Jonathan Karl: “Keep your friends close, your enemies closer and your top advisors as far away as possible.”
Switzerland to Freeze Russian Assets
“Switzerland, a favorite destination for Russian oligarchs and their money, announced on Monday that it would freeze Russian financial assets in the country, setting aside a deeply rooted tradition of neutrality to join the European Union and a growing number of nations seeking to penalize Russia for the invasion of Ukraine,” the New York Times reports.
“Switzerland said it was departing from its usual policy of neutrality because of ‘the unprecedented military attack by Russia on a sovereign European state,’ but expressed a willingness to help mediate in the conflict. It also joined European neighbors in closing its airspace to Russian aircraft, except for humanitarian or diplomatic purposes.”
Ukraine Vows Not to Surrender
“Ukraine has vowed that it will not surrender to Russia, as talks are held between delegates from both countries following days of clashes across Ukraine,” CNBC reports.
Said Foreign Minister Dmytro Kuleba: “Ukraine is ready to continue seeking a diplomatic solution, but Ukraine is not ready to surrender or capitulate.”
U.S. Bans Transactions with Russian Central Bank
“The U.S. has taken its most aggressive step yet to cripple Russia’s economy and financial system, announcing a ban on transactions with Russia’s central bank and new sanctions on the Russian Direct Investment Fund and its chief executive Kirill Dmitriev,” the Financial Times reports.
“The move by the U.S. Treasury on Monday morning follows a joint pledge by western nations on Saturday to block Russia’s ability to access roughly $630bn in foreign reserves and impose huge costs on its economy in the wake of its invasion of Ukraine.”
CNBC: “The new measures will also target the National Wealth Fund of the Russian Federation and the Ministry of Finance of the Russian Federation.”
The West’s Plan to Undermine the Ruble
“By targeting Russia’s central bank with sanctions, experts said, American and European leaders have taken aim at what could be one of President Vladimir Putin’s greatest weaknesses: the country’s currency,” the New York Times reports.
“In Russian cities, anxious customers started lining up on Sunday in front of ATM’s, hoping to withdraw the money they had deposited in banks, fearful it would run out. The panic spread on Monday.”
“In Russia today, as the purchasing power of the ruble drops sharply, consumers who hold it are finding that they can buy less with their money. In real terms, they become poorer. Such economic instability could stoke popular unhappiness and even unrest.”
Britain Moves to Crackdown on Russian ‘Dirty Money’
“Britain will intensify a crackdown on what Prime Minister Boris Johnson called ‘dirty money’ by introducing the government’s Economic Crime Bill to parliament on Monday, a step brought forward in response to Russia’s invasion of Ukraine,” Reuters reports.
“The much-delayed legislation comes as many opposition lawmakers and those in the governing Conservative party have called on Johnson’s government to do more to stop the flow of Russian cash into London, dubbed by some as ‘Londongrad.'”
U.S. Assesses Putin’s Nuclear Threat
Associated Press: “For years, some U.S. officials have worried that Putin, if faced with the prospect of losing a war in Europe, might resort to the use of nonstrategic nuclear weapons, thinking it would quickly bring the conflict to an end on his terms.”
It’s Biden’s Time
Playbook: “Biden is an Atlanticist who likes to brag about how he stayed in touch with European leaders while out of office from 2017 to 2021. He is a creature of the Senate Foreign Relations Committee and the Munich Security Conference. He came up in politics immersed in the debates of the Cold War, which are now newly relevant. When he said recently that ‘the United States will defend every inch of NATO territory with the full force of American power,’ he could have been lifting the line from one of his 1988 presidential campaign speeches.”
“Biden, in this view, is uniquely suited for the new role that has been thrust upon him.”
“It was Biden and his team’s patience and close consultation with European allies that has led to the extraordinary unity now on display. Biden’s patience waiting to impose sanctions until after the invasion, even in the face of intense criticism, has been vindicated because Putin would have pointed to preemptive sanctions as a provocation and a reason to invade. Biden said that Germany would abandon the Nord Stream 2 gas pipeline if Putin attacked and he was right, because he had been engaged in quiet diplomacy on the issue all along.”
Russia Sanctions Largely Spare Energy Sector
“The West is rolling out increasingly tough sanctions on Russia but it is going out of its way to preserve the country’s biggest source of revenue: energy exports,” the Wall Street Journal reports.
Romney Rips ‘Almost Treasonous’ Republicans
Sen. Mitt Romney (R-UT) tore into his fellow Republicans who have spoken positively about Vladimir Putin.
Said Romney: “How anybody in this country which loves freedom can side with Vladimir Putin — who is an oppressor, a dictator, he kills people, he imprisons his political opponents. He’s been an adversary of America at every chance he’s had.”
He died: “It’s unthinkable to me. It’s almost treasonous, and it just makes me ill to see some of these people do that. But of course, they do it ’cause it’s shock value and it will get them more eyeballs and make a little more money for them and their network. It’s disgusting.”
Zelensky Says Next 24 Hours Crucial
“Ukrainian and Russian officials arrived at the Ukraine-Belarus border for peace talks that kicked off at 6 a.m. ET Monday, as President Volodymyr Zelensky warned on Day 5 of the invasion that the next 24 hours would be ‘crucial’ to Ukraine’s fate,” Axios reports.
Wall Street Journal: “The talks on the fifth day of Russia’s invasion of Ukraine come after Russian forces have struggled to make headway in most of the country, and failed so far to take any of Ukraine’s major cities as they faced fierce resistance.”
War In Ukraine Isn’t Going Russia’s Way
“Outgunned but determined Ukrainian troops slowed Russia’s advance and held onto the capital and other key cities — at least for now,” the AP reports.
Washington Post: “Videos posted on social media show whole columns of tanks and armored vehicles have been wiped out. Others have been stopped in their tracks by ordinary Ukrainians standing on the street to block their advance.”
“Lightly armed units propelled deep into the country without support have been surrounded and their soldiers captured or killed. Warplanes have been shot out of the skies and helicopters have been downed.”
“Logistics supply chains have failed, leaving troops stranded on roadsides to be captured because their vehicles ran out of fuel.”
Putin Finds Himself Isolated
Wall Street Journal: “Now evidence is mounting that even some allies may be moving away from him. Turkey is weighing a request from Ukraine to block Russian warships from entering the Black Sea through a strategic chokepoint. Ibrahim Kalin, a spokesman and top aide to President Recep Tayyip Erdogan, tweeted Sunday that his country would ‘continue our efforts to help the people of Ukraine and end bloodshed in this unjust and unlawful war.’”
“Azerbaijan, a former Soviet republic and ally of Russia, has sent humanitarian aid to Ukraine.”
Boebert Says Canada Needs to Be Liberated Like Ukraine
Rep. Lauren Boebert (R-CO) told Fox Nation that Canada needs to be “liberated” along with Ukraine.
Said Boebert: “We also have neighbors to the north who need freedom.”
Russia’s Ruble, Financial Markets Hammered by Sanctions
“Powerful Western sanctions rocked Russia’s financial system and triggered a spiral in the ruble, drawing the central bank into an emergency doubling of interest rates,” the Wall Street Journal reports.
“The Russian ruble fell as low as 111 to the U.S. dollar from 83 on Friday, a drop of more than 20% and, if sustained, the biggest single-day fall on record. But trading was spotty, with local onshore markets frozen by the central bank and markets outside Russia reluctant to trade the currency.”
“The Bank of Russia took a raft of measures early Monday to protect Russia’s banking system. It raised benchmark rates to 20% from 9.5% in an attempt to attract savings into banks, the largest of which were targeted by Western sanctions and will be all but cut off from international markets.”
New York Times: “The ruble cratered, the stock market froze and the public rushed to withdraw cash on Monday as Western sanctions kicked in and Russia awoke to uncertainty and fear over the rapidly spreading repercussions of President Vladimir Putin’s invasion of Ukraine.”
Extra Bonus Quote of the Day
“I personally think he’s unhinged. I worry about his acuity and balance.”
— Former Director of National Intelligence James Clapper, quoted by the New York Times, on Vladimir Putin.
Belarus Preparing to Join Russian Invasion
“Belarus is preparing to send soldiers into Ukraine in support of the Russian invasion in a deployment that could begin as soon as Monday,” the Washington Post reports.
Said a U.S. official: “It’s very clear Minsk is now an extension of the Kremlin.”
Zelensky Appeal Led to Historic Sanctions
“As the leaders of the European Union gathered for an emergency summit on Thursday night, momentum was already moving toward imposing tough new sanctions on Russia over its invasion of Ukraine,” the Washington Post reports.
“But a handful of key leaders, notably including German Chancellor Olaf Scholz, were reluctant to proceed with some of the harshest proposals.”
“Then Ukrainian President Volodymyr Zelensky dialed into the meeting via teleconference with a bracing appeal that left some of the world-weary politicians with watery eyes. In just five minutes, Zelensky — speaking from the battlefield of Kyiv — pleaded with European leaders for an honest assessment of his country’s ambition to join the European Union and for genuine help in its fight with the Russian invaders. Ukraine needed its neighbors to step up with food, ammunition, fuel, sanctions, all of it.”
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