Witkoff and Kushner to meet Putin in Moscow to discuss an end to the Ukraine war

Oil prices have declined as traders closely monitor ongoing peace talks between Russia and Ukraine, raising concerns about the stability of oil supplies from Venezuela. The January WTI contract has seen a notable drop, reflecting market anxieties over geopolitical tensions and their potential impact on oil production.

European natural gas prices have dropped to an 18-month intraday low, influenced by unseasonably warm weather and ongoing peace talks between Ukraine and Russia. This decline reflects market reactions to the evolving geopolitical landscape and energy supply dynamics.

India has been importing discounted Russian oil, which has raised concerns as these purchases indirectly support Moscow's military actions in Ukraine, leading to increased scrutiny from Western nations, particularly the U.S. and Europe.

A fourth Russia-connected tanker was attacked in the Black Sea on Tuesday, marking a significant increase in assaults on vessels associated with Moscow as the conflict in Ukraine approaches its fifth year. This escalation reflects ongoing tensions in the region and the strategic importance of maritime routes for both Russia and Ukraine.

Russian President Vladimir Putin is set to enhance energy and defense exports during his upcoming visit to India, aiming to strengthen bilateral ties amid global economic shifts. This visit comes at a time when Russia is focusing on expanding its industrial output, particularly in military-related sectors, which have seen significant growth recently.

The European Central Bank (ECB) has declined to act as a backstop for a €140 billion loan to Ukraine, rejecting a proposal from the European Commission that aimed to utilize frozen Russian assets as collateral. This decision comes amid ongoing financial challenges faced by Ukraine due to the conflict with Russia.