Wednesday, March 19, 2025

Putin goes slow on Ukraine

Call shows little pressure on Putin from Trump to make Ukraine concessions
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Perhaps the most striking element of the phone call between Donald Trump and Vladimir Putin was how differently the two presidents interpreted their conversation about the war in Ukraine.

The Kremlin noted a "frank exchange of views," which is usually diplomatic speak for an argument, as Putin turned down Trump's call for a 30-day ceasefire. Instead, he offered only to stop attacks on energy infrastructure.

WATCH: Bloomberg's Tyler Kendall and Daniel Flatley report on the call.

The White House talked up that concession as the beginning of moves toward a "full ceasefire and permanent peace" that would continue "immediately" with further talks in the Middle East.

Yet there was no sign Putin agreed with this outlook. Instead, he insisted on conditions including a halt to foreign military supplies and intelligence-sharing with Ukraine that would make it easier for Russia to resume the fighting if peace talks broke down.

That demand threw the initiative back to Trump to secure the truce he wants. Unless the US moves to pressure Europe to cut off arms deliveries, Putin could simply shrug that his demands aren't being met and carry on the war while blaming Ukraine.

The Kremlin's interpretation also made clear it regards efforts to resolve the conflict as a subject for bilateral talks with the US, relegating Ukraine and its European allies to bystanders.

Meanwhile, both Washington and Moscow talked up prospects for boosting economic and energy relations, while working together on major geopolitical issues in the Middle East and elsewhere.

It all left the impression of two leaders eager to set aside the war and get down to business together. That's likely to ring alarm bells in Europe and Ukraine about Trump's willingness to pressure Putin into accepting a just peace.

The US has already accepted many of Russia's demands. Yesterday's call showed Putin remains under little pressure from Trump to make any concessions of his own. — Tony Halpin

A thermal-power plant in Ukraine damaged by a Russian strike. Photographer: Olga Ivashchenko/Bloomberg

Global Must Reads

Israeli Prime Minister Benjamin Netanyahu said airstrikes on Gaza that ended its ceasefire with Hamas were "only the beginning" and vowed to maintain pressure until the Iran-backed militant group releases the remaining hostages taken during the October 2023 attacks. Military operations that killed hundreds will continue even if negotiations restart, Netanyahu said, dealing a blow to hopes the near two-month truce would be extended.

WATCH: Bloomberg's Dan Williams reports on the end of the ceasefire between Hamas and Israel.

Germany's military buildup should be seen as a "first great step" toward the creation of a broad European defense community, according to conservative Chancellor-in-waiting Friedrich Merz. He spoke in the lower house of parliament yesterday before lawmakers backed a landmark spending package that will unlock hundreds of billions of euros in debt financing for defense and infrastructure, paving the way for final approval in the upper house on Friday.

Police detained Ekrem İmamoğlu, Turkish President Recep Tayyip Erdoğan's most prominent rival, in a widening crackdown that's rattling markets. Authorities yesterday revoked the university diploma of the Istanbul mayor in a move that could bar him from running in the next presidential election, just days before he was set to be named as the candidate for the main opposition group.

Ekrem İmamoğlu. Photographer: Mehmet Masum Süer/Getty Images

The presidents of Democratic Republic of Congo and Rwanda, which is backing a rebel siege in the eastern flank of its neighbor, pledged to ease tensions following a surprise meeting in Qatar. The sitdown between Paul Kagame and his Congolese counterpart Felix Tshisekedi came after the European Union joined the US in sanctioning Rwandan officials and Kigali-backed M23 rebels pulled out of separate talks on ending the crisis.

The UK government is targeting savings worth billions of pounds a year by slashing welfare spending, unveiling controversial reforms which have provoked criticism and divided Prime Minister Keir Starmer's Labour Party. The move is the latest example of Starmer taking a position apparently at odds with Labour traditions, following decisions to slash the overseas development budget and cut winter fuel payments for most pensioners.

Taiwan identified 2027 as the potential year for a Chinese invasion for the first time in its annual military drills, as concerns grow on the self-ruled island about tensions with Beijing.

Anti-landing barriers on a beach in Kinmen, Taiwan, in May. Photographer: I-Hwa Cheng/Bloomberg

Trump expressed caution over closer ties between China and Russia, outlining plans to improve relations with two countries that have united in opposing the US on the world stage.

US Chief Justice John Roberts said the impeachment of federal judges is "not an appropriate response" to disagreement with their rulings, issuing an extraordinary statement hours after Trump called for removal of a judge in Washington.

Trump hosted Sheikh Tahnoon Bin Zayed Al Nahyan, the UAE's national-security adviser and brother of its president, for dinner at the White House yesterday as the Gulf nation pushes to ease access to US technology by investing in the country.

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Chart of the Day

Most European businesses expect Trump's sweeping push for deregulation to divert investments away from a lagging EU, a survey showed. Lobby group BusinessEurope found that 85.7% of their member federations see the US administration's agenda having negative effects on investments in Europe, with none viewing the moves as boding well for the continent.

And Finally

Peru is facing its deadliest start to the year on record, with the government imposing a state of emergency throughout the capital amid public outrage over the killing of singer Paul Flores at the weekend. The Andean nation recorded 368 homicides in the first two months of 2025, according to official data, more than three times higher than the number of murders registered during the same period in 2017, the oldest available figures. 

Paul Flores, a singer with cumbia group Armonia 10, was killed by gunmen Sunday after the band played a concert in the San Juan de Lurigancho district of Lima. Photographer: Cesar Grados/GDA/AP Photo

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