1) Ukraine will no longer insisting on joining NATO
The Ukrainian President Volodymyr Zelensky said he is no longer pressing for NATO membership, according to the report.
“NATO is not prepared to accept Ukraine,” said Zelensky.
Joining NATO is one of the main reasons for the invasion by Russian armies and also one of the conditions that Moscow placed on the negotiation to stop the war with Ukraine.
2) Biden moves on to ban Russian gas
The U.S. President Joe Biden on Tuesday announced that Washington is banning Russian oil, natural gas and coal imports to the U.S. in response to the Russian invasion of Ukraine.
In addition to this ban, Biden warned that it could lead to a spike in gas prices at home, even though the U.S. only imports a small amount of oil from Russia and none of the gas.
3) Surge in commodity prices push US longer-term inflation expectations to historic high
The U.S. longer-term inflation expectations are surging to the highest in data going back to 1998, with the gap between 10-year nominal and inflation-protected Treasury yields known as 10-year breakeven rates climbing to nearly 2.9% due to a surge in commodity prices.
4) Putin bans exports of products and raw materials from Russia
The Russian President Vladimir Putin has ordered his government to restrict export of certain products and raw materials outside Russia until December 31, 2022, according to the decree on special foreign economic measures aimed to ensure Russia’s security.
The list will be determined later, but these restrictions will not cover products or raw materials being transported by citizens for their personal needs.