles were shot down.
Russian President Vladimir Putin earlier embraced China’s proposals for ending the war, which have been rejected by the US and its allies. Speaking after talks with President Xi Jinping in Moscow, Putin promised even closer ties with Beijing.
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Key Developments
- Xi Aligns With Putin Against US, But Hesitates on Big Gas Deal
- Ukraine Farmers Plant Even Less Grain for Second Wartime Harvest
- Kishida Offers Support to Ukraine, Invites Zelenskiy to G-7
- Ukraine Wins $15.6 Billion IMF Loan, First for Nation at War
- US to Speed Abrams Tanks to Ukraine as Russia Ups Pressure
(All times CET)
Xi’s Moscow Visit Worries Poland (11:45 a.m.)
Xi’s visit to Moscow “makes us concerned,” Polish Prime Minister Mateusz Morawiecki said in Warsaw after meeting his Japanese counterpart, Fumio Kishida.
“This Chinese-Russian axis is dangerous,” Morawiecki said. “We’re trying to convince China not to support Russia in its aggressive international policy,” he said, adding that he discussed with Kishida how to convince “countries of the South” not to support the Kremlin.
Russia Sanctions Critic Leads in Slovakia (11 a.m.)
A former Slovak premier who rejects sanctions against Russia and weapons deliveries to Ukraine is back in the lead six months ahead of a national election, according to an opinion poll.
Robert Fico, who served three terms as Slovakian prime minister, edged ahead in a recent survey by pollster AKO. His Smer party has the backing of 17.6% of Slovaks, with the party of erstwhile political ally Peter Pellegrini, who succeeded him as premier, close behind. No party now in power had half that backing.
Russian Assault on Bakhmut ‘Losing Momentum’ (10:30 a.m.)
There is a “realistic possibility” that Russia’s attack on the eastern city of Bakhmut is losing momentum, partly because some Russian units have been moved to other sectors, according to the latest Defence Intelligence update from the British government.
“Fighting continues around the town centre and the Ukrainian defence remains at risk from envelopment from the north and south,” the Ministry of Defence in London said in a tweet.
Russia Wields New Currency Tool (10 a.m.)
Russia’s central bank is making it more costly for commercial lenders to have liabilities in what it calls “unfriendly” currencies by raising mandatory reserve requirements for foreign tender such as US dollars and euros.
The monetary authority boosted the amount of money that banks must set aside as reserves for “unfriendly” currencies to 7.5% while cutting it for others to 5.5%, effective April 1. It’s the first time that the central bank differentiated the ratios. Previously, the requirement was 7% for all foreign currencies. The ratio for ruble liabilities is 4%.
Ukraine Success ‘Brings Peace Closer’ (9 a.m.)
Although Zelenskiy has stopped short of rejecting China’s initiative to end the war, he said Tuesday evening that a cease-fire, one of its central elements, wouldn’t work. He said in a tweet Wednesday that the success of Ukraine’s forces “really brings peace closer.”
The US and other nations supporting Ukraine have rejected the plan, which they say would let Russia hold territory it seized in Ukraine. A US spokesman tore into Xi for “parroting” Russia’s position.
Japan’s Kishida Pledges Strong Support (2 a.m.)
Kishida, making his first visit to Kyiv since Russia’s invasion Tuesday, offered strong support to Ukraine and invited Zelenskiy to take part in the Group of Seven summit in mid-May. Zelenskiy agreed to participate via video link.
Kishida made the trip to Kyiv after stopping in New Delhi to pressure Indian Prime Minister Narendra Modi to join other leaders in shunning Russia over its aggression. Japan is set to host the G-7 summit in Hiroshima.
IMF Agrees to $15.6 Billion Wartime Loan (1:10 a.m.)
Ukraine won staff backing for a $15.6 billion credit from the International Monetary Fund, setting up the first loan to a nation at war in the institution’s 77-year history.
The IMF and the government in Kyiv reached a staff-level agreement on a comprehensive loan program over four years, the Washington-based lender said in an emailed statement on Tuesday. The agreement is expected to be finalized with the approval of the IMF board in coming weeks.
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