By Tyler Durden
update(5:37pm): The Kremlin indicated there were no “breakthroughs” in the morning’s Biden-Putin virtual meeting, which lasted two hours, and focused on the brewing Ukraine crisis – which we noted is perhaps to a large degree a wholly manufactured crisis. However, there were “constructive” strides made. Crucially the two leaders agreed to initiate lower-level government-to-government talks on Russia’s “red lines” – according to the Kremlin.
The Russian side is also saying Biden agreed to discuss Putin’s proposal for legal guarantees preventing any further NATO expansion eastward. Here’s a further breakdown of official Kremlin states following the call, according to Bloomberg:
- Leaders agreed to hold lower-level discussions soon on Russiaâs “red lines”: no further expansion of NATO alliance or threatening weapons toward Russia; talks will also cover Putinâs proposal for binding security guarantees on that issue
- “Putin said you Americans are worried by our battalions on Russian territory thousands of kilometers from the U.S., while we have genuine concerns about our security, Russiaâs security.”
- USÂ agreed to let Russia inspect diplomatic facilities in USÂ confiscated in recent years
- Putin proposed that both sides “zero out” restrictions on diplomatic operations imposed in recent years
- Putin told Biden that Russian forces on its own territory arenât a threat to anyone
- “Our president said sanctions arenât a new thing, theyâve been used for a while and they donât give any positive effect either for the U.S. or Russia” Leaders didnât discuss the possibility of an in-person meeting
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