Ukraine War

• Pres. Zelensky said Russian forces hijacked a humanitarian aid convoy near Kharkiv, and it’s been widely reported that Russian shelling killed a 96-year-old Holocaust survivor in Kharkiv (which makes the Russian operation look more like “re-Nazification” than “de-Nazification”).
• In addition, a Russian airstrike flattened a shopping mall in Kyiv, killing eight. It was believed to be the most powerful explosion yet in Kyiv and—as Quartz notes—”reflects Russia’s growing use of deadlier methods.”

Meanwhile in Russia

• Credible reports suggest Pres. Putin is blaming the FSB spies that scouted out Ukraine before the war for failing to foresee the level of resistance Russian forces would face and instead reporting that Ukrainians would welcome Russian troops as liberators.
• Putin has reportedly placed the head of the FSB’s Ukraine team and several of its spies under house arrest as the FSB trades barbs with the Defense Ministry over who’s to blame for the military’s unexpected struggles in Ukraine.
• In an entirely inconsequential decision, a Russian court declared Meta—the parent company of Facebook, Instagram, and WhatsApp—an extremist organization for sharing updates about the war in Ukraine that conflicted with the official narrative. The ruling doesn’t affect WhatsApp’s ability to operate in Russia, and Facebook and Instagram are already banned for their “extremism.”
• Russia made a cautious attempt to reopen its financial markets after several weeks of keeping them closed to try to prevent investors from pulling their money out of the country as the ruble and Russian equities were in free fall. The reopening will happen in phases: for now, the only securities that can be traded are government-issued bonds—the yields on which rose by a record ~20% as soon as trading opened.

International Response

• Ahead of NATO, G7, and European Council meetings later this week, Pres. Biden held a call with the leaders of the UK, France, Germany, and Italy to align on an approach to the meetings.
• NATO may consider a Polish proposal to create an international peacekeeping force for Ukraine. It would be the first time a peacekeeping mission was deployed during a war instead of after fighting stops, and it’s not clear how exactly it would work. U.S. Ambassador to the UN Linda Thomas-Greenfield reiterated that the U.S. won’t send troops into Ukraine as part of this peacekeeping force…”but we will support our NATO allies.”
• Ireland and Lithuania are calling for an oil embargo on Russia—rumors of which pushed oil prices back up to $111 per barrel—and the U.S. hinted it may slap further sanctions on Russia.
• Pres. Biden warned American business leaders that Pres. Putin is likely to use cyberattacks on private American companies to retaliate against punitive measures the U.S. is placing on Russia: “He has the capability. He hasn't used it yet, but it's part of his playbook.”

Myanmar

• The Biden Administration formally accused Myanmar’s military of genocide against the Rohingya minority. The UN and several other countries have already recognized the conflict as a genocide, and the U.S. declaration isn’t likely to lead to any new sanctions on the ruling junta; it merely adds to the chorus criticizing the regime for chasing over 700,000 Rohingyas from their homes and terrorizing them on their escape route.

Aviation

• There’s no sign of any survivors of yesterday’s Boeing 737-800 crash in southern China, and heavy winds coupled with remote terrain are hampering search and rescue efforts.
• The 737-800 has a good global safety record, and isn’t thought to be affected by the safety issues that plague the newer 737-Max model. The carrier, China Eastern Airlines, also has a good safety record: it hasn’t had a crash in 18 years. However, something caused this particular plane to plummet more than 20,000 feet in a little over a minute.

Oil

• Saudi Aramco reported massive profits for 2021, with a net income of $110 billion—more than double Aramco’s 2020 net income. The company plans to use those profits to boost output capacity, invest in new fuels like hydrogen, and expand into shale drilling.

Other News

• Pakistan’s opposition filed a no-confidence motion against PM Khan for his handling of the economy and foreign policy. The vote will be held Friday, and Khan will be forced out if it passes. Khan is fighting back, characterizing the accusations as politically-motivated horse trading and threatening lawmakers who vote to oust him: “no one will marry your children.” No Pakistani PM has ever finished a full term in office.