Ukraine’s central bank held interest rates unchanged at 25%, as expected, and increased its outlook for economic growth by more than six-fold at its meeting on Thursday — to 2% from an earlier 0.3%. 

Russia rejected a US embassy request to visit jailed Wall Street Journal (WSJ) reporter Evan Gershkovich after the US declined to issue visas to Russian journalists for Foreign Minister Sergey Lavrov’s visit to the United Nations this week. 

Key developments

• The hard part for Xi starts now after finally calling Zelensky
• Ukraine holds rates as improved outlook points to easing
• Russia doesn’t see need for more Opec+ cuts, says Interfax  
• Ukraine war aid faces new hurdle as Slovak leader eyes return
• Russia bars US embassy visit to jailed reporter in visa backlash

Russia denies consular visit to jailed WSJ reporter in visa row

Russia said its decision to reject a request by the US embassy in Moscow to visit jailed Wall Street Journal reporter Evan Gershkovich came in retaliation for a failure to issue visas to its journalists for Foreign Minister Sergey Lavrov’s visit to New York.

The ministry said it protested to a senior US diplomat for “provocative” actions that prevented visa processing for Russian media. Lavrov this week chaired sessions of the UN Security Council under Russia’s rotating presidency. 

Gershkovich (31) is being held in Moscow’s Lefortovo prison on allegations of espionage after he was arrested in March while on a reporting trip to the city of Yekaterinburg in Russia’s Urals region.

Fed’s Powell tricked by Russian ‘pranksters’ posing as Zelensky  

Federal Reserve Chairman Jerome Powell held a call with a pair of Russian pranksters posing as Ukrainian President Volodymyr Zelensky, according to video shown on Russian state television.

Apparently thinking he was speaking to Zelensky, the video shows Powell answering questions on topics ranging from the outlook for inflation to the Russian central bank. There were several clips lasting about 15 minutes and it’s unclear if the footage was altered.

Read more: Fed’s Powell tricked by Russian ‘pranksters’ posing as Zelensky   

Ukraine holds rates steady, raises growth forecast  

Ukraine’s central bank held interest rates unchanged and increased its outlook for economic growth by more than six-fold, indicating it may begin reversing wartime monetary tightening earlier than expected.

Policymakers raised their 2023 economic growth outlook to 2%, from 0.3% earlier, and cut the end-year inflation forecast to 14.8% from 18.7%.

Hard part for Xi starts now after Zelensky call 

After finally speaking to Ukraine’s president, Chinese leader Xi Jinping faces harder challenges in his push to end Russia’s war in Ukraine, which this week entered its 15th month. 

Xi’s quest to portray China as a neutral broker was already undermined by his tight relationship with Russian President Vladimir Putin — and got another setback from an uproar caused by a Chinese diplomat who last week questioned the sovereignty of ex-Soviet states.

Chinese officials have so far sidestepped or ignored questions about when a Chinese envoy may visit Ukraine, and whether Beijing would support any effort by Russia to keep seized territory.

Russia doesn’t see need for more Opec+ cuts: Interfax 

There’s no need for additional oil output cuts beyond what key producers have already agreed, as the global crude market has achieved balance, Interfax reported, citing Russian Deputy Prime Minister Alexander Novak. 

“We took this decision only a month ago, and it will come in force from May for the countries that joined the cuts voluntarily,” Novak said in Moscow, referring to Opec+ curbs, according to the news agency. The voluntary output reductions will be supportive of the market in case of an imbalance, he added. 

Prime minister asks Italy, Vatican to help with grain export deal renewal  

Ukraine needs help from all of its partners — including Italy and Pope Francis — to pressure Russia to continue the operation of the grain deal corridor after May 18 without additional restrictions, Ukraine Premier Denys Shmyhal said in Rome.  

Russia ‘setting sandbag fighting positions at Zaporizhzhia nuclear plant’ 

Kremlin forces have “established sandbag fighting positions on the roofs of several of the six reactor buildings at Zaporizhzhia nuclear power plant,” the UK defence ministry said. 

Although Russia has controlled the plant since March 2022, “this is the first indication of the actual reactor buildings being integrated in tactical defence planning,” the ministry said in a Twitter update. 

“The move highly likely increases the chances of damage to ZNPP safety systems if fighting takes place around” the facility, the UK said, adding that “direct catastrophic damage” to the heavily reinforced structures was unlikely.  

Zelensky says talk with Xi means new opportunity 

Zelensky described his talk with China’s Xi on Wednesday as “long and rather rational”. He added in his regular nightly video address: “Now there’s an opportunity to give new energy to our relations — Ukraine and China.”

Zelensky stressed that China has the same view as his country on the freedom of seafaring and trade. Xi assured Zelensky of his support to continue the Black Sea Grain Initiative. The call was the first since Russia’s invasion of Ukraine started.

Read more: Xi finally talks to Zelensky as China seeks peacemaker role 

Zelensky discussed defence issues with UK delegation 

Zelensky met a delegation of senior officials from the UK in Kyiv to discuss further military aid and rallying support from other foreign partners for the Ukrainian war effort, according to the presidency’s website.

The meeting included UK National Security Adviser Tim Barrow. Zelensky reiterated his country’s need for modern military jets. 

Russian forces shell Mykolayiv overnight 

Russian forces shelled the city of Mykolayiv in southern Ukraine with four Kalibr missiles overnight, aimed at a residential apartment complex and a historic landmark building, the regional governor, Vitaliy Kim, said on Telegram. The attack killed one person and wounded at least 23, including a child, he said.

Poland probes unidentified military object 

Polish authorities were investigating the remains of an unidentified military object that was discovered in the northwest of the country, the defence ministry said in a tweet on Thursday.

Prosecutors, military police and minesweepers were sent into the forest in an area 15km outside Bydgoszcz, according to Justice Minister Zbigniew Ziobro. The object did not represent a risk for residents. DM