(Bloomberg) — Negotiators from Russia and Ukraine are set to hold further talks Monday, after a weekend where Moscow stepped up its bombardment of western areas close to the border with Poland.
The U.S. and China plan to hold their first high-level, in-person talks on Monday since Moscow’s invasion. The meeting comes after China rejected accusations by U.S. officials that Russia had asked it for military equipment to support the invasion of Ukraine. Beijing, which has sought to present itself as neutral on the war, dismissed the report as “disinformation” and repeated its call for deescalation in Ukraine.
Officials in Ukraine reported at least two people killed when a residential building in northern Kyiv was shelled overnight. A missile strike on a center in the Russian-backed breakaway region of Donetsk killed 16 and wounded 23, Russia’s Interfax news reported citing the separatists. There was no immediate comment from Ukraine.
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All times CET:
Instagram Now Blocked in Russia (11:13 a.m.)
Instagram is now fully blocked in Russia, according to GlobalCheck, a service that studies Internet restrictions in former Soviet states.
Russian prosecutors last week asked a court to declare Meta Platforms an “extremist” organization and ban its operations after Facebook temporarily relaxed its policies so that Ukrainian users could post threats of violence against the Russian military.
Russia has already blocked Twitter and Facebook in recent weeks. Many Russian Instagram users – including small businesses, influencers and opposition figures – posted goodbye messages over the weekend and asked their followers to move to Telegram. The decision will cut 80 million people in Russia off from the platform, its head Adam Mosseri said.
Bayer Suspends Russia Investment (11:10 a.m.)
Bayer AG, the agriculture giant, suspended advertising and investments in Russia and said crop supplies for the 2023 growing season will depend on the country “returning to a path of international diplomacy and peace.”
The German company, which also sells prescription medicines, said it had to separate between non-essential products and life-saving ones that it will keep providing.
“Withholding essential health and agriculture products from the civilian populations — like cancer or cardiovascular treatments, health products for pregnant women and children as well as seeds to grow food — would only multiply the war’s ongoing toll on human life,” Bayer said Monday in a statement on its website.
EU Mulls Russia Export Ban on Luxury Cars (10:17 a.m.)
The EU is discussing a ban on exports of luxury vehicles worth more than 50,000 euros to Russia as part of its latest sanctions package, according to two diplomats familiar with the proposal.
The proposed ban, which is set to be approved as early as Monday and could still change, could apply to models from several European car brands, including Audi, BMW, Mercedes, Ferrari and Porsche. The EU measure would also include boats and planes, as well as chairlifts and motorbikes worth more than 5,000 euros.
Ukraine Talks to Focus on Ceasefire (9:49 a.m.)
A fourth round of talks between Russian and Ukrainian officials will focus on discussing a potential ceasefire with an immediate withdrawal of troops and security guarantees, Ukraine negotiator Mykhailo Podolyak said on Twitter.
Podolyak called it a “hard discussion.”
India Considers Discounted Russian Oil (9:47 a.m.)
India is considering taking up a Russian offer to buy its crude oil and other commodities at discounted prices with payment via a rupee-ruble transaction, Reuters reported citing two unidentified Indian officials.
The officials didn’t tell Reuters how much oil was on offer and what the discount was. The report comes after it emerged last week that India was working out a mechanism to facilitate trade with Russia using local currencies.
India is Said to Consider Rupee Payments for Trade With Russia
China Rejects Report Russia Sought Help (9:29 a.m.)
China rejected on Monday reports that Russia had sought its military assistance for the invasion of Ukraine, dismissing the accusations as U.S. “disinformation.”
“The top priority now is that all parties should exercise restraint to deescalate and cool down the situation,” Chinese Foreign Ministry spokesman Zhao Lijian said. “We should promote a diplomatic settlement rather than further escalating the tension.”
Beijing has sought to present itself as neutral on the war. Still, Zhao repeated Russian claims that the U.S. is operating biolabs in Ukraine, despite the UN Security Council saying Friday it was “not aware” of any such biological weapons programs, underscoring its support for Moscow in countering U.S. narratives.
Chechen Leader Claims He’s Near Kyiv (8:51 a.m.)
Ramzan Kadyrov, the leader of Russia’s Chechnya region, said he joined his forces near Kyiv as part of the Russian invasion.
He posted a video on his Telegram account that showed him meeting with Chechen soldiers in a dark room and said it was taken in Hostomel, about 20 kilometers from the Ukrainian capital, where Russian troops been attempting to capture an airport.
The video’s authenticity could not be confirmed. Units of the Chechen leader’s private militia have been taking part in the fighting, according to Ukrainian authorities.
Ukraine Says 10 Humanitarian Corridors Agreed (8:40 a.m.)
Ten humanitarian corridors were agreed Monday to help civilians flee areas of heavy shelling, Ukrainian Deputy Prime Minister Iryna Vereshchuk said in video statement. There was no immediate confirmation from Moscow.
Ukraine will make another attempt on Monday to unblock movement of humanitarian aid to the southeastern port of Mariupol, she said.
Melitopol mayor Ivan Fedorov remains held by Russian forces. The fate of Dniprorudne mayor Yevhen Matveyev is still unknown, she added.
Stocks Gain As Talks Continue (8:23 a.m.)
U.S. and European equity futures gained as negotiators from Russia and Ukraine prepared for further talks Monday.
A global bond rout deepened, with the 10-year Treasury yield scaling 2% for the first time since 2019, as traders brace for the start of Federal Reserve tightening on Wednesday to curb inflation stoked by surging commodity prices due to the war. Gold declined for a second day. Crude oil dropped following a volatile week of trading.
European Gas Slumps on Talks (8:17 a.m.)
European natural gas prices extended last week’s slump on signs that talks to stop the war in Ukraine may advance, easing tensions over potential Russian supply curbs.
Any progress in the talks would give the gas market a breather after record prices and volatility in the past few weeks. Russian gas shipments crossing Ukraine also continued as normal on Monday.
Dutch front-month gas, the European benchmark, fell as much as 16% to 110.25 euros per megawatt-hour, the lowest since March 1. Prices crashed 32% last week.
Russia-Ukraine Talks To Resume (7:40 a.m.)
Russian and Ukrainian delegations are scheduled to continue negotiations via video link Monday with both sides hinting at progress.
The Monday session will sum up the preliminary results of the talks, Mykhailo Podolyak, an advisor to President Volodymyr Zelenskiy’s chief of staff, said on Twitter.
Kremlin spokesman Dmitry Peskov confirmed the talks, Tass reported.
U.S. Says Russia Asked China for Help (9 p.m.)
U.S. officials say Russia has asked China for military assistance for its war in Ukraine, a sign that the Biden administration is increasingly concerned about the role Vladimir Putin’s most powerful diplomatic partner could play in the conflict.
A U.S. official, speaking on condition of anonymity to discuss delicate matters, did not specify what kind of equipment Moscow had requested. The official declined to say how the administration knows these details. Another U.S. official said the request is not new, and was made just after Russia’s Feb. 24 invasion. White House spokespeople declined to comment.
Russia currently sells far more arms to China than it buys, although Beijing’s rapid modernization of its military has seen it producing more advanced weapons in recent years.
Beijing has stopped short of condemning Russia for its actions in Ukraine but also called repeatedly for a resolution of the conflict. Providing Russia with weapons specifically to use against Ukraine would risk that veneer of neutrality, in a year when President Xi Jinping is eager for stability at home as he seeks an unprecedented third term.
U.S.-China Talks Set for Monday (3:49 p.m.)
Talks in Rome will be the first high-level, in-person talks since the war started. The Biden administration is seeking to enlist China to use its influence on Russia, its ally, to end the crisis.
So far Beijing has declined to condemn Moscow for its actions, even as it calls for negotiations to sustain a cease-fire.
National Security Adviser Jake Sullivan will meet with China’s top diplomat and Politburo member Yang Jiechi in an effort to “maintain open lines of communication,” according to an NSC statement. The impact on regional and global security from the war will be on the agenda, according to a person familiar with the conversation.
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