Diplomats from the G-20 reached compromise language on Russia’s invasion of Ukraine, overcoming differences between Moscow and the rest of the group that threatened to derail a joint communique from this weekend’s summit in New Delhi. The US and its allies are seeking tough phrasing to denounce what they see as Russia’s aggression toward its neighbor. Ukraine’s president spoke overnight with Saudi Crown Prince Mohammed bin Salman, who’s at the G-20 gathering.
Turkish President Recep Tayyip Erdogan, who met with Vladimir Putin this week, is urging G-20 leaders to meet some of Russia’s demands to revive a deal that had allowed Ukrainian grain exports s and eased global food prices. Reuters reported Friday that the UN offered to co-sponsor an insurance facility for Russian fertilizer exports, citing a recent letter from UN Secretary General Antonio Guterres to Russia’s foreign minister. The measure would be one of several aimed at persuading Russia to rejoin the agreement it abandoned in July.
Russian forces have “reportedly made notable changes to their command and control in Ukraine to protect command infrastructure and improve information sharing,” according to analysts at the US-based Institute for the Study of War. The UK defense ministry said redeployments across the front line “are likely limiting Russia’s ability to carry out offensive operations of its own” as Kyiv’s forces advance east of the town of Robotyne in Zaporizhzhia.
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Markets
Brent oil held near $90 a barrel to post another weekly gain after supply curbs from OPEC+ leaders Saudi Arabia and Russia were extended. Russia also plans to reduce diesel exports from its key western ports by a quarter this month and keep more supplies at home.
Wheat prices fell in Chicago as Russia continued to ship massive quantities of the grain, even as it stymies Ukraine’s exports. Expectations for record Russian exports this season are keeping prices near the lowest since May.
Coming Up
- Japan’s foreign minister, business leaders visits Kyiv on Saturday
- Putin summit with Kim Jong Un likely in Vladivostok next week
