(Bloomberg) -- Ambassadors to the European Union were due to discuss a ninth package of sanctions against Russia on Wednesday.
New proposals would impose restrictions on Russia's drone sector as well as on other technologies and components used by Moscow for military purposes. The measures would also target services, investments and Russia's media and financial sectors, and add about 180 individuals and entities to the EU's sanctions list.
Russian President Vladimir Putin discussed “attempts of some western nations to introduce anti-market limits on the price of Russian crude” in a phone call with the UAE President Sheikh Mohammed bin Zayed Al Nahyan, according to a statement from the Kremlin. Russia is looking for ways to counter the price-cap.
(See RSAN on the Bloomberg Terminal for the Russian Sanctions Dashboard.)
Key Developments
- Poland Makes U-Turn, Accepts German Patriot Missiles on Its Soil
- Airlines Urge EU to Set Terms for Return of Russia Flights
- EU Leaders to Focus on Next Winter After Russian Gas Supply Cut
- A Year in the War That's Killing Putin's Lies: Leonid Bershidsky
On the Ground
Russian forces attacked the Dnipropetrovsk region with loitering drones and heavy artillery overnight, governor Valentyn Reznichenko said on Telegram, adding that Ukrainian troops shot down all of the eight UAVs. Parts of the Zaporizhzhia region were hit at night with drones and missiles that wounded three people, according to governor Oleksandr Starukh. In the east, Russian forces carried out offensive operations on the Lyman, Bakhmut and Avdiyivka axes, Ukraine's General Staff reported on Facebook. Russian efforts to encircle Bakhmut have not succeeded, though the Russian side claimed that marginal advances were made near the city, the US-based Institute for the Study of War said.
(All times CET)
Russian Damage to Ukrainian Infrastructure Worth Over $70B: Ministry (12:30 p.m.)
The amount of damage caused by Russian strikes on Ukrainian infrastructure targets and civilian residences, since the start of the invasion, has already exceeded $70 billion, deputy infrastructure minister Yuriy Vaskov said at an EBRD online conference Wednesday. That includes $30 billion in the transport sector and $39 billion in housing losses, he said.
“We have already started the restoration of roads, bridges, railway infrastructure, built 12 module towns for those who lost their houses,” Vaskov said.
Ukraine Grapples With Power Deficit Amid Frosts, Ukrenergo Says (11:55 a.m.)
Ukraine continues to experience a significant power deficit, national grid operator Urkenergo said on Telegram. The most difficult situation is in the east of the country, where temperatures fell to -17C after Russian forces made repeated attacks on several energy facilities Tuesday evening.
Putin Discusses Oil Price Limits with UAE Counterpart, Kremlin Says (10:14 a.m.)
Putin has discussed “attempts of some western nations to introduce anti-market limits on the price of Russian crude” in a phone call with the UAE President Sheikh Mohammed bin Zayed Al Nahyan, according to a statement from the Kremlin.
Russia is looking for ways to counter the price-cap and the decision will be taken by the end of the year, Deputy Prime Minister Alexander Novak said earlier this week. One of the potential solutions is setting a ‘price floor' for international sales of Russian oil barrels, according to two officials familiar with the discussions.
NATO Chief Says on Drone Strikes That Ukraine Has Right to Defend Itself (10:06 a.m.)
Asked about recent strikes inside Russia, NATO Secretary General Jens Stoltenberg said Ukraine has the right to defend itself against attacks by Russia on its cities and critical infrastructure.
The alliance chief said the conditions are currently not ripe for peace negotiations because Russia has showed “no sign of engaging in negotiations which are respecting the sovereignty and territorial integrity of Ukraine,” he told the Financial Times in an interview. He said that Ukraine has concerns Russia could use a pause in fighting to regroup and launch a bigger offensive later on, given that Ukraine currently has the momentum.
Stoltenberg added that NATO needs to be prepared for a difficult relationship with Russia for a long time. “When this war ends, it doesn't mean that we go back to some good or normal relationship with Russia,” he said.
Turkey's Karpowership in Talks to Provide Power to Ukraine: AA (10 a.m.)
Floating gas-fired power plants supplier Karpowership is in talks to provide electricity to Ukraine via Moldova and Romania, Turkish state-run Anadolu Agency cites Managing Director Zeynep Harezi as saying. The company plans to provide about 300MW to 400MW power to Ukraine from ships based in Moldova and Romania.
Russia Resumes Drone Attacks After Three-Week Break (8:50 a.m.)
Russia launched 14 Iran-made single-use drones to attack Ukraine overnight following a three-week break, according to Ukraine's Air-Forces. The drones came from the South-East, it said in a statement on the Telegram-channel citing preliminary information. Ukraine's air-defense troops shot down at least 11 drones.
Russia started to use Iran-made loitering drones in its war against Ukraine in the fall as its stock of missiles was depleting, but then scaled down their usage. Earlier this week Ukraine's military spokesman said that Moscow probably halted launching drones due to the chill weather as some components are not resilient to the cold. The Kremlin and Iran have denied Iranian drones are used in Ukraine.
Blinken Says US Has Not Aided in Strikes on Russia (11 p.m.)
US Secretary of State Antony Blinken said the US had not encouraged or helped Ukraine to launch strikes inside Russia, but contrasted Ukraine's actions against what he said was a barrage of Russian missile attacks. Russia has accused Ukraine of carrying out attacks on airfields in its territory.
“We have neither encouraged or enabled the Ukrainians to strike inside of Russia,” Blinken said at a press conference Tuesday. “But the important thing is to understand what Ukrainians are living through every day with the ongoing Russian aggression against their country.”
“Put it in context — what's happening every single day and every single night Ukraine is strike upon strike coming from Russia and now trying to take out the civilian infrastructure that is allowing people to have heat and water company electricity,” Blinken said.
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