Fortune Sky is Your Go-to Source for the Latest Finance News, Covering Markets, Business, Industries and Internet.
⎯ 《 Fortune • Sky 》

Russia Latest: Putin Set to Speak at ‘Strong Ideas’ Forum

2023-06-29 16:23
President Vladimir Putin continues a campaign to undercut any sympathy toward Wagner leader Yevgeny Prigozhin and project a
Russia Latest: Putin Set to Speak at ‘Strong Ideas’ Forum

President Vladimir Putin continues a campaign to undercut any sympathy toward Wagner leader Yevgeny Prigozhin and project a “business as usual” approach. After traveling to southern Russia to promote tourism on Wednesday, the Kremlin chief is due to speak Thursday at a Moscow forum titled “Strong Ideas for a New Time.” His comments will be closely parsed for any reference to recent events.

The withdrawal of the Kremlin-funded mercenaries — who provided Russia with some of its most brutal and capable combat units — hasn’t so far made it easier for Ukraine’s high-stakes counteroffensive, according to officials and analysts.

President Joe Biden said Putin has been weakened by Prigozhin’s failed rebellion, as the Russian leader stepped up his effort to portray the mercenary leader as corrupt. Germany’s Chancellor Olaf Scholz agreed that Putin has been weakened, saying “there are cracks in the autocratic structures, the power structures, and that he is by no means sitting as solidly and firmly in the saddle.”

Latest Coverage

  • Where Did All That Russian Gas Go?
  • Wagner’s Exit Won’t Radically Alter Course of War in Ukraine
  • Putin Seeks to Project Strong Image as Military Questions Linger
  • Russians Greeted Wagner Mutiny With a Shrug and Internet Jokes
  • US Backs $15 Billion Sale of Patriot Missile Defenses to Poland

All times CET

Putin to Speak at ‘Strong Ideas’ Forum (9:30 a.m.)

Putin is due to speak Thursday at a forum titled “Strong Ideas for a New Time” in Moscow, an annual event whose title has taken on unexpected symbolism.

Any remarks on the events of last weekend, or the absence of such comments, will be closely watched. The appearance comes a day after Putin traveled to southern Russia for an event focused on tourism development, and was seen on state television mixing with local residents.

Despite the effort to portray the crisis as at an end, questions continued to hang over the extent to which elements within the military and the security services were aware of Prigozhin’s plan to march on Moscow.

EU Leaders to Discuss Ukraine Security Commitments (8 a.m.)

EU leaders will discuss security commitments for Ukraine when they gather in Brussels on Thursday. France recently added the wording to a draft of the leaders’ conclusions.

The statement is meant to highlight the EU’s support for Kyiv with its training mission for Ukrainian soldiers and plans to send the country 1 million artillery shells. Member states want more clarity from France about what it will entail, an EU diplomat said.

Separately, the US, UK, France and Germany are in talks about bilateral security assurances for Ukraine, expected to include commitments on continued weapons supplies, training and financing for its defense against Russia. The assurances could be presented on the sidelines of the NATO summit in Vilnius in July.

UK Terms Russian Aircraft Losses ‘Psychological Shock’ (7 a.m.)

During last week’s short-lived mutiny, Wagner air defense forces reportedly shot down Russian military helicopters and an Ilyushin Il-22M airborne command post aircraft, the UK defense ministry said in a Twitter thread.

While the loss of the aircraft is likely to have a negative impact on Russian air and land operations, the “psychological shock” will almost certainly damage morale within the Russian Aerospace Force, the UK said.

Deaths From Tuesday’s Russian Strike on Kramatorsk at 12 (6 a.m.)

The final death toll from a Russian missile strike on Kramatorsk in Ukraine’s east on Tuesday is 12, Ukraine’s interior ministry said. At least other 60 people were wounded when a popular pizza restaurant was hit.

Ukrainian authorities on Wednesday arrested a man they accused of helping Russia direct the strike, the Associated Press reported. Three teenagers were among those killed.

German Defense Chief Discusses Ukraine’s NATO Prospects (1:08 a.m.)

German Defense Minister Boris Pistorius said there “wasn’t a clear date” regarding Ukraine’s possible membership in NATO, adding “that there is the view that the future of Ukraine is in NATO is enough.”

Pistorius, on a visit to Washington Wednesday, also commented on the aftermath of Prigozhin’s attempted revolt. “What happened in Russia and what’s still going on has to concern us. We had very good meetings with Lloyd Austin and Jake Sullivan,” he said, referring to the US Defense secretary and Biden’s national security advisor.

Scholz Says Germany’s Goal Isn’t Regime Change in Russia (8:22 p.m.)

Scholz said the situation in Russia remains on edge and that Germany would proceed cautiously. “Russia is a nuclear power,” he said in an interview with public broadcaster ZDF. “Therefore we always have to look carefully when dangerous situations arise — and this is a dangerous situation.”

After breaking with Germany’s tradition of staying out of conflict zones, Scholz has positioned Europe’s largest economy as one of Ukraine’s top supporters, supplying tanks and other heavy weapons along with financial aid. “It is necessary to say clearly: we support Ukraine so that it can defend itself,” he said, adding that “the aim of our support for Ukraine is not regime change in Russia.”

Putin Promotes Domestic Tourism With No Mention of Mutiny (7:43 p.m.)

Putin visited Russia’s Dagestan region on the Caspian Sea to discuss domestic tourism with officials as the Kremlin seeks to show it’s returning to business as usual.

Putin made no mention of the weekend’s upheaval in his televised opening comments, which highlighted the surge in domestic tourism after sanctions and other restrictions led to a drop in foreign travel.

Biden Says Putin Weakened, Though Unclear How Much (4:10 p.m.)

The US president said it’s unclear to what extent Putin has lost hold on power, even as he expressed confidence that the Russian leader had. “It’s hard to tell, but he is clearly losing the war,” Biden told reporters in brief remarks at the White House.

Biden has said the US and its allies were not behind the revolt. White House officials have repeatedly declined to comment on the power struggle, saying it is an internal Russian matter.