(Bloomberg) --

President Joe Biden and Treasury Secretary Janet Yellen on Sunday affirmed US support for Ukraine as the Eastern European country battles Russia’s invasion and missile attacks.

The US has promised $38 billion in military aid and delivered $13 billion in direct aid to Ukraine already. When asked in an interview with CBS’s “60 Minutes” how long American support can carry on, Yellen responded, “As long as it takes.” 

The Treasury chief also gave a qualified thumbs-up on a new effort by the US and its allies — launched Dec. 5 — to limit Russia’s revenue from oil exports.     

“The price cap only went into effect at the beginning of this week, but I would say, so far, so good,” Yellen said.

Separately, Biden told President Volodymyr Zelenskiy in a call on Sunday his country is committed to continue providing Ukraine with security, economic and humanitarian assistance, as well as holding Russia accountable for the war, according to a readout from White House.   

(See RSAN on the Bloomberg Terminal for the Russian Sanctions Dashboard.)

Key Developments

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  • Dark Winter in Ukraine, Covid’s Spread in China: Weekend Reads
  • Wheat Falls a Fifth Week as Black Sea Shipment Prospects Improve
  • Turkey Won’t Buckle as Sanctions Spat Keeps Oil Flow Halted 

(All times CET)

Zelenskiy Says He and Biden to Talk (10 p.m.)

Ukrainian President Volodymyr Zelenskiy said he was planning a phone call with US President Joe Biden, after talking with the leaders of Turkey and France earlier Sunday.

A more than one-hour conversation with French President Emmanuel Macron included defense issues, Zelenskiy said in his nightly video address. With Turkish President Recep Tayyip Erdogan, he discussed ways to expand the deal with Russia to safeguard Black Sea grain shipments.

Power Restored to 1.2 Million in Odesa (2:40 p.m.)

The number of people without electricity in Odesa region fell to 300,000 from 1.5 million, regional governor Maksym Marchenko said in a video statement on Telegram.

“Tomorrow we are also expecting a significant improvement of the situation,” Marchenko said.

Zelenskiy had given details of the power outages in Odesa in his nightly video address on Saturday.

Attacks Disrupt Cargo Loading at Ukraine Ports (2:28 p.m.)

Russian drone attacks disrupted power supply to Ukrainian ports, the country’s Sea Ports Authority said on Facebook.

Power outages caused by Russian drone attacks on Odesa region forced ports of Odesa and Pivdennyi to stop loading, while Chornomorsk port was functioning partially. As of Sunday, Pidvennyi and Chornomorsk ports have resumed loading while Odesa stille hasn’t. 

Lack of power will further exacerbate problems with Ukraine’s exports via the grain corridor, the Authority said.

Erdogan, Putin Discuss Grain Corridor Expansion (1:05 p.m.)

Turkish President Recep Tayyip Erdogan discussed ways to expand an agreement to safeguard global grain shipments with his Russian counterpart, according to a statement from Turkey’s presidency.

In a phone call with Vladimir Putin, Erdogan said different commodities and food products can be included in the grain corridor. The Turkish leader helped broker the original agreement to ensure continued flows of grain and vegetable oil from Ukraine in the midst of the war.

Zelenskiy said on Twitter that he’d spoken to Erdogan on Sunday about the possible expansion of the grain corridor.

Rockets Hit Russian-Occupied Melitopol Saturday (12:36 p.m.)

Ukrainian and Russian officials reported a strike on Saturday evening on Melitopol, a city in the country’s south where Russian troops have massed after their pullout from Kherson last month.

Details of the attacks and casualty estimates were conflicting. Ukraine hit a tourist base in Melitopol with HIMARS rocket systems, killing two and wounding ten people, TASS reported, citing Russia-appointed occupation authorities in the region. Ukrainian city mayor Ivan Fedorov, working in exile, said on Telegram the explosions killed nearly 200 Russian servicemen in military bases in Melitopol, according to reports from local residents.

UK’s Cleverly Says Putin Signal for Talks Not Sincere (9:30 a.m.)

UK Foreign Secretary James Cleverly said that Vladimir Putin’s recent comments signaling the possibility of peace talks don’t appear sincere. 

“I’m not really seeing anything coming from the Russian side that gives me confidence that Vladimir Putin is entering these talks in good faith,” he said in an interview with Sky News. “The wider rhetoric is still confrontational.” 

He said that peace talks can’t be a “fig leaf for Russian rearmament and further recruitment of soldiers.” Cleverly also reiterated the UK position that any talks would have to be “real and meaningful” but that Ukraine would have to decide on the terms of any negotiated settlement. 

Ukraine Set for German Weapons Delivery (7:00 a.m.)

Ukraine will take delivery of more German weaponry, the country’s new ambassador to Berlin said in an interview.

“In a direct conversation, we were promised we get more weapons and more ammunition,” Ambassador Oleksiy Makejev told German newspaper Welt am Sonntag in an interview.

Ukraine is demanding air defense systems, self-propelled howitzers, anti-aircraft gun tanks and ammunition from Germany. In addition, discussions continue over the deliveries of Marder and Leopard tanks, the newspaper reports.

Ukrainian Troops Battle Russian Attacks (6:00 a.m.)

Ukrainian troops repelled Russian attacks in the areas of 11 settlements in the Luhansk and Donetsk regions, including Bakhmut, according to a daily update from the Ukraine army General Staff.

Russian forces launched three missile and 17 air strikes, as well as 60 multiple-launch rocket system attacks.

 

 

--With assistance from Aliaksandr Kudrytski.

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