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21 Feb 2022

Biden to Meet Putin for Ukraine-Russia Resolution Summit

The Index Today

France on Monday announced that U.S. President Joe Biden has agreed “in principle” to meet Russia’s Vladimir Putin, as long as the latter promises to not invade Ukraine even as the Kremlin maintained silence on the matter.

This comes after Biden said on Friday that a Kremlin invasion of Ukraine could happen “within days” — a claim that Russia continues to deny. The summit was proposed by French President Emmanuel Macron after U.S. intelligence warned of a potential imminent Russian attack on Ukraine.

The U.S. and Russia are set to discuss possible peace talks with the latter aiming for extensive security sanctions from the U.S., including one that would exempt Ukraine from joining NATO whose presence should also be limited in the Eastern European region. However, it remains clear whether these demands would come into fruition or not since the White House has already rejected them.

Lack of clarity in the outline of the proposed summit and the closure of U.S. markets for the President’s Day holiday have restricted gains on Monday trades.

The summit has triggered a rise in U.S. equity futures and the Russian ruble as oil dropped. However, investor appetite for safe-haven assets have dipped only slightly, indicating that investors remain vary of the turbulent political situation in Eastern Europe.

©Photo: Financial Times

Clay pottery with table linens
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