US Deputy Treasury Secretary Meets with German Officials on Countermeasures Against Russia
Economist Adewale “Wally” Adeyemo reacts as he testifies before the Senate Finance Committee during his confirmation hearing to be Assistant Secretary of the Treasury in the Dirksen Senate Office Building in Washington, DC on 23 February 2021.
Jim the Barefoot | Reuters
US Deputy Treasury Secretary Wally Adeyemo and senior officials in Germany renewed their countries’ commitment to deprive Russian President Vladimir Putin of a source of funding for his war in Ukraine through sanctions and the strategic price cap of Russian oil, according to a reading of the meetings.
Adeyemo congratulated Wolfgang Schmidt, German head of the Federal Chancellery; Susanne Baumann, State Secretary of the Federal Foreign Office; and Udo Philipp, state secretary of the federal ministry of economic affairs and climate action, on Sunday to reach an agreement with the European Union to provide Ukraine with an additional 18 billion euros in aid and to impose new sanctions on Russia.
The deputy head of the US Treasury also encouraged joint efforts to hold Russia accountable and to help the Ukrainian government in a time of crisis.
—Chelsey Cox
Moldova fears a Russian offensive in the country’s east next year, says spy chief
Flags of the breakaway Moldovan region of Transnistria and Russia fly in the center of Tiraspol in the breakaway Moldovan region of Transnistria on May 5, 2022.
Vladislav Bachev | Reuters
Moldova’s spy chief warned of a “very high” risk of a new Russian offensive into his country’s east next year and said Moscow still aimed to secure a land corridor through ‘Ukraine to Moldova’s breakaway region of Transnistria.
The comments by Alexandru Musteata, head of the Information and Security Service, echo recent messages from Ukraine, where top army generals have warned in recent days of the threat of a major new offensive Russian early next year.
“The question is not whether the Russian Federation will make a further advance into the territory of Moldova, but when it will,” Musteata told the TVR-Moldova television channel.
He said his agency believed Russia was looking at several scenarios to reach Moldova and that an offensive could be launched between January and February or later between March and April.
— Reuters
The Kremlin considers the EU price cap measure on natural gas “unacceptable”.
A worker walks past gas pipes connecting a floating storage and regasification unit vessel to the mainland in Wilhelmshaven, northern Germany, on December 17, 2022. EU energy ministers are discussing a proposed gas price cap.
Michael Sohn | Afp | Getty Images
Moscow struck in response to the European Union’s move to cap natural gas prices, a deal the bloc reached after months of negotiations.
Kremlin spokesman Dmitry Peskov called the move an attack on market prices and “unacceptable,” Reuters reported, citing Russian news agency Interfax.
Russia’s invasion of Ukraine and the EU’s subsequent rush to end its heavy dependence on Russian gas have contributed to an energy crisis that has sent prices sharply higher and market volatility.
– Natasha Turak
The EU approves a measure to cap natural gas prices to combat the energy crisis
European Union energy ministers agreed Monday on a “dynamic” cap on natural gas prices after two months of intense negotiations.
The introduction of a cap on gas prices has been controversial for European officials. While many EU member states have argued that the measure is essential to reduce sky-high energy costs for consumers, others have worried about the potential market implications of the policy.
“We did our job, we have the agreement. Another impossible mission accomplished,” said Jozef Sikela, Industry Minister of the Czech Republic, which holds the presidency of the EU Council, at a press conference.
Energy ministers overcame their differences and agreed to what they call a market correction mechanism. It will be activated automatically under two conditions: if first-month gas contracts exceed 180 euros ($191) per megawatt hour on the Holland Title Transfer Facility — Europe’s main benchmark for natural gas prices — for three consecutive business days ; and the price is 35 euros higher than the reference price of liquid natural gas on global markets for the same period.
The measure will apply from February 15. When implemented, it will place a “dynamic bid limit” on natural gas futures transactions for 20 business days.
Read the full story here.
—Jenni Reid
The shareholders of the energy company Uniper pave the way for German nationalization
Robert Habeck, Minister of Economy and Climate of Germany, left, Olaf Scholz, Chancellor of Germany and Christian Lindner, Minister of Finance of Germany, on the jetty during the inauguration of the regasification unit of floating storage of Hoegh Esperanza LNG (FSRU) at the Wilhelmshaven LNG terminal, operated by sniper SE, in Wilhelmshaven, Germany, Saturday, December 17, 2022. Germany opened its first liquefied natural gas vessel chartered by the state as Europe’s largest economy races to replace Russian gas amid an energy crisis and freezing temperatures. Photographer: Liesa Johannssen/Bloomberg via Getty Images
Liesa Johansson | Bloomberg | Getty Images
Shareholders of German energy company Uniper approved a rescue package for the gas supplier, paving the way for its nationalisation.
The government announced its plan to nationalize Uniper in September, expanding state intervention in the power sector to avoid energy shortages stemming from Russia’s war in Ukraine. The deal builds on an initial rescue package agreed in July and includes an 8 billion euro ($8.5 billion) capital increase that Germany will finance.
As part of the deal, the government will gain a nearly 99% stake in the energy supplier, which was previously controlled by Finland-based Fortum. The Finnish government has the largest stake in Fortum.
Uniper said its shareholders “approved the proposed capital measures by a large majority” at an extraordinary general meeting on Monday.
European Commission approval under state aid law “is expected in the near future,” he said.
– Associated press
Putin arrives in Belarus for talks with Lukashenko
MINSK, BELARUS – DECEMBER 19: (RUSSIA OUT) Russian President Vladimir Putin (L) and Belarusian President Alexander Lukashenko (R) seen during the welcoming ceremony at the Palace of Independence on December 19, 2022, in Minsk, Belarus
Collaborator | Getty Images News | Getty Images
Russian President Vladimir Putin landed in Minsk for talks with Belarusian President Alexander Lukashenko, Russian state media reported on Monday afternoon.
The meeting, Putin’s first in the Belarusian capital since 2019, comes amid growing fears that Moscow could pressure its ally to increase its military involvement in the war.
Speaking to Russian news agencies early Monday, Kremlin spokesman Dmitry Peskov called Belarus Russia’s “number one ally” but said suggestions Moscow wanted to pressure Minsk to join to the conflict were “stupid and baseless inventions.”
—Karen Gilchrist
Rishi Sunak from the UK to Latvia to meet with allies to discuss Ukraine
UK Prime Minister Rishi Sunak is in the Latvian capital Riga to meet with other members of the Joint Expeditionary Force (JEF), a UK-led alliance of European militaries that share tactical expertise and conduct joint training exercises to increase interoperability.
British Prime Minister Rishi Sunak (left) attends a bilateral meeting with Latvian Prime Minister Krisjanis Karins (right) at the Joint Expeditionary Force (JEF) countries leaders meeting in Riga, Latvia on December 19, 2022.
Henry Nicholls | AFP | Getty Images
He is set to announce a new artillery package for Ukraine and urge other member countries to continue supporting Ukraine. He will later meet up with British troops in neighboring Estonia.
Ahead of the visit, Sunak said in a statement: “From the Arctic Circle to the Isle of Wight, the UK and our European allies have been in our response to the invasion of Ukraine and we remain steadfast in our ambition for peace. in Europe once again… I know this Joint Expeditionary Force summit will only underscore our close friendship and unwavering support for Ukraine.”
The JEF includes the UK, Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, the Netherlands, Norway and Sweden.
– Natasha Turak
The Kremlin rejects reports that Belarus will join the conflict
The Kremlin on Monday rejected suggestions that President Vladimir Putin’s visit to Belarus signals an increase in Minsk’s involvement in the war.
Russian President Vladimir Putin chairs a meeting with members of the government via video link at the state residence in Novo-Ogaryovo outside Moscow, Russia, on December 14, 2022.
Sputnik | Reuters
Russian news agency RIA Novosti reported that Kremlin spokesman Dmitry Peskov called the reports “baseless” and “stupid,” hours before Putin arrived in the Belarusian capital.
Putin’s visit on Monday afternoon is his first to the former Soviet ally in more than three years, and comes as Belarus’ defense ministry said it had completed a series of inspections of the military readiness of its forces armed
—Karen Gilchrist
Zelenskyy asks West for weapons systems
Ukrainian President Volodymyr Zelenskyy asked Western leaders meeting in Latvia on Monday to provide a wide range of weapons systems in Kyiv’s ongoing war with Russia, Reuters reported.
Ukrainian President Volodymyr Zelensky is shown on a screen as he speaks via video link during a plenary session of the Joint Expeditionary Force (JEF) in Riga, Latvia, on December 19, 2022.
Henry Nicholls | Afp | Getty Images
“I ask you to increase the possibility of supplying air defense systems to our country and to help speed up the relevant decisions that our partners will have to make,” Zelenskyy asked during his speech via video link at the meeting of leaders in Riga.
Western allies,…