Friday, March 29

Macron Travels From Moscow to Kyiv for Talks: Ukraine Update


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(Bloomberg) — Emmanuel Macron will travel to Ukraine on Tuesday to meet with President Volodymyr Zelenskiy, a day after the French President sat down with Vladimir Putin in Moscow. The Russian leader said some of the ideas discussed could form “the basis for future common steps,” even as he repeated his warning against Ukrainian membership in NATO.

US President Joe Biden said the controversial Nord Stream 2 natural gas pipeline between Russia and Germany would be stopped if Moscow invades Ukraine. German Chancellor Olaf Scholz, standing alongside the American president at the Monday press conference, didn’t specifically repeat the assertion, but made clear there was no daylight between Berlin and Washington.

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Moscow has repeatedly denied that it plans to attack Ukraine, while the UK and US say Russia has massed almost 130,000 troops close to the border.

Key Developments

Biden says a Russian invasion will ‘bring an end to” Nord Stream 2What we know so far about potential US-EU sanctions on RussiaThe West is waiting for Germany’s chancellor to take chargeWhere military forces are assembling around Russia and Ukraine

All times CET

European Gas Rises after Biden’s Nord Stream 2 Warning (9:17 am)

European natural gas rose following Biden’s remarks that the Nord Stream 2 pipeline would be scrapped in the event of a Russian invasion. Europe’s energy crisis has been exacerbated by the prospect of reduced flows from Russia amid geopolitical tensions surrounding Ukraine.

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Dutch front month gas futures rose as much as 4.3% to 83 euros a megawatt-hour. They traded 1.4% higher by 8:55 am in Amsterdam.

Putin, Macron Speak for Six Hours Monday Night (8:53 am)

Macron met with Putin for about six hours Monday night in a bid to inject momentum into discussions on the Kremlin’s European security demands and efforts to revive the stalled Ukraine peace process.

Putin said that some of the ideas proposed by Macron could form “the basis for future common steps” and he pledged to do “everything to find compromises.” At the same time, Putin stuck to a tough stance, repeating his country’s complaints about the North Atlantic Treaty Organization increasing its presence near the Russian border and warning against any Ukrainian membership in the military bloc.

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Putin said the US’s written response to Russia’s call for legal guarantees for an end to NATO’s eastward expansion and a pullback of its military presence from central and eastern Europe ignored the main demands and focused on secondary issues. He added that Russia is still preparing its answers for Washington and NATO.

UK Mulls Sending Fighter Jets, Warships to Eastern Europe (8:53 am)

Britain is considering deploying Typhoon fighter jets and warships to protect Southeastern Europe, Prime Minister Boris Johnson wrote in an op-ed for the Times newspaper. The UK is also preparing to reinforce the NATO battlegroup in Estonia, he said.

The potential moves come amid a Western push to bolster forces in Eastern Europe in an attempt to deter possible Russian aggression in Ukraine. NATO Secretary General Jens Stoltenberg on Monday reiterated the alliance’s push to increase its presence in the east and said it’s considering a longer- term adjustment to boost troops there.

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