Ukraine Latest: Zelenskiy Says Nuclear Plant Still ‘Very Risky’

(Bloomberg) --

Ukrainian President Volodymyr Zelenskiy said the situation at the Zaporizhzhia nuclear plant “remains very risky, dangerous” even after two power units were reconnected to the country’s energy grid after an outage.

The plant is working “despite provocations by occupying Russian forces,” state-owned operator Energoatom said. Zelenskiy said in a video address that the International Atomic Energy Agency should be allowed to arrive “soonest” to help prevent further incidents.

Several strikes were reported near the plant overnight. Russia’s Tass news agency said they came from Ukrainian forces, while Ukraine’s nuclear inspection agency said they were Russian attacks. The European Union’s foreign policy chief, Josep Borrell, also expressed concern about the situation. 

(See RSAN on the Bloomberg Terminal for the Russian Sanctions Dashboard.)

Key Developments

• Zelenskiy Reinforces Nuclear Warning After Disruption 
• Britain Hasn’t Quite Managed to Kick Its Russian Diesel Habit
• Price of Power Spirals Out of Control in Europe’s Key Markets
• European Gas Posts Sixth Weekly Gain as Supply Woes Intensify
• Why Ukraine Debt Relief Isn’t Matching Funding Needs: QuickTake
• A Corner of Europe Leans to Live With Power Blackouts Again

On the Ground

Russian forces hit several private houses, warehouses and power lines in eastern Ukraine, according to a statement by Ukraine’s General Staff. Russia’s naval group continues reconnaissance and a blockade of civilian shipping in the northwestern part of the Black Sea, Ukraine’s Defense Ministry said. Seven Russian ammunition depots in southern Ukraine were destroyed this week, said Natalia Humenyuk, a Ukrainian military spokeswoman.

(All times CET)

EU Remains Split Over Russian Tourist Visas (2 p.m.)

France and Germany said that the EU should continue to issue visas to Russians not affiliated with the government -- particularly students, artists, scholars and professionals -- even as countries neighboring Russia, including the Baltic nations and Finland, want the bloc to ban Russian tourists.

“While understanding the concerns of some member states in this context, we should not underestimate the transformative power of experiencing life in democratic systems at first-hand, especially for future generations,” France and Germany wrote in a document seen by Bloomberg ahead of next week’s gathering of EU foreign ministers in Prague.

One compromise plan that ministers are expected to discuss would mean that Russians traveling to the EU pay more and withstand additional bureaucracy to obtain short-term visas.

Read more: Russians Face European Travel Hurdles as EU Mulls Restrictions

Ecuador Diesel Deal Shows Russia Is Finding Alternate Buyers (12:00 p.m.)

Trafigura Group is helping Russian diesel make its way to Latin America as a ban to sell such barrels in Europe looms. 

The commodities trader chartered the vessel Marlin Aventurine to deliver 262,000 barrels of diesel to Ecuador’s state oil company Petroecuador, according to people with knowledge of the situation.

Read more: Trafigura Sells Russian Fuel to Ecuador as EU Ban Approaches

Ukraine Aims to Export 3 Million Tons of Grain by Sea a Month (7 a.m.)

Ukraine exported 1 million tons of grain by sea after last month’s deal brokered by the UN and Turkey, Zelenskiy said in a video address to the nation. Some 44 ships were sent to 15 countries and Ukraine received 70 more requests for ships to be loaded, he said. The country aims to export 3 million tons of grains a month by sea, he said.

IMF Exploring More Options to Help Ukraine, Official Says (6 a.m.)

The International Monetary Fund is looking at ways to help Ukraine beyond the round of emergency financing it provided at the beginning of the war, Gita Gopinath, the bank’s first deputy director, told Bloomberg Television.

“We are looking at other options, many other things that we’ll need to do to help Ukraine -- also to make sure that their macro policies are able to keep the economy on track as best possible, prevent hyperinflation,” Gopinath said. “All of these are big concerns we’re trying to work with the authorities to help address.”

Russia Blocks Nuclear Non-Proliferation Treaty Deal (5 a.m.)

Moscow late Friday blocked agreement on the final draft of a review of the UN treaty considered the cornerstone of nuclear disarmament over criticism of its actions in Ukraine, the Associated Press reported.

The four-week talks over updates to the 50-year-old Nuclear Nonproliferation Treaty, already delayed two years by the Covid-19 pandemic, were stymied over wording referencing Russia’s occupation of the Zaporizhzhia nuclear power facility in Ukraine, Europe’s largest.

“We do not have a consensus document because of Russia,” US Undersecretary of State for Arms Control Bonnie Jenkins said on Twitter. 

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