Member Info for Mjd2020

Looks like Putin has listened to Xi Jin Ping:

The Kremlin announced its readiness to send a delegation to Minsk for negotiations with Ukraine

Moscow. February 25. INTERFAX.RU - Russia is ready to send its delegation to Minsk for negotiations with Ukraine, spokesman for the President of the Russian Federation Dmitry Peskov told reporters.

"As you know, today President of Ukraine Zelensky announced his readiness to discuss the neutral status of Ukraine. Initially, Russian President Vladimir Putin said that the purpose of the operation (Russia in Donbass - IF) is to help the LPR and the DPR, including through the demilitarization and denazification of Ukraine. And this, in fact, is an integral component of neutral status," Peskov said.

"In this context, in response to Zelensky's proposal, Vladimir Putin is ready to send a Russian delegation to Minsk at the level of representatives of the Ministry of Defense, the Ministry of Foreign Affairs and the presidential administration to negotiate with the Ukrainian delegation," said the presidential spokesman.

Earlier on Friday, Zelensky appealed to Putin with a proposal to sit down at the negotiating table to stop hostilities in Ukraine.

https://www.interfax.ru/world/824560

No idea if there is any relevance / link but a call between Putin and Xi Jinping was reported on Interfax at 14:36 Moscow time so I think 11:36 here:

https://www.interfax.ru/world/824530

Hopefully Putin listens. As Lavrov had earlier seemed to dismiss Zelensky’s request for negotiations.

“ "Xi Jinping and Putin discussed Ukraine by phone," the agency informs.

As noted, the President of the People's Republic of China spoke in favor of resolving the Ukrainian crisis through negotiations.”

Switzerland is implementing sanctions too:

https://www.interfax.ru/world/824298

Hopefully all of Putin’s cronies moved their funds there from London and they are hit hard.

We’ll have to see what the board says tomorrow once the full extent of sanctions are known.

MOEX appealing to Russian PI’s not to sell up:

24.02.2022 18:13
Appeal to private investors

The Moscow Exchange Council, consisting of representatives of the largest participants in the financial market, discussed the current situation.

Markets are experiencing extraordinary volatility. We recommend that private investors refrain from excessive emotional reaction and refrain from rash transactions if possible.

As long-term practice shows, this can negatively affect the financial results of investments.

The country's financial authorities have all the necessary resources and are taking measures to stabilize the situation in the markets.

Contact information for the media
+7 (495) 363-3232
PR@moex.com
Contact information for customers
+7 (495) 232-3363
Feedback form

https://www.moex.com/n41744/?nt=106

Polymetal issued an RNS earlier but I don’t think it made a difference. BoD may be better off waiting for the sanctions to be known and then issue a full breakdown of where we are after that to include impact on operations, asset sale, cash position.

https://www.londonstockexchange.com/news-article/POLY/polymetal-response-to-the-escalation-in-ukraine/15342142

TMS, you can’t prove that EUA was overvalued before the Ukraine crisis became as serious as it is now, that’s your opinion. When you admit that, you’ll see that it’s taking a horrible event to help you on your way which should take the gloss off for you. What you’ll also know is that HCW are promoting EUA to their clients. I haven’t seen their report but I imagine it outlines the risk which are apparent and it’s opinion of the potential rewards which it calculated as being a 70p SP target. So I wonder who’s research is better - HCW who advises HNW individuals, or TMS who trolls free to use BBs for a few pounds per point? Oh and if you take pleasure from LTHs loosing money here then remember this - you have lost far more by selling your 5m for pennies rather than anywhere near to the ATH so if you want to be petty about things, stick that in your pipe!

Very sad news for the people of Ukraine. Nothing more to say than that except I hope the situation is resolved as soon as possible with as little loss of life as possible.

Unsurprisingly, business carries on - German regulator approves Rosneft’s purchase of part of Shell’s stake in the Swedt oil refinery in Germany giving it a 91% stake and making Rosneft the 2nd largest oil refiner in Germany.

Hopefully our deal cogs keep turning also.

https://www.interfax.ru/business/823657

Looks like no “tough” sanctions for now according to interfax’s view:

“Most foreign leaders met Putin's decision to recognize the DPR and LPR sharply negatively, but apparently Russia will still be able to avoid the tough sanctions that Western countries threatened the Russian Federation in the event of an attack on Ukraine.”

https://www.interfax.ru/world/823561

Russia provides 45% of PD globally and 35% of the US’s PD is sourced from Russia. The possibility of sanctions has been a driver for the increase in the price of PD according to the below that also outlines that Russian PD will still reach Western markets (according to the analyst from Metal Focus). If that’s the case then our PD should have no trouble finding it’s way into eastern markets:

https://1prime.ru/amp/commodities/20220201/835950694.html

Fully prepared for volatility this week. MOEX is down 6% after yesterday’s black Monday. However, NN is currently 3.3% up. Not sure what makes them different from the others on the index unless it’s the PD.

Just found the link for the meeting - can watch it here:

https://www.rt.com/on-air/550083-putin-security-council-meeting/

They are calling for Putin to recognise Donetsk and Luhansk as being independent.

Nice try Sonic but I’ll take your UK newspaper from a couple of hours ago and raise you a statement from the French government following this PM’s call between Putin and Macron:

Telephone interview with Vladimir PUTIN, President of the Russian Federation.

The President of the Republic spoke by phone with the President of the Russian Federation, Mr. Vladimir PUTIN, this Sunday, February 20.

They agreed on the following points:

- the resumption of work within the framework of the Normandy format on the basis of exchanges and proposals made by Ukraine in recent days.

- intense work to allow a meeting of the trilateral contact group to be held in the coming hours with the objective of obtaining a ceasefire commitment from all stakeholders on the contact line.

- the need to favor a diplomatic solution to the current crisis and to do everything possible to achieve it. To this end, intense diplomatic work will be carried out in the coming days and weeks. The Minister for Europe and Foreign Affairs, Mr. Jean-Yves LE DRIAN, will meet his counterpart Mr. LAVROV in the coming days and several consultations will be conducted in Paris for this purpose.

- this diplomatic work should make it possible to progress on the basis of the latest exchanges by involving all stakeholders (Europeans, allies, Russians and Ukrainians) in order to reach, if the conditions are met, a meeting at the highest level to define a new order of peace and security in Europe.

- in order to conduct this work in serious conditions, the two Heads of State have made firm commitments to carry out all appropriate actions to avoid escalation, reduce risks and preserve peace.

https://www.elysee.fr/emmanuel-macron/2022/02/20/entretien-telephonique-avec-vladimir-poutine-president-de-la-federation-de-russie-1

From RT a short while ago:

20 Feb, 2022 14:55
HomeRussia & FSU
Putin and Macron agree on measures to halt escalation in Ukraine

https://www.rt.com/russia/550045-putin-macron-call-ukraine/

Maybe I’m being cynical, but perhaps the tank lobby wouldn’t like it:
https://www.defensenews.com/land/2022/02/18/state-department-clears-6-billion-sale-of-tanks-to-poland/

I think it’s pretty simple, either Ukraine takes the Minsk agreements forward or I think conditions will be created to allow the leaders of the breakaway republics to request assistance from Russia. The Russian Parliament has already passed a vote to allow Russia to absorb Donetsk and Luhansk which Putin has pushed back on while there is a possibility of implementing Minsk.
From Putin yesterday:
“All Kiev needs to do is sit down at the negotiating table with representatives of the Donbass and agree on political, military, economic, and humanitarian measures to end this conflict. The sooner this happens, the better,” Putin said.
https://www.rt.com/russia/549977-johnson-omens-grim-ukraine/

Russia will not cut itself off from investment and the ability to easily sell goods to G7 countries - including Japan. I know Putin says national security is first and foremost but there is no immediate threat from NATO that would justify economic suicide. Putin was himself touting for further investment from Italian companies only a few weeks ago - citing Enel’s investment in the Kola wind farm and how Russia was making itself more attractive to Italian investors.
I think COVID has hit them hard so perhaps this has contributed to Putin wanting to evoke some nationalism as a distraction but ultimately it’s a short term fix. The main thing people care about is living standards and a costly war, followed by economic shock can’t be on Putin’s to do list.

Looks there’s just been an explosion reported in one of the breakaway regions. Not good news as could be a pretext for Russia to intervene there. Hopefully no one has been hurt as that’s more important than investments but if the BoD wouldn’t mind announcing the asset the sale tonight that would be great.
https://www.rt.com/russia/549901-donetsk-explosion-ukraine/

Russian Foreign Ministry spokesperson slating Liz Truss for stating an invasion would happen and urging her to apologise:

https://www.interfax.ru/world/822497

Truss may have inadvertently helped the situation after all since the Russians dislike her so much they’ve probably decided not to invade out of principle of not proving her right.

More good words from the Russian about diplomacy last night, this from a Putin’s press secretary:

“Peskov said that Putin is ready to negotiate the situation around Ukraine”

https://www.interfax.ru/world/822080

Days are running out for Shorters before these exercises finish.