Bessent: Russian economy imbalanced — 20%+ inflation, 25% of GDP from military buildup. Frozen assets used to finance war.
U.S. will raise secondary tariffs on India for Russian oil. Economics must pressure Putin to end war.
1/
Q: India and China oil imports?
Bessent: China imported 13% of oil from Russia pre-2022, now 16% — diversified supply.
India had <1% pre-war, now 42%. Indian firms profiteered, making $16B reselling cheap Russian oil.
This wartime arbitrage is unacceptable. 2/
Q: Did European tariff negotiations affect Ukraine talks?
Bessent: Yes. Successful EU tariff deal in Scotland weeks ago cleared ground. Meeting with Zelensky and EU leaders at WH showed unity on conflict resolution.
3X
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During negotiations, he misrepresented what he heard from the Kremlin and confused the names of Ukrainian cities. 1/
Just read what Witkoff says:
Kyiv “discriminates” against Russian-speakers in eastern Ukraine, ignoring that hundreds of thousands fled westward into democratic Ukraine rather than staying in occupied areas. 2/
In an interview with Tucker, Witkoff claimed Moscow’s occupation was legitimized by “referendums” where a supposed majority voted for Russian rule. 3/
Zelenskyy: Ukraine will hold elections after the war.
Express: Britain will help organize them: 1. including refugee voting abroad 2. countering disinformation 3. likely financing the process.
UK and Ukraine electoral commissions signed a pact. 1/
Ukraine has been under martial law since Russia’s 2022 invasion. No elections for over 3 years.
Ukrainian Electoral Commission: the pact will strengthen cooperation, bring best practices, and prepare for “the most challenging elections in our country’s history.”
2/
Zelenskyy won in 2019 with a landslide. Re-election was due in 2024 but suspended by war.
Express writes that his approval rating now ~67% — among the highest for European leaders.
3X
Axios: Rubio will lead US-European-Ukrainian talks on security guarantees for Ukraine.
A framework is expected within days. The plan would exclude NATO
membership and U.S. ground troops but could include U.S. air support for European forces. 1/
Trump called Putin on Monday evening and told him he will have to meet directly with Zelensky to discuss his territorial demands and urged him to be ‘realistic’. 2/
Trump told Fox News the US is ready to provide air cover: “We will help by air.”
He said Ukraine won’t join NATO but agreed to work on “Article 5-like” guarantees with Europeans. 2/
Merz: Russia’s demand that Kyiv give up the free parts of Donbas is like asking the US to give up Florida.
No one should force Ukraine into territorial concessions. Ukraine itself must decide this in the course of negotiations. 1/
Merz: The U.S., coordinated with Europe, is ready to provide security guarantees for Ukraine. If a peace deal is reached, Ukraine will receive them. 2/
Merz: I believe Trump was impressed that Europeans spoke with one voice. That mattered to me.
We spent hours preparing this meeting, and I wasn’t sure it would go so well. It could have gone differently, but my expectations were exceeded. 3/