Getting Putin and Biden together

[Bloomberg]( Follow Us [Get the newsletter]( Most of the chatter at this week’s Group of Seven foreign ministers meeting in London has been about China, with a U.S. [push]( for a new cooperation mechanism for dealing with Beijing’s growing influence. But that doesn’t mean Russia is off the agenda. If anything the discussions around Moscow are picking up steam ahead of a potential summit between President Joe Biden and President Vladimir Putin somewhere in Europe. Biden told reporters at the White House yesterday a June [meeting]( is “my hope and expectation,” adding “we’re working on it.” That’s even as Secretary of State Antony Blinken used his G-7 sideline chats to pressure Berlin again to halt the Nord Stream II gas pipeline project from Russia into Germany — and before he travels on to Ukraine amid [tensions]( over Moscow’s recent buildup of troops on the border. The U.S., like others, is closely watching the [health]( of imprisoned opposition leader Alexey Navalny, while Washington sanctioned Russian entities last month for hacking. As with China, the Biden administration is operating on a double track: work [against]( Russia on issues of contention, work with it where merited. That includes on Iran, where the two have a shared interest in resurrecting the 2015 nuclear deal. Blinken is expected at an Arctic Council gathering two weeks from now in Iceland, as is his Russian counterpart. That could enable them to finalize the details to allow Biden and Putin to meet. A lot could happen in the meantime, though. A summit is still far from guaranteed. — [Rosalind Mathieson]( Peace activists wearing masks of Putin and Biden pose with mock nuclear missiles in front of the U.S. embassy in Berlin on Jan. 29. Photographer: John Macdougall/AFP/Getty Images Click [here]( to follow Bloomberg Politics on Twitter, and tell us how we’re doing or what we’re missing at balancepower@bloomberg.net. Global Headlines Exposure alert | India’s Foreign Minister Subrahmanyam Jaishankar said he’d self-isolate after being made aware of potential Covid-19 [exposure]( following his attendance at sideline meetings as a guest of the G-7. The possible spread of the virus could impact the event being held in person for the first time in two years. - Some research models project that India’s virus death toll could more than [double]( from current levels and cross the 1 million mark by the end of July. - Seychelles, the island nation that has [fully vaccinated]( more of its population against Covid-19 than any other country, has reintroduced curbs for two weeks as infections surge. Blinken at a press conference with Jaishankar after a bilateral meeting on Monday. Photographer: Ben Stansall/AFP/Getty Images Vaccine diplomacy | Biden is pivoting to the [role]( of vaccine statesman as increasing supplies allow the U.S. to start exporting coronavirus shots. He vowed yesterday that America will be an “arsenal for fighting Covid-19” globally, including by giving away 60 million doses of AstraZeneca’s version. - Read [why]( so much is riding on today’s decision on whether ex-President Donald Trump can rejoin Facebook. The world faced its worst [hunger]( problem in at least five years in 2020 on the back of the coronavirus crisis, with the outlook remaining grim this year. Chip drive | The European Union will unveil details today of its ambitious [proposal]( to double production of semiconductors by 2030. The plan involves creating an alliance of leading chip companies and research centers as well as more than a dozen governments, Industry Commissioner Thierry Breton said in an interview. - The EU’s executive arm will also propose [measures]( today to block deals aided by unfair subsidies or slap companies with fines, a move that could hinder Chinese state-backed firms. Corruption showdown | South Africa’s ruling party is [moving]( to force members charged with corruption or other serious crimes to step aside. Those in the firing line include African National Congress Secretary-General Ace Magashule, who’s being prosecuted for graft and is a rival of President Cyril Ramaphosa. Strongarm tactics | Colombia faces a [wave]( of criticism from foreign governments and human rights organizations over the police’s use of force during demonstrations against plans to raise taxes. At least 20 people have died in clashes that prompted the resignation of Alberto Carrasquilla as finance minister. - New Finance Minister Jose Manuel Restrepo says he will [seek]( to shore up the budget without resorting to the types of tax hikes that stirred the unrest. Demonstrators clash with riot police in Cali, Colombia on April 29. Photographer: Paola Mafla/AFP/Getty Images What to Watch - Israeli Prime Minister Benjamin Netanyahu [failed]( to form a coalition by yesterday’s deadline, giving rivals an opportunity to join forces to oust him or send the country into a fifth election since April 2019. - A former Brazilian health minister set a harsh [tone]( at the start of a Senate probe into President Jair Bolsonaro’s handling of one of the world’s worst coronavirus outbreaks. - El Salvador President Nayib Bukele [defended]( his party’s removal of the attorney general and five top judges in the face of widespread criticism. - France’s maritime minister suggested her government could cut off [electricity]( to the Channel island of Jersey, amid a row with the U.K. over post-Brexit fishing rights. And finally ... Since the end of the Korean War, Baengnyeong has been a key location for U.S. allies in Seoul to spy on North Korea. But South Korea was [spooked]( when China sent a warship close to the island in December. While Baengnyeong’s roughly 5,000 residents have become wary of an influx of Chinese fishing boats, the increased activity shows China is worried in turn about a scenario in which the U.S. imposes a blockade in the Yellow Sea, not far from Beijing. A resident walks past fortification spikes along the coast on Baengnyeong Island. Photographer: SeongJoon Cho/Bloomberg   Like Balance of Power? [Get unlimited access to Bloomberg.com](, where you'll find trusted, data-based journalism in 120 countries around the world and expert analysis from exclusive daily newsletters.  You received this message because you are subscribed to Bloomberg's Balance of Power newsletter. [Unsubscribe]( | [Bloomberg.com]( | [Contact Us]( Bloomberg L.P. 731 Lexington, New York, NY, 10022