Putin’s endgame in Ukraine becomes clearer: Weekend Reads

A Russian general outlined what he said was Vladimir Putin’s goal for his invasion of Ukraine after his failure to capture the capital, Kyiv [View in browser]( [Bloomberg]( Follow Us [Get the newsletter]( A Russian general outlined what he said was Vladimir Putin’s [goal]( for his invasion of Ukraine after his failure to capture the capital, Kyiv: build on the 2014 annexation of Crimea by securing full control of the south and the eastern Donbas region, reaching as far as neighboring Moldova. While the U.S. and its allies dispatched more military hardware to Ukraine, U.K. Prime Minister Boris Johnson said it’s a “realistic possibility” Moscow will win the war. German Chancellor Olaf Scholz said he aimed to avoid an open [conflict]( with Russia that could lead to nuclear confrontation. United Nations Secretary-General Antonio Guterres plans to meet both Putin and Ukrainian President Volodymyr Zelenskiy next week as the world body seeks urgent steps toward peace. In France, President Emmanuel Macron appeared on the [cusp]( of winning a second term tomorrow after a surprisingly tight race against far-right candidate Marine Le Pen. The world’s biggest technology companies could face billions of dollars in fines for [breaches]( of new European Union legislation after lawmakers reached an agreement on its scope early today.  Delve into these and other top political stories in this edition of Weekend Reads. — [Michael Winfrey]( A woman stands at a local market after recent shelling in the outskirts of Kharkiv in northeastern Ukraine. Photographer: Sergey Bobok/AFP/Getty Images Sign up [here]( for the Special Daily Brief: Russia’s Invasion of Ukraine and click [here]( for this week’s most compelling political images. Ukrainian Troops Risk Being Encircled in New Russian Offensive Russia launched a new [phase]( of the war, advancing along the top of the eastern front in the Donbas region. As [Marc Champion]( reports, they’re threatening to encircle an area that holds as much as 40% of Ukrainian troop in the region. Kremlin Insiders Alarmed Over Growing Toll of Putin’s War in Ukraine Almost eight weeks after Putin sent troops into Ukraine, with military losses mounting and Russia facing unprecedented international isolation, senior Kremlin insiders are questioning his decision to go to war. As this [Big Take]( explains, they don’t see a chance that Putin will change course. Putin Calls Off Storming of Mariupol as Ukraine Troops Trapped Putin declared that Russia had seized Mariupol even as his defense minister said more than 2,000 opposing troops remain holed up in the Azovstal steelworks in the southern port city. While he also called off the [storming]( of the complex, Ukraine said Russian forces had [resumed]( airstrikes on it. - The [propaganda]( war over Mariupol’s capture has only begun. People fleeing Mariupol meet with relatives and friends in Zaporizhzhia on Thursday. Photographer: Ed Jones/AFP/Getty Images Abramovich at Risk of U.S. Sanctions as Peace Talks Sputter Out Senior U.S. officials are renewing a [push]( for sanctions against Russian billionaire Roman Abramovich after his recent trip to Kyiv to revive peace talks failed to achieve a breakthrough. [Stephanie Baker](, [Daryna Krasnolutska]( and [Nick Wadhams]( explain why pressure is growing to impose penalties on the tycoon. Russia Faces ‘Reverse Industrialization’ in Sanction Squeeze A deep and prolonged economic contraction, higher inflation and reduced living standards are in [store]( for Russia as sanctions imposed by the U.S. and its allies sap it of vital products and technology, according to economists at the central bank. Macron’s Biggest Election Risk? The Surging Cost of Living Anger]( over price rises that blindsided Macron early in his five-year term is simmering again, turning Sunday’s face-off with Le Pen into a much closer contest. Inflation hasn’t been this high since the 1980s, [William Horobin](and [Andre Tartar]( report. Throughout the campaign, the 44-year-old French leader called on his supporters to [convince]( as many people as possible to rally round him, an attempt to activate the “Republican front” — a term for cross-party opposition that has prevented the far-right from taking power. Under Pressure, Cracks Appear in Le Pen’s New Moderate Image Le Pen has been trying to publicly disentangle her party from its racist roots for years. But as [Samy Adghirni]( writes, her new, softer image started to [crumble]( near the end of a lengthy debate with Macron on Wednesday. Boris Johnson Keeps Digging Deeper Into His Lockdown Party Hole The U.K. prime minister aimed to end months of political turmoil when he apologized to the House of Commons this week for breaking pandemic lockdown rules that he brought into force. Yet, as [Emily Ashton]( writes, far from drawing a line under [“partygate,”]( he now faces a third inquiry into the matter — this time on whether he lied to Parliament. U.S. to Appeal Mask Travel Ruling, Setting Up Court Fight The U.S. Justice Department said it would [appeal]( a Florida judge’s ruling that threw out a mask requirement for plane and air travel. As [John Harney]( and [Erik Larson]( note, it may set up a court battle that could extend past the midterm elections in November. Best of Bloomberg Opinion - [Putin’s Nuclear Threat Makes Armageddon Thinkable: Tyler Cowen]( - [Mariupol Will Be Ukraine’s Thermopylae: Andreas Kluth]( - [The Second Wave of Russia’s Oil Shock Is Starting: Javier Blas]( - [Is Wimbledon’s Ban on Russians a Double Fault?: Therese Raphael]( - [Pixar’s ‘Wall-E’ Was Eerily Prescient About Future: Alex Webb]( Hunger and Blackouts Are Just the Start of an Emerging Economy Crisis A barrage of [shocks]( is building on developing economies that’s unlike anything they’ve seen since the 1990s, when crises crushed output and toppled governments. Rising interest rates, soaring costs and the war in Ukraine are threatening to upset the world’s post-pandemic recovery. Elderly Shanghai Woman’s Quarantine Ordeal Sparks Outrage The treatment of a 92-year-old Shanghai woman who was sent to quarantine late at night has caused anger in China, underscoring the frustration that many are feeling under the nation’s strict Covid Zero rules. Read more about the incident [here](. - Taiwan must now [choose]( between living with the virus like New Zealand or sticking with elimination strategies like in Hong Kong. People wait in line at a vaccination facility at Taipei Main Station on April 16. Photographer: Lam Yik Fei/Bloomberg It’s Almost Impossible to Find Out Which Covid Variant You Got After catching Covid-19, Bloomberg’s [Kristen V Brown]( was curious about which variant of the virus she had. As she found out, accessing this information in the U.S. is next to [impossible](, and most people who tested positive will never find out which strain they caught. Explainers you can use - Why Mariupol and the Donbas Region Matter to PutinÂ]( - [Why the Solomon Islands’ China Pact Has U.S. Riled]( - [Will Europe’s ‘Gold Standard’ Clean Up Social Media?]( - [How Another Marcos Could Win Power in the Philippines]( - [Why Croatia Sees Joining the Euro as Path to Security]( Alzheimer’s Trials Exclude Black Patients at ‘Astonishing’ Rate Black people are about twice as likely to develop Alzheimer’s disease as White people, but the pharmaceutical industry has mostly [left them]( out of drug trials. As [Robert Langreth]( and [Madeline Campbell]( discovered, only 2% of patients in trials reported in the past decade were Black. And finally … Florida’s Republican-controlled legislature passed a measure to strip Walt Disney Co. of its self-governance privileges. [Nathan Crooks]( looks into how the law could have major [consequences]( for Disney, which has been in a heated dispute with Governor Ron DeSantis after the company criticized a law he backed that limits school instruction about gender identity and sexual orientation. Actors dressed as Mickey Mouse and Donald Duck in 2009. Photographer: Matt Stroshane/Bloomberg Like getting this newsletter? [Subscribe to Bloomberg.com]( for unlimited access to trusted, data-driven journalism and subscriber-only insights. You received this message because you are subscribed to Bloomberg's Balance of Power newsletter. [Unsubscribe]( | [Bloomberg.com]( | [Contact Us]( [Ads Powered By Liveintent]( | [Ad Choices]( Bloomberg L.P. 731 Lexington, New York, NY, 10022