Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
A sample of the MSM following official bull$hit from unofficial sources inside US government ...

U.S. confirms it held talks with Kremlin over nuclear threat; Ukraine hit by emergency power shutdowns | CNBC - Nov. 8, 2022 |

In other news, White House national security advisor Jake Sullivan confirmed reports that the U.S. had talked to the Kremlin recently in a bid to lower the rhetoric around the possible use of nuclear weapons.

Speaking at an event at the Economic Club of New York on Monday, Sullivan did not say he had been engaged in direct talks but noted he had said repeatedly that "we have channels to communicate with the Russian Federation at senior levels," Reuters reported.


As I was quoting from article, a whole chapter on ruble recovery was deleted in an update. I knew it was sourced by Reuters (behind pay-wall) so I needed to do a bit of search ...

'Sapere aude'

by Oui (Oui) on Tue Nov 8th, 2022 at 05:28:22 PM EST
Russian rouble hits over two-week high vs dollar

The Russian rouble rose to a two-week high past 61 per dollar on Tuesday, clinging on to large gains made in the previous session, thanks in part to still-high oil prices.

By 1101 GMT, the rouble was 0.2% stronger against the dollar at 60.87, earlier clipping its strongest point since Oct. 21 of 60.8275.

It had gained 0.3% to trade at 60.77 versus the euro and had firmed 0.7% against the yuan to 8.36 .

"We expect the rouble to weaken in the course of trading," said Banki.ru Chief Analyst Bogdan Zvarich. "A correction on the energy market and a lower supply of foreign currency from exporters could put pressure on the rouble."

The rouble is the world's best-performing currency this year, supported by capital controls and an initial collapse in imports as a result of Western sanctions on Russia over its actions in Ukraine, and scores of foreign companies pausing operations in the country.

Ukrainian President Volodymyr Zelenskiy said he was open to talks with Russia, days after a Washington Post report that the United States wanted Ukraine to signal its willingness for negotiations, concerned that by appearing too intransigent, Kyiv might harm its case for international support.

"Despite the denials, which are not surprising, that should provide some support to both Russian equities and the rouble over the near term," said Alfa Bank in a note.

Brent crude oil, a global benchmark for Russia's main export, was down 1% at $96.9 a barrel, though not far from the more than two-month high reached in the previous session.

'Sapere aude'
by Oui (Oui) on Tue Nov 8th, 2022 at 05:31:19 PM EST
[ Parent ]
FX trading jargon is perverse.
The Russian rouble rose to a two-week high past 61 per dollar on Tuesday, clinging on to large gains made in the previous session, thanks in part to still-high oil prices.
RUB FX val is less than,  it was at the start of the trading day.

A "strong" RUB would approximate parity value with USD, EUR; but that trend is exactly what the CBR has wanted to avoid since March 2022.

RUB strongest "gain" in value to USD was Feb 2013, USD:RUB, 1:30.11.

Why? 1. RU plans to exit USD reserve trading; 2. RUB par val to USD (RUB≥USD, 1≥1) cancels discounted cash value of RU goods sold per unit to emerging market trade "partners" with whom RU banks maintain bi-lateral transaction settlement agreements.

by Cat on Tue Nov 8th, 2022 at 10:47:59 PM EST
[ Parent ]
Zelensky Will Talk After Russia's Defeat In Crimea

Estados Unidos pide en privado a Ucrania que se abra a negociar con Rusia, según 'The Washington Post'

Las autoridades estadounidenses piden a Kiev un gesto de cara a los países que están apoyando a su Gobierno para poder hacer frente a la invasión y sus consecuencias

... Zelensky acknowledges that if Putin leaves the Crimean peninsula, which Russia has occupied since 2014, and the other Ukrainian regions where his troops are now, he would be willing to sit down with him, as he stated in an interview with EL PAÍS on Wednesday.

Nothing suggests that this will happen in the short term, but, as the Ukrainian president's own environment points out, it is a change from the position shown in recent weeks by Zelenski, who went so far as to say that he would never sit down with the Russian leader. Moreover, he passed a decree in October declaring it "impossible" to engage in talks with Putin, although he leaves the door open to talks with Russia.

"We are ready for peace, a just peace," the president said in a speech on Friday, but clarifying that it must be achieved within the framework of the UN and the territorial integrity of his country. He also demanded that those responsible be punished and that Russia compensate Ukraine for all the damage caused. Shortly before uttering these words, Zelensky had received Jake Sullivan, White House National Security Adviser.

'Sapere aude'
by Oui (Oui) on Tue Nov 8th, 2022 at 05:32:33 PM EST
[ Parent ]


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