Still outsiders

As European Union leaders met their Western Balkan counterparts in the Albanian capital yesterday, one official was moved enough to describe [View in browser]( [Bloomberg]( As European Union leaders met their Western Balkan counterparts in the Albanian capital yesterday, one official was moved enough to describe it as a sign of the “Renaissance” of the continent. Not quite. Russian President Vladimir Putin’s invasion of Ukraine has spurred Europe into greater unity. EU states and NATO have raced to the periphery with Russia, sending troops and weapons east, engaging Balkan nations with greater vigor and paying more attention to the views of those members with Soviet experience like the Baltic states. Key reading: - [Putin Using Ukraine to Put Europe on Its Knees, Albanian PM Says]( - [Why EU’s Balkan Expansion Faces Long and Winding Road: QuickTake]( - [Bosnia May Be Given EU Candidacy Status at Summit Next Week]( - [Kosovo to Submit Application for EU Membership by Year-End]( - [Rama Says UK Blames Albania for Problem It Should Fix Itself]( Part of that was on show in Tirana where the leaders of France and Germany and the European Commission sat down with those from Kosovo, Albania and Serbia. While there were apparently “concrete” measures decided, what those were remains unclear. And for strongly pro-European states like Kosovo and Albania, becoming members of the EU remains a distant prospect. Instead, Brussels is leaning heavily on symbolism. More nations have their foot in the door via EU candidacy. Bosnia-Herzegovina may get the nod at an EU summit next week. But the reality is these nations are years, if not decades, from fulfilling the membership criteria. Kosovo isn’t even recognized as a country by some EU states. France under President Emmanuel Macron has at times been suspicious about EU enlargement. The bigger countries fear the dilution of economic clout and the collective burden from poorer, weaker members with fragile fiscal structures. The EU clearly recognizes the need to protect its underbelly from Russian influence. With his military struggling in Ukraine, Putin is unlikely to push troops further into Europe. But he can still cause significant mischief, using disinformation to sow instability in a region with a history of ethnic conflict. Even so, gestures like the Albania summit will only go so far. As Kosovo’s President Vjosa Osmani noted even before the meeting began, “the EU needs to move from words to deeds.” — [Rosalind Mathieson]( Leaders of the EU and Western Balkans at a June summit in Brussels. Photographer: Valeria Mongelli/Bloomberg Click [here]( to listen to our Twitter Space conversation at 8am ET on growing ties between China and Saudi Arabia. And if you’re enjoying this newsletter, sign up [here]( for Balance of Power. Global Headlines Just in: German law-enforcement officers conducted raids across the country today and [detained]( 25 people, including a Russian, suspected of links to a far-right terrorist group. Power politics | President Xi Jinping travels to Saudi Arabia today for a regional summit with Crown Prince Mohammed bin Salman and other Arab leaders that will [showcase]( the Gulf’s deepening ties with China. As [Ben Bartenstein]( and [Sylvia Westall]( report, the series of meetings over two days will also underline just how low US-Saudi relations have sunk. - China [moved away]( definitively from its Covid Zero approach, easing a range of restrictions today that it had persisted with long after the rest of the world moved on to living with the virus. Democratic cushion | Democratic Senator Raphael Warnock’s [narrow defeat]( of former football star Herschel Walker in Georgia’s runoff puts a historically Republican state up for grabs in 2024, giving President Joe Biden an early opening in his bid for a second term. While the win gives the Democrats a crucial 51-49 majority in the US Senate and a cushion on close votes, it also means in future elections Republicans will have to spend millions in a former bastion. Russia’s seaborne coal exports returned to near the [highest levels]( on record in October after the EU loosened restrictions on providing services for transporting the commodity — like shipping, financing and insurance — making it easier to redirect volumes to Asia. Targeting drones | EU ambassadors are due to discuss a ninth [sanctions]( package against Russia today, including restrictions on Moscow’s drone sector. Russia launched 14 Iranian-made drones against Ukraine overnight following a three-week break, officials in Kyiv said, adding that air-defense troops shot down at least 11 of them. Russia and Tehran deny Iranian drones are used in Ukraine. - Poland said it’s open to hosting German surface-to-air Patriot missiles, [reversing]( its stance after it failed to persuade Berlin to locate the weapons in Ukraine instead. Separately, the US State Department approved a possible sale of battle tanks to Poland. Best of Bloomberg Opinion - [MBS Should Speak Truth to Xi on Uyghurs: Bobby Ghosh]( - [A Year in the War That’s Killing Putin’s Lies: Leonid Bershidsky]( - [Be Careful, Here Come the Predictions for 2023: John Authers]( Third strike | Pedro Castillo went from being a virtually unknown former schoolteacher to president of Peru last year. He now risks [being ousted]( after less than 18 months in office, as opposition lawmakers today make a third attempt to remove him for “permanent moral incapacity.” At least 87 of the 130 lawmakers would need to vote to eject him. Explainers you can use - [Why Making Computer Chips Has Become a New Arms Race]( - [COP15: What to Expect From the UN Biodiversity Conference]( - [What ‘Friend-Shoring’ Means for the Future of Trade]( Lifetime ban | Argentina’s powerful Vice President Cristina Fernandez de Kirchner said she won’t run for office after a court found her [guilty]( of fraud, effectively ruling out a new presidential attempt next year after she had hinted at the possibility. She rejected the ruling that imposed a six-year jail term and a lifetime ban from public office. Kirchner has immunity while still in her position. Bloomberg TV and Radio air Balance of Power with [David Westin]( on weekdays from 12 to 1pm ET, with a second hour on Bloomberg Radio from 1 to 2pm ET. You can watch and listen on Bloomberg channels and online [here](. News to Note - The EU will [proceed]( with two cases against China at the World Trade Organization today concerning patents and restrictions against Lithuania after talks to resolve the issues with its largest trading partner failed to yield results. - Xi indicated that an [anti-graft]( campaign in China that has already ensnared 4.7 million officials will continue well into his third term. - A legal battle over Hong Kong’s effort to [prosecute]( media tycoon Jimmy Lai on national security charges has made the once-unthinkable an imminent threat: moving sensitive cases to mainland Chinese courts. - Two of ex-President Donald Trump’s [companies]( were found guilty in New York of engaging in a scheme that allowed executives to evade US taxes on company-paid perks including free apartments and luxury cars for more than a decade. - Doug Emhoff, the husband of Vice President Kamala Harris and the first Jewish spouse of a US leader, plans to urge Americans to [speak out](against an “epidemic of hate” during an event today highlighting the rise of antisemitism in America. And finally ... With the UAE home to about 6% of the world’s proven oil reserves, it’s no secret that the Al Nahyans are rich. But investments in everything from Rihanna’s lingerie line to Elon Musk’s SpaceX have propelled the wealth of the Abu Dhabi royal family to new heights. [Read]( how personal holdings including an investment firm whose value surged almost 28,000% over the past five years mean their discernible wealth exceeds other Gulf clans, including the Saudi royal family. Follow Us 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. If a friend forwarded you this message, [sign up here]( to get it in your inbox. [Unsubscribe]( [Bloomberg.com]( [Contact Us]( Bloomberg L.P. 731 Lexington Avenue, New York, NY 10022 [Ads Powered By Liveintent]( [Ad Choices](