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Take Five: Intervention watch is here
  + stars: | 2022-09-23 | by ( ) www.reuters.com   time to read: +5 min
Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. Election results from Italy, euro area inflation numbers and U.S. and Chinese data also give investors plenty to chew over. Japan's authorities finally had enough of a weak yen and intervened to stem a sharp decline against the dollar. Investors have already ramped up expectations for another 75 bps, ECB rate hike in October, so the data shouldn't change the near-term rate outlook. How a new government navigates an energy crunch that is pushing highly-indebted Italy into recession will also be under scrutiny.
Russian Foreign Minister Sergey Lavrov will face off on Thursday with his Ukrainian and Western counterparts, including U.S. Secretary of State Antony Blinken, when the United Nations Security Council meets over atrocities committed in Ukraine. Russia invaded Ukraine on Feb. 24 as the Security Council met in New York to discuss Western concerns that Moscow was planning such a move. Ukraine, the United States and others have accused Russia of war crimes in Ukraine. The meeting on Thursday will be at least the 20th time the Security Council has met on Ukraine this year. Ukraine’s chief war crimes prosecutor told Reuters last month his office is investigating almost 26,000 suspected war crimes cases committed since Russia’s Feb. 24 invasion and has charged 135 people.
Russian Foreign Minister Sergei Lavrov attends a ceremony of receiving letters of credence from newly-appointed foreign ambassadors at the Kremlin in Moscow, Russia, September 20, 2022. Russia invaded Ukraine on Feb. 24 as the Security Council met in New York to discuss Western concerns that Moscow was planning such a move. read moreUkraine, the United States and others have accused Russia of war crimes in Ukraine. The meeting on Thursday will be at least the 20th time the Security Council has met on Ukraine this year. While it was unlikely Russia's seat at the U.N. Security Council would be left empty during the meeting, it was unclear how long Lavrov might stay in the chamber.
The bloc's 27 foreign ministers are in New York for the annual gathering of world leaders at the United Nations. He said the ministers would discuss continuing military support for Ukraine and an eighth sanctions package on Russia. "It's clear Russia wants to destroy Ukraine," Borrell said. Wednesday's meeting should emphasize unity, move ahead quickly with a new sanctions package and use the European peace facility funding mechanism to ramp up weapons supplies to Ukraine, he said. Keeping unity among the 27 for a sanctions package may prove complex amid an energy supply crisis that has hit the bloc hard.
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