Ukraine’s year of resistance

Ukraine’s year of resistance [View in browser]( [Bloomberg]( The world marked a year of Ukraine’s [resistance]( to Russia’s full-scale invasion that has upended millions of lives in the gravest [challenge]( to European security since the end of World War II. As Ukraine’s allies [underlined]( their support for its [defense](, Russian President Vladimir Putin vowed to continue the war in a speech in Moscow in which he also [suspended]( involvement in a key nuclear pact with the US. The US and the European Union [imposed]( fresh [sanctions]( on Russia as Washington renewed [warnings]( to China not [to aid]( Putin’s war. Beijing unveiled a plan to stop the fighting that drew scorn in the US and Europe. Dig into these and other stories from the past week in this edition of Weekend Reads. Ukrainian artillery fire at Russian positions near Bakhmut. Photographer: Libkos/AP China Cease-Fire Proposal for Ukraine Falls Flat With US, Allies China called for a [cease-fire]( between Russia and Ukraine in a [12-point]( plan for ending the war that appeared to offer some reprieve to Moscow but was quickly dismissed by Kyiv’s allies as the conflict enters its second year. - Brazilian President Luiz Inácio Lula da Silva is [intensifying]( a campaign to mediate an end to the war as he seeks to reinsert Brazil in the global political stage. Biden Meets Zelenskiy on Surprise Trip Nearly Year Into War US President Joe Biden declared “unwavering support” for Ukraine at talks in Kyiv with President Volodymyr Zelenskiy in a dramatic show of [solidarity]( ahead of the one-year mark of Russia’s invasion. - Read how Biden’s visit was carried out under cloak-and-dagger [secrecy]( after months of meticulous planning by a close circle of advisers. Biden walks with Zelenskiy at St. Michael’s Golden-Domed Cathedral in Kyiv on Feb. 20. Photographer: Evan Vucci/AP Biden’s $300 Billion Sanctions Shock Is Failing to Stop Russia While the economic [punishment]( imposed on Russia by the US and its allies has inflicted damage, the sanctions haven’t induced Putin to stop the war — raising wider questions about a tool that’s become increasingly central to US foreign policy, as [Daniel Flatley](reports. War in Ukraine Will End When Russia Knows It’s Lost, Kallas Says “When the army realizes that they are sent to the grinder because the West is behind Ukraine and they can’t really win, and the Russian population understands that they can’t really win, then this war ends,” Estonian Prime Minister Kaja Kallas told [Ott Tammik]( and [Michael Winfrey]( in an [interview](. Kallas in Tallinn on Feb. 23. Photographer: Peter Kollanyi/Bloomberg More Ukrainians Are Settling Abroad as War Grinds On Ukraine already had one of the fastest shrinking populations in the world before as many as 8 million [fled abroad]( to escape Russia’s invasion. [Patrick Donahue]( and [Piotr Skolimowski]( report that the war has tipped the country into a spiral of demographic decline that is likely to harm its future growth prospects. China Urges The World to Stop Saying Taiwan Is Next Chinese Foreign Minister Qin Gang said countries should “stop touting ‘Ukraine today, Taiwan tomorrow,’” as Beijing [stepped up]( efforts to distance itself from Russia’s war effort. Soaring prices at the vegetable [market]( are threatening nutrition and forcing governments from Morocco to the Philippines to protect supplies. Rishi Sunak Faces Brexit Hell in Showdown With UK Hardliners Rishi Sunak’s allies have told Conservative rebels that if they don’t back his [imminent]( deal on Brexit, there’s no prospect of a fix for a cross-channel immigration crisis that’s seen as crucial to the party’s electoral fortunes. As [Alex Wickham]( and [Ellen Milligan]( report, it’s a pivotal moment for the UK prime minister. Africa’s Biggest Economy Crumbles as Voters Pick New President Voters in Nigeria, Africa’s most populous nation, head to the polls on Saturday to choose the next president. [Neil Munshi](, [William Clowes]( and [Emele Onu]( report that the winner will [inherit]( an economy and country on its knees. - Read how Nigeria faces the risk of a [generation]( of stunted adults as climate change and conflict have resulted in the second-largest number of malnourished children globally after India. ​​​​​Gulf Powers Play Hardball Over Sending Billions to Rescue Egypt Gulf countries are waiting for more certainty on Egypt’s currency and proof it’s making deep economic reforms before [unleashing]( billions of dollars of crucial investment. [Mirette Magdy]( and [Sylvia Westall]( report. Best of Bloomberg Opinion - [How Happy Can Hong Kong Be This Year, Really?: Andy Mukherjee]( - [Can Any Amount of Money Turn the Fertility Tide?: Gearoid Reidy]( - [Putin Has Decided to Normalize His War: Leonid Bershidsky]( - [The Geopolitical Multiverse Didn't Have a Chance: Andreas Kluth]( - [Wealthy People Can’t Pay for All Biden Wants: Allison Schrager]( Pakistan Faces The Abyss. Debate Rages on Who Should Pay Pakistan is [teetering]( on a precipice, with fiscal, humanitarian and political crises bringing it ever closer to the brink. As foreign reserves plummet, covering only three weeks of imports, [Kai Schultz]( and [Faseeh Mangi]( report the country is facing its worst economic meltdown in decades. Residents gather to buy government-priced wheat flour in Hyderabad on Jan. 9. Photographer: Husnain Ali/AFP/Getty Images Erdogan Clings to His Ideal Election Date Despite Earthquakes [Selcan Hacaoglu]( and [Firat Kozok]( report on Turkish President Recep Tayyip Erdogan’s plans to step up rebuilding efforts following two deadly [earthquakes]( and stick to a May election timetable, as he seeks to shore up popularity ahead of a potential hit to the economy. Iran’s Uranium Enrichment Hits a New High, Testing Diplomacy International atomic monitors in Iran have detected uranium [enriched]( to levels just below nuclear weapons-grade, risking an escalation over Tehran’s expanding program, [Jonathan Tirone]( reports. US, South Korea Plan for Potential Nuclear Strike by North Korea The US and South Korea held discussions over ways they would [respond]( to possible nuclear attacks by North Korea, which has been steadily building up its capability to deliver a credible strike against them, as [Jon Herskovitz]( reports. Explainers of the Week - [How Europe Ditched Russian Fossil Fuels With Spectacular Speed]( - ‘[Lost Decade’ Looms as US-China Face Off Over Debt Relief]( - [Six Charts Show the Challenges Facing Nigeria’s Next Government]( - [How Kim Jong Un Is Building a Nuclear North Korea]( - [Can’t Find Workers? Blame Retirees. Or Immigration. Or Covid…]( Venezuela Lawmaker Mocked by Chavez Seeks to Oust His Successor Conservative [firebrand]( María Corina Machado is seeking to take Venezuela’s political opposition in a radically different tack as she works to end two decades of socialist rule and challenge President Nicolás Maduro in next year’s elections, [Patricia Laya]( and [Andreina Itriago Acosta]( report. Machado in Caracas on Jan. 31. Photographer: Andrea Hernandez Briceno/Bloomberg Zimbabwe Opposition Eyes Election Victory Despite Rigging Fears The leader of Zimbabwe’s main opposition party said he’s [confident]( of an emphatic win in upcoming elections despite concerns of a possible repetition of the violence and irregularities that have plagued every vote since 2000.[Loni Prinsloo]( and [Antony Sguazzin]( report. And finally … After three years of Covid hibernation, Hong Kong’s champagne-soaked art and luxury shopping scene is [roaring back]( to life. [Lulu Yilun Chen]( and [Krystal Chia]( report that, with the city’s edition of Art Basel just a few weeks away, global auction houses such as Sotheby’s and Christie’s are bringing back in-person VIP events. They’re also gearing up for the return of wealthy mainland Chinese patrons, who mostly stayed away during the global health crisis due to travel restrictions. Handbags at the Sotheby’s Gallery in January. Source: Sotheby’s 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 Bloomberg Politics 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](