Ukraine Recap: Putin-Erdogan Talks Monday; Russian ICBM on Alert
(Bloomberg) -- The Kremlin confirmed that Russian President Vladimir Putin and Turkish counterpart Recep Tayyip Erdogan will meet in Sochi, southern Russia, on Monday. The pair are expected to discuss reviving the Black Sea grain deal after Moscow abandoned the agreement - brokered a year earlier by Turkey and the UN - in July. Russian officials have said repeatedly that not enough’s been done to address their demands, and Moscow has bombarded Ukrainian grain infrastructure in the past month. Erdogan’s visit comes days before he heads to India for the G-20 summit.Most Read from BloombergTesla’s $41,000 Model X Discount Unlocks Subsidies Musk Wanted GoneSaola Departs Hong Kong After Bringing Destructive WindsTesla Refreshes Model 3 and Slashes Prices of Top-End CarsSingapore Votes for President in Test of Ruling Party’s SwayPutin Moves to Seize Control of Wagner’s Mercenary EmpireRussia has placed its nuclear-capable Sarmat ICBM on combat alert for the first time. Putin has called the m
(Bloomberg) -- The Kremlin confirmed that Russian President Vladimir Putin and Turkish counterpart Recep Tayyip Erdogan will meet in Sochi, southern Russia, on Monday. The pair are expected to discuss reviving the Black Sea grain deal after Moscow abandoned the agreement - brokered a year earlier by Turkey and the UN - in July. Russian officials have said repeatedly that not enough’s been done to address their demands, and Moscow has bombarded Ukrainian grain infrastructure in the past month. Erdogan’s visit comes days before he heads to India for the G-20 summit.
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Russia has placed its nuclear-capable Sarmat ICBM on combat alert for the first time. Putin has called the missiles, which weigh an estimated 208 tons and have a range of up to 18,000 kilometers (11,184 miles) a guarantee of Russia’s security. On a smaller scale, Kremlin-led forces are holding military exercises in Belarus near the border with Poland, weeks after President Vladimir Putin warned Warsaw that he would treat any “aggression” toward Minsk as an attack on his own country.
Some 10,500 schools across Ukraine opened for the new year - down from almost 14,000 before Russia’s invasion - with 84% having bomb shelters available, Prime Minister Denys Shmyhal said at a Cabinet meeting. Preparations are underway for Russian-run elections in the four regions of Ukraine illegally annexed by Moscow last year. The ballots are being held as part of municipal elections across Russia that end on Sept. 10. The EU in June condemned Russia’s plan for elections in occupied territory, saying the move “seriously violates the UN Charter and Ukraine’s independence, sovereignty and territorial integrity.”
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Putin, Erdogan meet in Sochi on Monday
Markets
Wheat traders are watching for movement on Black Sea grain exports when Putin and Erdogan meet on Monday. Ukraine, meanwhile, hopes to boost grain exports via the Danube and is pushing back on an effort by Poland and four other EU countries to extend a ban on its grain.
Oil is headed for the biggest weekly gain since April after Russia signaled it would extend export curbs and China fired another salvo of state support to bolster the economy in the world’s largest crude importer. US oil futures climbed above $85 a barrel for the first time since November. Read more: Russian Urals at $74 in August, Above Price Cap for Second Month
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