Ukraine Recap: EU Convenes in Kyiv in First Meeting Outside Bloc

Bloomberg News
Mon, October 2, 2023 

(Bloomberg) -- European Union foreign ministers gathered in Kyiv to renew their commitment to Ukraine’s defense against Russia’s invasion, the first time the bloc has held a meeting outside its territory and in a country at war.

Before talks with Ukrainian Foreign Minister Dmytro Kuleba, EU foreign-policy chief Josep Borrell said member states “deeply and thoroughly” regretted Saturday’s decision by US lawmakers to pass a spending bill without $6 billion in additional funding for Ukraine, part of an effort to avoid a government shutdown in Washington. Kuleba dismissed the move by the US Congress as an “incident” rather than a lasting shift in policy, while Borrell said he’s certain it will be “reconsidered.”

“We don’t feel that the US support has been shattered because the United States understands that what is at stake in Ukraine is much bigger than just Ukraine,” Kuleba told reporters. “It’s about the stability and predictability of the world and therefore I believe that we will be able to find the necessary solutions.”

Markets

Saudi Arabia and Russia, the two nations leading OPEC+ oil cuts, boosted their crude exports last month, offering solace to a global market where supply is getting increasingly tight. The two lifted their combined crude exports by about 1 million barrels a day in September, though their collective flows remained well down on where they were as recently as July.