Moments ago, Russian president Vladimir Putin arrived in Minsk, Belarus where upon the initiative of Belarusian President Alexander Lukashenko a summit between the Customs Union (Russia, Belarus and Kazakhstan) and Ukraine will be held on Tuesday. As Interfax adds, the meeting will also be attended by three European commissioners – EU High Representative for Foreign Affairs and Security Policy Catherine Ashton, Trade Commissioner Karel De Gucht and European Commission Vice President, Energy Commissioner Gunther Oettinger.
Amusingly, Putin’s arrival did not proceed without incident…
This will be second meeting in the past three months between Putin and Ukrainian President Petro Poroshenko organized with the mediation of a president a third country. However, official confirmation that a separate meeting between Putin and Poroshenko will take place does not yet exist.
As noted earlier, the main reason for the recent ramp in futures is because someone activated the de-escalation algo sending futs promptly from overnight lows to highs, on hopes there will be some resolution of Ukraine’s proxy civil war, and maybe a detente between Russia and Europe, where the latter is now on the verge of a triple-dip recession due to “costs” against Russia.
This post was published at Zero Hedge on 08/26/2014.