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Germany Sets Out Peace Steps Ahead of UN Vote

(Bloomberg) — With the one-year mark of Russia’s invasion of Ukraine a day away, Joe Biden said Moscow made a “big mistake” in suspending a landmark nuclear treaty with the US, but added that he doesn’t believe it signals. that Vladimir Putin plans to use atomic weapons.

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Putin praised deepening ties with Beijing during a visit by China’s top diplomat, who said the relationship between the two countries was “solid as a mountain.”

Russia’s War in Ukraine: Key Events and How It’s Unfolding

Germany’s foreign minister outlined “concrete steps” towards peace ahead of an expected vote on a non-binding United Nations resolution calling for an end to the war. Russia’s ambassador to the UN has already rejected the proposal.

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

Listen back to the latest in our series of special Twitter Space conversations about one year of war in Ukraine. Today’s focused on the impact on global energy supplies and markets, and on the environment and renewable energy policies. You can access it via this link. You can also listen back to our conversation yesterday on the war itself and military lessons learned.

How Does Ukraine Continue to Beat Back Russia? (Podcast)

Key Developments

  • Biden Doesn’t See Putin Using Nukes Despite Halting Arms Treaty

  • Ukrainians are crowdfunding their defense from drones to mortars

  • G-7 Readies New Tool to Boost Enforcement of Russia Sanctions

  • Putin Says He Is Waiting for Xi Amid China’s Peace Push on Ukraine

  • Five Charts Showing Impact of Russia’s Invasion of Ukraine

On the Ground

Russian forces attacked Ukrainian troops about 90 times along the main axes of their offensive in the country’s east over the past 24 hours, the Ukrainian General Staff said on Facebook. Russians fired 10 missiles and made 19 strikes from aviation, as well as 37 attacks with multiple launch rocket systems. Dozens of towns and villages along the front line suffered from artillery fire, including the city of Kherson.

(All times CET)

Wagner Leader Says Mercenary Group Now Getting Ammo (7:41 am)

The founder of mercenary group Wagner, Yevgeny Prigozhin, said his fighters in Ukraine are now receiving new ammunition supplies after a war of words with the Defense Ministry.

“Today at 6 am they announced they are starting to ship the ammunition,” Prigozhin said, according to his press service’s Telegram account. “I’d like to thank everyone who helped us. You saved the lives of hundreds, maybe thousands of guys who are defending their motherland.”

Prigozhin, a multimillionaire Putin ally who rose to greater prominence during the war in Ukraine, has forged a battlefield rivalry with Russia’s regular forces.

Germany Sets Out ‘Path to Peace’ (6:30 am)

German Foreign Minister Annalena Baerbock outlined “necessary, concrete steps” towards peace in Ukraine that will be part of a resolution to be presented by more than 50 countries at the United Nations General Assembly.

“What the world community is asking for could not be simpler: a halt to Russian attacks, protection of civilians, respect for Ukraine’s territorial integrity through Russian troop withdrawal, and accountability for crimes committed,” Baerbock said in an emailed statement.

“That is the path to peace, I will reiterate that in New York,” she added. “That’s what the world community will decide today, and that’s what the world has been expecting from Russia for a year.”

Biden Doesn’t See Nuclear Threat in START Suspension (4 am)

Biden said Putin had made the world less safe by suspending participation in the New START nuclear treaty, but added he does not believe it signals the Russian leader will use nuclear weapons.

Putin made a “big mistake,” Biden said while speaking to reporters Wednesday in Warsaw before a meeting with a group of eastern-flank NATO allies known as the Bucharest Nine.

“I don’t read into that that he’s thinking of using nuclear weapons or anything like that,” Biden said in an interview with ABC News released later Wednesday, adding that the Russian president’s decision was nevertheless “not very responsible.”

G-7 to Extend Crucial Support for Ukraine’s IMF Funding Bid (6:47 pm)

Group of Seven nations plan to offer key support for Ukraine’s effort to access International Monetary Fund financing by the end of March as IMF officials have begun talks with the US, people familiar with the matter said.

US Treasury Secretary Janet Yellen has discussed a lending program with IMF Managing Director Kristalina Georgieva in recent days, with Treasury and IMF teams in daily contact, one of the people said.

Read the full story here.

G-7 Readies New Tool to Boost Russia Sanctions Enforcement (6:36 pm)

The Group of Seven nations are set to create a new tool to coordinate their enforcement of existing sanctions on Russia, an effort to tighten the screws and improve compliance, according to people familiar with the matter.

The instrument, tentatively called the “Enforcement Coordination Mechanism,” aims to bolster information sharing and other actions, including regarding countries and firms anywhere in the world suspected of aiding Russia’s war in Ukraine by evading or undermining sanctions, according to one of the people.

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