Ukraine Update: Zelenskiy Will Attend NATO Summit Via Video Link

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Ukraine President Volodymyr Zelenskiy will take part via video link in this week’s special NATO summit to discuss the Russian invasion, his spokesman said. Kyiv said the evacuation of civilians from the besieged southern port of Mariupol continued, but about 100,000 people remain there under bombardment. 

U.S. President Joe Biden, who’s traveling to Europe for Thursday’s NATO meeting, said further sanctions on Russia will be announced during his trip. European Union members Germany and Hungary sought to put the brakes on a potential Russian oil embargo.

The front was largely static throughout the country as Russian forces regroup in response to stiffer-than-expected Ukrainian resistance. 

(See RSAN on the Bloomberg Terminal for the Russian Sanctions Dashboard.)

Key Developments

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  • Biden to Unveil New Russia Sanctions, Energy Aid in Brussels
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  • Russian Billionaires Are Running Out of Havens to Stash Fortunes
  • Visa CEO Vows to Help Employees Amid ‘Long-Term’ Ukraine Battle

All times CET:

Ukraine Says Russian Attempts to Advance Blocked (7:45 a.m.)

The Ukrainian army blocked Russian attempts to advance on all fronts in the past day, its General Staff said on Facebook.

Russian planes and missiles were active over the period, bombarding the capital Kyiv, Chernihiv and the Kyiv and Kharkiv regions, it said. A bridge used for humanitarian deliveries and to evacuate civilians from Chernihiv was destroyed.

Russia’s advances have been largely stalled in recent days, as the war has shifted into a more grinding phase.

Vietnam Airlines to Halt Hanoi-Moscow Flights (3:10 a.m.)

Vietnam Airlines will suspend Hanoi-Moscow flights from Friday after insurance partners sought changes to contracts due to the fighting in Ukraine, according to a spokesperson for the airline. 

The carrier said in a statement it was working to resume the flights as soon as possible.

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Chelsea FC Bidders Wait on Sale (2:55 a.m.)

Potential buyers for Chelsea Football Club remain in limbo days after making their bids, as the New York-based bank handling the sale sifts through offers.

The Raine Group has spent the days since the deadline for making bids last Friday deciding which would make the final cut. One group led by Centricus Asset Management offered more than 3 billion pounds ($3.9 billion) for Roman Abramovich’s club, Bloomberg News reported earlier.

Pelosi Says Putin Is ‘Already Failing’ (2:35 a.m.)

Vladimir Putin’s forces are “in a stalemate with Ukraine” and that means “he’s already failing,” House Speaker Nancy Pelosi said at the LBJ Presidential Library in Austin Texas.

When asked about Putin possibly installing a puppet regime in Ukraine, she said: “It’s never going to be a success for him.”

Pelosi was also asked whether she feared a Putin victory might embolden China to invade Taiwan. “I think they are even seeing the pariah” that Putin has become, she said. “China should take no heart from the reaction that Putin is getting from the rest of the world.”

Oil Rises Before NATO, EU Summits (2:30 a.m.)

Oil ticked higher before meetings of European Union and NATO leaders in Brussels that may see fresh curbs placed on Russia. West Texas Intermediate climbed toward $110 a barrel after ending Tuesday slightly lower.

U.K. Lawmakers Call for More Sanctions (1:01 a.m.)

The U.K. should press ahead with its sanctions against Russia because they are inflicting pain on Putin’s regime, but it should also help lower-income families cope with the higher energy and other living costs, according to a report from the cross-party parliamentary Treasury Committee.

Economic punishments mooted by the U.S., EU and U.K. against Russian energy imports could have a “catastrophic and long-lasting” effect if fully implemented, while the existing measures placed on Russia’s central bank are particularly effective, the report said.

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