With newsflow out of Ukraine nothing less than a firehose (of often fake news), with market moving headlines firing every minute, traders can be forgiven if they have just given up following the narrative. To help out, here is a snapshot of all the latest market-moving news out of Ukraine from the last few hours courtesy of Bloomberg and Newsquawk.
Highlights
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Biden sees a “real risk” that Putin will deploy chemical weapons in Ukraine, in comments made while he was leaving the White House for Europe. Biden will join back-to-back summits Thursday with NATO, the Group of Seven and the European Union in Brussels, in an attempt to rally allies and partners behind his administration’s tough approach to Russia and to signal a united front to China.
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Russian climate envoy Anatoly Chubais resigned and left the country, citing his opposition to President Vladimir Putin’s war in Ukraine, according to two people familiar with the situation. Chubais, known as the architect of Russia’s 1990s privatizations, is the highest-level official to break with the Kremlin over the invasion. Chubais also gave Putin his first Kremlin job in the mid-1990s and initially welcomed his rise to power at the end of that decade.
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Poland joined the wave of eastern European Union countries expelling Russian diplomats, and German Chancellor Olaf Scholz said Russia is only beginning to feel the harshest effects from sanctions. He added that more measures are on the way, even as his government dug in against a proposal to ban Russian energy imports.
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Ukrainian President Volodymyr Zelenskiy will take part via video link in this week’s special NATO summit to discuss the...