I highlighted a under-appreciated pattern final week: Public stress to do extra to punish Russia.
It began with Biden’s press convention the place he was hit with query after query about harsher sanctions and chopping of Russia from SWIFT.
That very same stress has hit politicians all over the place. One-by-one, leaders have been peppered with related questions and there are indicators they’re breaking ranks. On the weekend, leaders from Italy and Hungary — two of the potential holdouts — mentioned they had been in favor of booting Russia from SWIFT.
Germany continues to holdout however there are indicators it is also feeling public stress. Beforehand they’d refused to ship army provides to Ukraine however now say they may ship 1000 Javelin anti-tank missiles and 500 Stinger missiles.
German permission is not wanted although and there is a rising EU consensus to do it.
All this dangers blow-back from Russia as nicely.
It is powerful to consider each report on the market however the primary jist is that Russia is not doing in addition to hoped. That might result in a negotiated settlement or may result in Russia utilizing more-brutal techniques. If it is the later, then stress will mount on the EU, US and different nations to do much more.
All this to say: Because it stands now, the late-week rebound in threat urge for food might be on a shaky basis.