Jeff Bezos Hands Dolly Parton $100 Million To Distribute Among Charities
Jeff Bezos may force his warehouse employees to pee in bottles, but when it comes to making headlines for charitable giving, the Amazon founder has scored an optics win – handing $100 million to 76-year-old country music star Dolly Parton as part of the ‘Bezos Courage and Civility award.’
The award recognizes “leaders who aim high, find solutions and who always do it with civility,” who are then tasked with distributing the $100 million to charities of their choosing, according to Bezos’ girlfriend Lauren Sanchez.
“The woman you’re about to meet embodies these ideals so thoroughly. She gives with her heart. What she’s done for kids, literacy and so many other things is just incredible,” Bezos said before presenting the award to Parton.
We’ve just announced a new Courage and Civility award recipient — @DollyParton, who leads with her heart, and will put this $100 million award to great use helping so many people. She joins prior awardees, @VanJones68 and @Chefjoseandres. Congrats, Dolly! pic.twitter.com/dzTuoGVp3G
“When people are in a position to help, you should help, and I know that I’ve always said I try to put my money where my heart is. I will do my best to do good things with this money,” Parton said in response to the award.
Bezos began handing out the award in 2021. On Twitter, the world’s second-wealthiest person said Parton joined activist Van Jones, who served as founding CEO of the REFORM Alliance and Dream Corps, and chef and humanitarian Jose Andres, who established World Central Kitchen, which provides food in the immediate aftermath of disasters, as recipients.
‘No Child Should Ever Have to Suffer’
Parton is no stranger to charitable donations, having donated $1 million to Vanderbilt University’s Medical Center (VUMC) in Nashville for pediatric infectious disease research earlier this year.
The donation was used in part to help aid research into COVID-19 and diagnosing and treating infections in children with cancer.
“I love all children. No child should ever have to suffer, and I’m willing to do my part to try and keep as many of them as I can as healthy and safe as possible,” Parton said in a statement at the time.
The singer-songwriter made a previous $1 million gift to VUMC in April 2020 in honor of her longtime friend, Dr. Naji Abumrad, to help aid researchers in finding a cure for COVID-19.
Parton has also donated to a number of other charitable organizations including the Barbara Davis Center for Childhood Diabetes, Save the Music Foundation, the Boot Campaign, and Cancer Research UK. She has also worked with People for the Ethical Treatment of Animals to raise awareness and help stop dog owners from chaining up the animals and leaving them outside.
Additionally, Parton herself has also founded multiple charities, including the Dollywood Foundation, which was founded in 1988 and under which the Imagination Library program was established. That program spans over five countries and gifts over 1 million free books each month to children around the world.
The singer was inducted into the Rock & Roll Hall of Fame earlier this month after previously declining the invitation, admitting she felt that she “hadn’t earned the right.”
A Shocking Defense Of Crypto From JPMorgan: “The FTX Collapse Will Be A Massive Ramp For Institutional Adoption”
With many commentators mistakenly equating one person’s record-breaking fraud – namely SBF hubris that he has full immunity from prosecution just because he is a prominent democrat donor – with the failings of the entire crypto space (odd how nobody said Jon Corzine bringing MF Global down with his fraud exposed the failings of fiat currencies) over the past 24 hours we have seen two very unexpected voices speaking out in defense of cryptocurrencies.
The first comes from Deutsche Bank which notes that just one year ago, in November 2021, the price of one Bitcoin exceeded $65,000, hitting an all time high, whereas just last week, Bitcoin hit a two-year low at just below $16,000 and the FTX crypto exchange deal collapsed.
But while DB’s Marion Laboure writes that investors have suffered significant losses, she also believes “this second “crypto winter” will be a net positive because the FTX collapse will edge the crypto ecosystem closer to the established financial sector.” Specifically, the DB analyst writes that the FTX crash spotlighted well-known structural issues in the crypto ecosystem: “insufficient reserves, conflict of interest, a lack of regulation and transparency, and unreliable data.” And as a result of the FTX collapse, “market concentration is greater than ever, with Binance being the biggest winner.”
The German bank goes on to note that “every time a major player in the crypto industry fails, the ecosystem suffers a confidence crisis. There are significant consumer and retail losses, but so far there is no systemic risk. However, this confidence crisis requires crypto investors to trust in the “Tinkerbell Effect” even more; in other words, the value of a crypto asset will depend entirely on what people believe it is worth.”
Tthe Deutsche strategist concludes that “as we have seen, crypto assets are high-risk products that can cause massive personal losses. For this reason, we continue to argue that regulators should quickly require crypto companies to comply with the rules imposed on traditional investment products. This would restrict crypto companies from fishing for financially illiterate consumers while governments develop overarching regulatory frameworks. The need is urgent. Several factors have aligned to create a potentially dismal situation for average consumers who may be susceptible to misleading information.”
A more surprising defense of crypto came from JPMorgan crypto analyst Steven Alexopoulos, who – just hours after JPM’s Nick Panigirtzoglou said that he expects more contagion and more liquidations as a result of the FTX collapse – wrote that far from being the death knell of the crypto sector, “the collapse of FTX a Painful Step Back but Might Prove to be the Catalyst that Moves Crypto Two Steps Forward.” Below we excerpt from the JPM note (available to pro subs in the usual place).
With FTX emerging earlier this year as a white knight, bailing out troubled crypto-related companies, the news of FTX itself collapsing this week sent shockwaves through the crypto markets. While this is certainly a major short-term setback, we see the widely publicized collapse of FTX as potentially dramatically accelerating the timeline to which crypto-related regulation will be ushered in (similar to new banking regulation which followed the GFC).
As a result, we see the news surrounding FTX as one step back, but one that could prove to be the catalyst to move the crypto economy two steps forward (further unlocking the utility value of blockchain). In fact, we see the establishment of a regulatory framework as the needed catalyst to massively ramp the institutional adoption of crypto.
And the punchline which we have been making ever since the news of the FTX collapse first broke:
Moreover, while the news of the collapse of FTX is empowering crypto skeptics, we would point out that all of the recent collapses in the crypto ecosystem have been from centralized players and not from decentralized protocols.
How long before Jamie Dimon, who five years ago infamously warned he would fire any employee who was caught trading bitcoin before capitulating and making crypto a focal point of his bank’s growth, and who now is certainly taking advantage of the crash in crypto to accumulate aggressively having learned his lessons from the first time, becomes one of the most vocal evangelists of digital currencies?
Russia Price Cap Could Threaten India’s Oil Supplies
By John Kemp, senior market analyst at Reuters
India would be one of the countries most exposed if Russia refuses to sell crude oil at the capped price under proposed sanctions to be imposed by the United States and the European Union. In 2021, India was the world’s third-largest crude importer (214 million tonnes) after China (526 million tonnes) and the United States (305 million tonnes) (“Statistical review of world energy”, BP, 2022).
India and China rely on imports by tanker from the Middle East, Russia and other regions, in contrast to the United States, which receives most of its imports by pipeline from neighbouring Canada.
India’s domestic crude and condensate production has been stuck at 30-40 million tonnes per year for the last two decades, data from India’s Ministry of Petroleum and Natural Gas shows.
By contrast, domestic petroleum consumption has doubled to 202 million tonnes in 2021 from 103 million tonnes in 2002 (“Snapshot of India’s oil and gas data”, Petroleum Planning and Analysis Cell, Nov. 10).
In the first ten months of 2022, India consumed a seasonal record 182 million tonnes, surpassing the previous peak of 178 million in 2019, before the pandemic.
As a lower-middle income country experiencing rapid industrialisation and urbanisation, India’s consumption is growing fast but its consumers are very sensitive to both price changes and the economic cycle.
Consumption has been growing by around 7% per year in the last 12 months, though there were signs of a possible slowdown to around half that rate in October.
Voracious Oil Intake
India’s refinery crude processing capacity increased to 251 million tonnes per year in 2021 from 115 million tonnes per year in 2002, and the country has emerged as a major exporter of refined products.
In 2022, India has become a big buyer of Russia’s crude following that country’s invasion of Ukraine and sanctions imposed on its exports in response by the United States, European Union and their allies.
India and China have absorbed additional crude and products imports from Russia, allowing the United States and the European Union to take more crude and fuels from non-sanctioned sources.
Because of its import dependence and price-sensitive consumers, India would be extremely vulnerable should Russia retaliate by refusing to sell crude and fuels at the capped price.
The resulting shortfall in physical crude supplies and surge in prices for both crude and fuels would hit refiners and domestic consumers hard.
Selling the Price Cap
U.S. and EU policymakers have said repeatedly they will set the cap at a level to ensure Russia continues exporting and any halt or reduction to exports would be irrational.
In remarks on Nov. 11 on a a visit to New Delhi, U.S. Treasury Secretary Janet Yellen said the price cap would work in India’s interest by giving it extra leverage to purchase Russian crude at deep discounts.
Yellen has become the chief advocate for the price cap concept as the Biden administration attempts to sell the idea to sceptical oil buyers and governments in Asia.
India is also an increasingly important diplomatic partner as the United States develops an “Indo-Pacific strategy” to counter China, so the U.S. administration has been anxious to allay fears about the price cap’s impact.
In recent months, the U.S. administration has walked back plans for an ambitious and strictly enforced price cap given concerns about the impact on prices, inflation and the economy at home and in importers like India.
Remarks in the last few weeks have suggested the administration will declare the cap a success if there is any reduction in oil prices received by Russia, whether deals are done under the cap or not.
Further SPR Releases
In contrast to the United States and China, India has limited strategic oil reserves to protect itself from any interruption of imports.
Ultimately, if there is any disruption to Russia’s petroleum exports, the United States will have to ensure India’s refineries remain supplied by releasing more barrels from its own Strategic Petroleum Reserve (SPR).
Even after recent drawdowns, the SPR contains 396 million barrels of crude, according to the U.S. Energy Information Administration, equivalent to roughly 50-55 million tonnes, at standard conversion rates.
The reserve is a fixed stock so it cannot replace the flow of Russia petroleum exports indefinitely, and the crude left in the reserve is not a particularly good match for Russia’s export grades.
But further SPR releases could buy policymakers and India’s refiners time and are likely in the event Russia retaliates against the price cap.
FedEx Freight, the less-than-truckload arm of FedEx Corp. and the nation’s largest LTL carrier, said Saturday it will furlough an undetermined number of drivers starting in early December.
The furloughs are scheduled to last about 90 days, during which time affected workers will continue to receive health benefits and will be allowed to file for unemployment benefits in their respective states of residence. Some eligible employees will be offered permanent transfer opportunities to other markets that have hiring needs, the unit said in a statement.
The furloughs are expected to affect a small number of drivers, and not all facilities will be targeted, said Miranda Yarbro, a FedEx Freight spokesperson. The furloughs will be voluntary, Yarbro added.
“Because of our previous experience with furlough and with the incentives we are offering, we are expecting employees to volunteer to meet the business need,” Yarbro said in an email.
The unit employs about 45,000 people. It was not immediately clear how many drivers it employs.
The action was taken in response to slowing macroeconomic conditions that have impacted LTL demand in recent weeks, the unit said. The LTL segment, which has shown very strong growth coming out of the pandemic, has seen volumes level off recently due to economic uncertainty caused by high inflation and recession concerns.
FedEx Freight has been the best performer of FedEx’s three transport business units. Its two larger units, FedEx Express and FedEx Ground, have been hurt by high costs and slower-than-expected demand. FedEx Freight, by contrast, has focused on profitable growth and has been willing to shed unprofitable tonnage to achieve that goal.
In its fiscal 2023 first quarter, which ended Aug. 31, FedEx Freight’s operating income increased 67%. The gains were driven by actions to improve shipment yields, as well as the positive impact of higher fuel surcharges, the parent reported.
Russians With Dual Citizenship Can Now Be Drafted, New Putin Decree Says
On Monday Russian President Vladimir Putin signed a decree which further seeks to address reported manpower shortages due to the war in Ukraine and after the prior controversial ‘partial mobilization’ order.
For the first time, Russians who hold dual citizenship are allowed to be drafted, according to the new decree. This changes the longstanding law stating that dual nationals were exempt from conscription.
“Nationals of any country can continue to serve in the Russian army under a contract in the ranks of soldiers, sailors, sergeants and foremen, so long as the individual isn’t under investigation, convicted or has a conviction that hasn’t been expunged, similar to the rules that apply to Russian citizens, according to the decree,” WSJ writes.
This will mark the first time that dual-national Russians can potentially drafted going back to a 1999 regulation. The wording of the law suggests Americans or Israelis, or dual citizens of any other countries who previously warned of this possibility could face conscription.
While this could possibly target a minority of Russians holding dual citizens from Western countries, the decree appears aimed primarily at tapping citizens hailing from border and regional countries.
“According to some military observers the easing of the citizenship regulations are primarily aimed at nationals from countries in Russia’s near abroad, such as in Central Asia, whose citizens saturate the migrant-worker labor force in Russia,” the WSJ report continues.
Russia is commonly estimated to have at least half-a-million people claiming dual citizenship. However, many may have fled the country in the weeks after Putin’s September 21st partial mobilization order.
According to a recent report in The Moscow Times, many of the hundreds of thousands of Russians who initially fled on fears of being drafted and sent to Ukraine have returned home due to work and economic stability factors.
“Draft-age men who left Russia in fear of being sent to fight in Ukraine are returning home after Russian President Vladimir Putin announced an end to the country’s chaotic mobilization that swept hundreds of thousands into the Armed Forces,” The Moscow Times wrote. “After the initial rush to get out of the country spurred by rumors of border closures, many found themselves facing the tough reality of trying to make ends meet in an unfamiliar city.”
That September order saw some 700,000 Russian young men flee the country within the weeks following, the Kremlin earlier admitted.
The Australian Labor government’s decision to gift weapons and armoured vehicles to the Solomons government has been branded “ill-conceived and dangerous” by Pacific expert Cleo Paskal, saying the move is pushing the country one step closer towards civil war.
On Nov. 2, the Australian Federal Police (AFP) delivered training and around $1.3 million (US$740,000) worth of equipment to the Royal Solomon Islands Police Force (RSIPF).
In a gifting ceremony, the RSIPF delivered 13 armoured police vehicles and 60 Daniels Defense MK18 rifles, according to an AFP statement.
Four vehicles will be part of a new Mobile Protection Unit that will provide the RSIPF with a “high-visibility presence” in the community and manage any “security threats and incidents” to critical infrastructure.
The move drew a sharp response from the leader of the Solomon Islands’ opposition, Matthew Wale.
“Sucking up to [Prime Minister] Soga and trying to out-compete China! For use, where, and when?” he wrote on Twitter.
Keeping the Solomons ‘Safe’
Clinton Smith, acting commander of the AFP, said the package helped keep communities “safe and secure.”
“The AFP is proud to be the Solomon Islands’ security partner of choice and will continue to work closely with RSIPF officers to ensure they are trained and equipped to provide the Solomon Islands community with an efficient, modern police force,” he said in a statement.
While Australia’s High Commissioner Lachlan Strahan said, the handover was another landmark in the ongoing security arrangement between both countries.
“We have been with each other through thick and thin. As Prime Minister Sogavare has said, our partnership is based on our shared duty to ensure that our region remains peaceful, prosperous, and stable,” he said.
The rearmament of the RSIPF first started in 2013 with a commitment from Australia to rearm a “limited number of officers” to ensure the RSIPF was able to deal with criminal threats. The latest move is Phase Two of the rearmament program.
Beijing was quick to respond, with the Chinese Communist Party (CCP) announcing a further donation—on top of existing commitments—of two water cannon trucks and other vehicles to the RSIPF.
Solomons PM Playing Both Sides
Beijing has ramped up bilateral ties with Solomon Islands Prime Minister Sogavare since his government decided to cut diplomatic ties with Taiwan for Beijing in 2019.
Since then, Sogavare has moved steadily to shore up power and deepen relations with the CCP.
In August 2021, Sogavare gave “grants” to 39 of 50 MPs in the national parliament—enough to change the Constitution—using money from a Beijing-backed slush fund.
In April 2022, Sogavare signed a security pact with Beijing that would allow the CCP to station troops, weapons, and naval ships in the country.
In September, the prime minister managed to secure enough votes to delay the country’s federal election—an election he may lose—claiming the government did not have enough resources to host the 2023 Pacific Games and run a national vote simultaneously.
“For over a year, he’s been making major moves to show he has no intention of holding an election he will lose and that he is arming himself for the civil war that will result, with the help of his patron China and, inexplicably, Australia,” said Cleo Paskal, Pacific expert and non-resident fellow at the Foundation for Defense of Democracies, in an email to The Epoch Times.
The Australian Labor government has continued a “soft power” offensive—concurrent to similar efforts by the U.S. Biden administration—to win over the Sogavare government, including an SB$100 million pledge to fund the Pacific Games, delivering more regional aid, and now, offering more weaponry.
“Canberra is in an elite capture race with China that it will lose,” she added. “It’s not going to be able to bribe more, send more weapons, and give international cover to someone who seems on track to kill his fellow citizens. That’s China’s thing, not Australia’s (one hopes).”
Paskal has long warned that Sogavare plans to trigger some form of civil unrest that will allow his government to deploy the military to consolidate power and delay elections inevitably—a move that has long-term benefits for Beijing.
Make Peace, Not War
However, Paskal noted Australia has the ability to use other means to win the influence war in the Pacific.
“Australia has a very good alternative—fight with ‘peacefare’—China and its authoritarian proxies hate when people come together and build stability from the ground up. That’s exactly what finally enacting the 2000 Townsville Peace Agreement would accomplish,” Paskal said.
The Townsville Peace Agreement was a roadmap that ended an ongoing civil war in the region and laid the foundation for the future of the country. However, several key steps in the Agreement have yet to be implemented.
Other suggestions around peacefare include expanding Australia and New Zealand’s migrant worker schemes to ease travel to-and-from the Pacific nations while opening up vast employment opportunities.
“This alternative future for Australia and New Zealand with our Pacific family would hold a mirror up to the model developing in Honiara under Sogavare and his Beijing backers,” wrote Michael Shoebridge, director of Strategic Analysis Australia, in The Australian newspaper.
“And it would also end Australia’s decades of failed security and aid-centred assistance to the Pacific, replacing it with a path that is sustainable.”
Technical Rally Runs Out Of Gas Despite Dovish Drawl From Fed’s #2
Over the weekend, we said that with earnings season over, with the lower than expected CPI print in the rearview mirror, and with 4 weeks to go until the next FOMC where just a payrolls report (which may well be the first negative print since the wu-flu) looms, risk has collapsed, and as the following chart from Piper Sandler’s Danny Kirsch shows, the 1-week stradle in the SPX has been slashed in half, and now anticipates just over 2.1% in price movement over the next week, the lowest in almost three months.
SPX 1 week straddle down to 2.18%…took out all the event risk and looking forward not much on the near term calendar pic.twitter.com/PDocUm570g
So with fundamentals now largely irrelevant for the next several weeks, what are traders to do? Why listen to Fed speakers, even if they contradict each other as today’s price action demonstrated so amply when first Fed Governor Christopher Waller spooked markets late on Sunday with his hawkish take that policymakers had “a ways to go” before ending interest-rate hikes, before his superior, the Fed’s #2 and vice chair, Lael Brainard, took the mic and whispered soothing words of dovishness, which immediately stopped the selling and sparked a rally that sent the S&P not only above 4,000 but to the highest level in the past two months, before stocks lost steam in the last hour of trading…
… and the Dow Jones pulled back as it was just shy, or less than 2%, from entering a new bull market from the October lows.
Looking beneath the surface, it was another day where energy outperformed…
… while most other sectors lagged.
Elsewhere, after a record two-day surge in Goldman’s most shorted basket, today’s the most shorted names dropped…
… with low-momentum stocks suffering a similar fate, and undoing some of their striking gains from last week.
On the other side of the trade, the chart below shows that high-momentum L/S funds suffered their 2nd worst 2-Day drop in the past 20 years according to Morgan Stanley.
Turning to other asset classes, after plunging last week, and being closed on Friday for Veteran’s day, cash Treasuries went nowhere on Monday …
… as did the dollar which was flat after suffering one of the biggest 2-day drops on record last week.
Finally, here is a chart of the one asset class that everyone is looking at and which prompted the last hour selling: namely cryptos, which were hammered to session lows just minutes before stocks were also hit, and while it remains unclear what prompted the selling – rumor of another exchange run, rumor of another blow up, rumor, rumor, rumor – it is unmistakable that any time cryptos sneeze (and plunge) they drag the rest of the financial world with them.
Jeff Bezos Promises To Give Away Most Of His Fortune To Charity
Amazon founder Jeff Bezos, the fourth richest person in the world, intends to give away most of his fortune during his lifetime.
In an interview with CNN’s Chloe Melas on Saturday at Bezo’s mansion in Washington, DC, speaking alongside his girlfriend, Lauren Sanchez, he said the bulk of his fortune would go to fighting climate change and unifying humanity.
Melas asked if he intends to donate most of his wealth within his lifetime, and Bezos replied: “Yeah, I do.”
Exclusive: Jeff Bezos tells CNN that he’ll give away the majority of his $124 billion net worth during his lifetime, the first time he’s made such a promise. https://t.co/br4nQKVR3npic.twitter.com/puR4MFOAAo
“But the couple’s biggest challenge may be figuring out how to distribute Bezos’ vast fortune. Bezos declined to identify a specific percentage or to provide concrete details on where it would likely be spent,” CNN said.
Maybe Bezos wouldn’t commit to a specific figure because, according to Bloomberg Billionaires Index, his net worth has collapsed by 25.6% year-to-date due to a 40% plunge in Amazon shares this year. As of Friday, Bezos is worth $123.9 billion.
Bezos’ wealth is mostly tied up in Amazon stock.
The 20-minute interview covered many topics, from Bezos’ views on politics to economic turmoil to his space venture where Sanchez plans to visit low-Earth orbit.
Bezos has committed $10 billion over the decade, or about 8% of his current net worth, to the Bezos Earth Fund, which Sanchez co-chairs.
“The hard part is figuring out how to do it in a levered way,” he said, implying that even as he gives away his billions, he is still looking to maximize his return. “It’s not easy. Building Amazon was not easy. It took a lot of hard work, a bunch of very smart teammates, hard-working teammates, and I’m finding — and I think Lauren is finding the same thing — that charity, philanthropy, is very similar.”
“There are a bunch of ways that I think you could do ineffective things, too,” he added. “So you have to think about it carefully and you have to have brilliant people on the team.”
The latest recipient of the billionaire’s money via Bezos Courage and Civility Award, an annual award distributed by Bezos, was country music legend Dolly Parton, who received $100 to donate as she pleases.
Oh… and there’s this.
Jeff Bezos Says He Will Give Most of His Money to Charity: CNN
Zelensky Visits Kherson, Hailing It As “The Beginning Of The End Of The War”
Ukrainian President Volodymyr Zelensky showed up in the southern city of Kherson on Monday, after last week Russia made an unusually blunt defense ministry televised announcement that its forces would withdraw from the city, citing a desire to preserve troop and civilian lives.
Zelensky took part in a flag raising ceremony in the newly liberated city center. “This is a great pleasure for my heart and soul. I want to thank you for who you are and for returning Ukraine to the Kherson region. We are returning our Armed Forces, our state, our flag,” Zelensky said from Kherson’s central square. He called the Kherson victory “The beginning of the end of the war.”
While standing before a crowd, Zelensky led the ceremony in a moment of silence for all the Ukrainians who had died defending the city. It marks a major defeat for Russia, given it was the only regional capital to have been held by Russian forces since nearly the start of the invasion. Russia had firm control of it starting in early March.
“All of us, our Armed Forces, our National Guard, intelligence have shown that it is impossible to kill Ukraine,” Zelensky said. But he said, “The price of this victory is considered very high,” underscoring it came at the cost of “a lot of people wounded and a very high number of dead.”
Most importantly, the Ukrainian leader suggested he could be ready for negotiations, after reports emerged this month that Washington has been pressing him to be open to ceasefire talks. He hinted at this possibility from Kherson:
The liberation of Kherson marks the “beginning of the end” of the war with Russia, Ukrainian President Volodymyr Zelensky said on a visit to the city.
Ukraine is “moving forward” and ready for peace, he told soldiers.
He had stressed the government and people are “ready for peace, peace for all our country.”
Official flag-raising in Kherson with the participation of the President of Ukraine pic.twitter.com/djFHbFRbCB
Additionally, Zelensky suggested it wouldn’t have been possible without support from the US and Western allies:
He thanked Nato and other allies for their support, adding that high mobility artillery rocket systems (Himars) from the United States had made a big difference.
Zelensky last week reiterated that while he’s open to talks, Ukraine will never agree to territorial concessions, which makes the possibility of negotiations unlikely, given President Putin has signed into law the Russian Federation’s annexation over the four territories of Luhansk, Donetsk, Zaporizhzhia and Kherson. Putin recently called this “non-negotiable” and irreversible.
Ukraine’s US-funded army defends democracy in Kherson by capturing and torturing civilians accused of collaboration – this one apparently because his old military ID identified him as Russian pic.twitter.com/lkBeUiDQ4S
Putin spokesman Dmitry Peskov reacted to Zelensky’s appearance in Kherson on Monday, saying “We leave this without comment.” He added: “You know, this territory is part of the Russian Federation.”
Western media outlets have been reporting on Ukrainian retribution attacks now happening in the city…
Meanwhile, President Biden while speaking from the G20 summit in Bali reiterated the US position of “nothing about Ukraine without Ukraine” – responding to a reporter’s question about the possibility of a negotiated settlement. Biden further hailed Kherson a “Significant, significant victory for Ukraine.”
CIA & Russian Intel Chiefs Meet In Turkey To Discuss Nuclear Tensions
In a rare diplomatic opening of dialogue after nine months of war in Ukraine, CIA Director William Burns is in Turkey on Monday for talks with his Russian counterpart aimed at reducing nuclear tensions between the two superpowers.
Burns is holding the talks with Sergey Naryshkin, the head of Russia’s Foreign Intelligence Service, or SVR, in Turkey’s capital of Ankara. This marks the highest-ranking face-to-face meeting between US and Russian officials since President Putin ordered the invasion of Ukraine on Feb.24.
The Kremlin confirmed that the meeting is taking place at Washington’s request. “Such negotiations really took place. It was the initiative of the American side,” TASS quoted Kremlin spokesman Dmitry Peskov as saying.
According to Al Jazeera, citing regional sources, “Burns reportedly warned Naryshkin of the consequences Russia would face in the event it used nuclear weapons in Ukraine.”
The two intelligence chiefs are said to not be discussing settlement of the Ukraine war, but are focusing on the potential for a prisoner exchange between the US and Russia, as well as the de-escalation of nuclear tensions.
According to a White House national security official cited by The Associated Press:
The official, who was not authorized to comment publicly and spoke on the condition of anonymity, said Burns and Sergei Naryshkin, the head of Russia’s SVR spy agency, would not discuss settlement of the war in Ukraine. Burns is expected to raise the cases of Phoenix Mercury star Brittney Griner and Michigan corporate security executive Paul Whelan, two Americans detained in Russia whom the Biden administration has been pressing to release in a prisoner exchange.
Washington and NATO allies have long accused President Putin of making nuclear threats while citing ‘red lines’ in Ukraine – something which Putin has denied, explaining his words were taken out context. The Kremlin has repeatedly said its nuclear doctrine has not changed, explaining that it will only use nukes if Russian territory and sovereignty comes under direct existential threat.
Meanwhile, at the G20 summit in Bali on Monday – which Putin was not in attendance for, President Biden and China’s Xi Jinping “reaffirmed our shared belief in the threat for the use of nuclear weapons is totally unacceptable.” The two had discussed Ukraine, finding common agreement on the need to avoid ratcheting nuclear rhetoric among superpowers.
But the real question remains: will Ukraine’s recapture of Kherson lead to any serious attempt at negotiations? It certainly gives Kiev the battlefield leverage it has long sought. Influential voices within the Biden administration have also begun talking about pushing for peace, however, so far the hawks have prevailed, arguing that Ukraine must continue its military momentum and that seeking a ceasefire would only suggest weakness.
CIA director Bill Burns “is not conducting negotiations of any kind” with his Russian counterpart.
