(Bloomberg) — U.S. President Joe Biden said Russia’s use of a hypersonic missile against Ukraine was a sign President Vladimir Putin is growing desperate, and warned about new indications of possible cyberattacks.
President Volodymyr Zelenskiy said Ukrainian forces were still holding Russian troops at bay on many fronts and indicated that the nation would hold a referendum on the terms of any potential peace agreement. The invasion has driven 10 million people — nearly a quarter of Ukraine’s population — from their homes, according to the United Nations. About 3.4 million have fled to other countries such as Poland.
Ahead of this week’s European Union summit, Germany and Hungary are putting the brakes on a potential embargo on Russian oil, deepening differences in the bloc over how to further punish Moscow. The Kremlin warned that such measures would “hit everyone,” especially Europeans.
(See RSAN on the Bloomberg Terminal for the Russian Sanctions Dashboard.)
Key Developments
- Biden Sees Risk of Russian Cyberattack on U.S. as Sanctions Bite
- Stalled Elsewhere, Russia Focuses on Mariupol in Ukraine Plan B
- Oil Thirst Is Forcing Biden to Pivot U.S. Back to Saudi Arabia
- YouTube at Risk of Russia Ban After Facebook Is Deemed Illegal
- Beijing Tells Chinese Firms in Russia to Help Fill Economic Void
All times CET:
Ukraine Forces Holding Russia at Bay: Zelenskiy (8:30 a.m.)
Zelenskiy repeated his assertion that Russian troops were still largely being held back, requiring them to focus on reinforcing existing positions rather than taking new ones.
In a late night video address, Zelenskiy said Russia had shelled locations in the Zhytomyr region of northern Ukraine. He accused troops of firing at convoys of civilians evacuating near Zaporizhzhia, a city in the south which has a nuclear power plant now controlled by Russia. Humanitarian corridors designed to allow safe passage of people from conflict areas have struggled to hold in the south, including for the besieged port city of Mariupol.
Oil Jumps as EU Debates Russian Oil Ban (8:25 a.m.)
Oil surged for a fourth day as the EU debates a possible ban on Russian crude imports to further punish Moscow. West Texas Intermediate topped $114 a barrel after jumping 18% over the previous three days.
Meanwhile, crop futures extended their advance on supply fears, with soybeans climbing to the highest intraday level in almost two weeks and wheat prices also rising. U.S. and European equity futures were little changed.
Russia Halts WWII Peace Talks With Japan (1:57 a.m.)
Russia will stop negotiations with Japan on a peace treaty that would officially end a conflict dating back to World War II after Tokyo imposed unprecedented sanctions over the invasion.
The two countries never sealed an official treaty ending the war as they wrangled for decades over a small group of islands close to Hokkaido. The Soviet Union seized the isles in 1945, expelling thousands of Japanese residents.
Biden Says Hypersonic Missile Shows Putin Desperate (12:10 a.m.)
Biden said the Ukrainians are “wreaking havoc against the Russian military, whether it’s their tanks, or their helicopters or their aircraft,” adding: “And if you notice, they’ve just launched their hypersonic missile because it’s the only thing they can get through with absolute certainty.”
U.S. Defense Secretary Lloyd Austin declined to confirm that Russia had used a hypersonic weapon in a CBS News interview a day earlier. The missile, designed to travel several times the speed of sound, is “almost impossible to stop,” Biden said in remarks to the Business Roundtable, a Washington lobby group.
The president also stressed the danger of cyberattacks, saying of Putin: “He has the capability. He hasn’t used it yet but it’s part of his playbook.”
More stories like this are available on bloomberg.com
©2022 Bloomberg L.P.
