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US & Russia’s Leaders Participate in “Critical” Meeting

Today, U.S. President Joe Biden is meeting with Russian President Vladimir Putin in Geneva. Mr. Biden’s agenda includes topics such as Russia’s opposition repression, the nation’s tense relationship with Ukraine, its meddling in foreign elections, human rights, spying, and recent cyberattacks.

None of the two leaders expect that the meeting will help warm the frosty relationship between Washington and Moscow. Mr. Putin has recognized that the relationship between the two nations has reached “its lowest point in recent years” with Mr. Biden agreeing by adding “To be clear, I think he is right; it’s a low point”.

The U.S. president plans to arrive in Geneva with a group of U.S. allies, a move that can be interpreted as presenting a united front against Russia. Mr. Biden characterized the meeting as “critical” and stated that he will extend an offer to Moscow to work together on common areas if the Kremlin wishes to.

According to Reuters, a senior U.S. official reported that Mr. Biden plans to be open about the two nations’ differences and will be ready to impose costs on Russia for actions that his administration considers unacceptable. After the meeting, the two presidents are planning to hold separate news conferences.

The conferences will reveal the outcome of the summit. Increased volatility is expected in USD/RUB and other USD denominated assets. Follow our latest posts, keep abreast of the latest developments in the forex markets, and ready your trading plans.