Poland to Send Soviet-era Jets; US Drone Video
(Bloomberg) – Polish President Andrzej Duda said his country will send four MiG-29 fighter jets to Ukraine in the coming days as the nation moves forward with supplies to bolster Kiev’s air force.
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The US released video footage showing Russian jets dumping fuel on a US surveillance drone in international airspace and apparently clipping the plane, challenging Moscow’s claim that it played no part in Tuesday’s crash.
Mark Milley, chairman of the US Joint Chiefs of Staff, said Wednesday that “we do not seek armed conflict with Russia” following the spy drone incident.
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(All times CET)
China-Ukraine Ministers Discuss Relations, Invasion (5:24 p.m.)
Chinese Foreign Minister Qin Gang spoke to his Ukrainian counterpart Dmytro Kuleba on bilateral relations and the invasion of Russia ahead of a possible talk between the presidents of their countries.
Chinese leader Xi Jinping is expected to travel to Russia next week for talks with President Vladimir Putin, and then possibly talk to Ukrainian Volodymyr Zelenskyy. China released proposals in February aimed at achieving peace in Ukraine, but they were rejected by Kiev’s allies as pro-Russia.
Latvia considers Russian staff at Council of Europe unacceptable (4:40 p.m.)
Latvian Foreign Minister Edgars Rinkevics told Council of Europe Secretary-General Marija Pejceinovic Buric that as Russia is excluded, it is unacceptable for Russian citizens to continue working for the organization’s institutions, according to a statement by the Baltic Nations Ministry.
Rinkevics met with Buric in Riga as Latvia will take over the presidency of the Council of Europe for six months in May. Latvia and its Baltic neighbors were among Europe’s harshest critics of Moscow’s invasion of Ukraine, which supported Kiev with arms and aid.
Poland Arrests Foreigners in Investigation of Russia-Linked Spy Ring (1:48 p.m.)
Polish authorities arrested nine foreign nationals accused of monitoring arms shipments and aid shipments to Ukraine and said evidence suggested the alleged agents received payments from Russian special services.
“The suspects were also preparing for sabotage activities aimed at crippling the transport of equipment, weapons and supplies to Ukraine,” Interior Minister Mariusz Kaminski told reporters.
Read more: Poland arrests nine people in probe of Russia-linked spy ring
Russian economy on track for steady growth, says Putin (1:25 p.m.)
Russia’s economy is on track for “significant” growth in the second quarter as domestic demand picks up despite sanctions, President Vladimir Putin told a televised meeting with top business tycoons.
Inflation will fall close to the 4% target this month, he said, urging executives to increase domestic investment and fill niches created by the departure of foreign companies.
Poland sends Soviet-era jets to Ukraine (1:19 p.m.)
Poland will gradually transfer more Soviet-era MiG-29 fighter jets to neighboring Ukraine, of which it has about a dozen in its fleet, President Duda told a news conference in Warsaw. Defense Minister Mariusz Blaszczak had previously said Poland is in talks with Slovakia over transferring such Soviet-era planes to Ukraine as part of a “broader coalition” of countries.
Ukrainian President Zelenskyy and his military leadership have been searching for planes since the first days of the war. President Joe Biden’s administration has signaled support for NATO allies who have opted to send in air forces, even though the US leader said deliveries of F-16 fighter jets are not currently on the cards.
Ukraine keeps key rate unchanged at IMF talks (1 p.m.)
Ukraine’s central bank kept borrowing costs stable, while the government inked a deal with the International Monetary Fund for about $15 billion in funding.
The policy rate remained at 25%, the level it has been since the central bank raised the benchmark by 15 percentage points in June to stem a rise in inflation.
Read more: Ukraine keeps policy rate unchanged during talks with IMF
US Releases Footage of Intercepting Russian Fighter Jets/US Drones (11am)
The US military’s European Command released footage showing Russian Su-27 jets dumping fuel on a US MQ-9 Reader drone in international airspace and apparently clipping the drone, calling into question Moscow’s claim that it played no role in Tuesday’s launch.
The 42-second video of what the US called the “unsafe/unprofessional interception” was edited lengthwise, but events were “presented in sequential order,” the US said.
The drone crashed into the Black Sea after the encounter. US Defense Chief Lloyd Austin spoke to his Russian counterpart on Wednesday about the incident. Russia said its planes had no contact with the drone, which it said crashed on its own. However, Moscow did not release any official video footage.
Military Orders Power Rheinmetall AG Sales (11 a.m.)
Germany’s biggest arms supplier expects sales to rise by as much as 19% this year as orders for military equipment accelerate as the war in Ukraine enters its second year.
“The change of era and the war in Europe have also heralded a new era for Rheinmetall,” said CEO Armin Papperger in a statement. “Many countries have recognized the urgent need to step up their security efforts.”
Shares in Rheinmetall, which makes parts for the Leopard 2 main battle tank, have more than doubled since Russia invaded Ukraine.
EU to expand efforts to sanction relatives of Russian billionaires (9:42 a.m.)
The European Union will create a clearer legal framework to target family members of sanctioned Russians after an EU court last week overturned the sentences imposed on the mother of Yevgeny Prigozhin, head of Russia’s Wagner mercenary group and close Putin ally .
The bloc’s list field service told member states on Wednesday that it would soon table legislation, people familiar with the matter said. The idea was first floated before the court ruling and has since gained traction.
Read more: EU expands push to sanction relatives of Russian billionaires
Latvian Prime Minister in Kiev for talks (9:37 a.m.)
Prime Minister Krisjanis Karins is in Kyiv to discuss additional NATO and EU support for Ukraine, he said in a statement.
The Baltic country has given arms and assistance worth 1.1% of GDP to Ukraine and will continue to provide assistance, according to the statement. Karins will discuss Ukraine’s goal of joining the EU and will visit Bucha and Irpin during the visit.
The Latvian leader has urged Ukraine to join both the EU and NATO after the end of the war.
EU leaders agree on more action on munitions, says Scholz (9:20am)
Chancellor Olaf Scholz said the heads of state and government of the European Union would agree on further measures at a summit meeting next week “to achieve an even better, continuous supply” of ammunition for Ukraine.
“We will continue to ensure that Ukraine receives weapons and equipment to assert and defend itself,” Scholz said in a speech to the House of Representatives in Berlin on Thursday morning.
He promised the EU would keep up its “sanctions pressure” on Russia and said member states would work together to ensure the measures “are not circumvented via third countries”.
Russian MoD looks to compete with Wagner success: UK (9am)
The Russian MoD’s campaign to capture Vulhedar in Ukraine’s Donetsk region “could be pushed forward in part because it wants its own success to compete with Wagner’s achievements,” the UK MoD said in a Twitter update.
The UK said efforts to attack Vulhedar had slowed, possibly after Ukraine’s introduction of Remote Anti-Armor Mine systems, artillery shells that could fire anti-tank mines up to 17 kilometers (10.5 miles) from the firing unit scatter away. Kiev’s forces launched the mines above and behind advancing Russian units, the UK said.
Glencore not renewing aluminum deal with Rusal (8:30am)
Glencore Plc is poised to walk away from a $16 billion deal to buy aluminum from Russia’s top producer, in a move that would distance itself from one of its closest competitors.
According to the company’s policy of not doing new business with Russia, CEO Gary Nagle said it will not renew a contract with United Co. Rusal International PJSC when it expires next year.
Read more: Glencore will not renew $16 billion aluminum contract with Rusal
Zelenskyy meets with billionaire Laurene Powell Jobs (8am)
The President of Ukraine on Wednesday met with billionaire philanthropist Laurene Powell Jobs, widow of Apple co-founder Steve Jobs and president of Emerson Collective, majority owner of The Atlantic magazine.
The meeting was also attended by Jeffrey Goldberg, the magazine’s editor-in-chief, and journalist Anne Applebaum, author of Red Famine: Stalin’s War on Ukraine.
They discussed the use of technology in war, countering Russian cyberattacks, further involvement of Ukrainian IT specialists and the role of the technology sector in Ukraine’s future reconstruction, according to a post on the president’s website.
Black Sea Grain Trade In Focus As Deadline Approaches (7am)
Wheat prices hit the highest level in more than a week, with traders seeking clarity on the terms of the extension of a key grain export deal that allows Ukraine to ship crops from its Black Sea ports.
The pact, originally brokered by the United Nations and Turkey in July, currently runs until March 18. Russia proposed extending it by 60 days, half of the initiative’s previous two terms, but has yet to receive official responses from all parties, according to Tass.
Kiev has rejected Moscow’s proposal, saying it contradicts the terms of the original deal and wants a four-month extension.
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