Russia Allocates 18 Trillion Won in Government Bonds... Speculation of Additional Conscription
[Asia Economy Reporter Moon Chaeseok] Ukrainian President Volodymyr Zelensky reportedly stated that Russia is seeking a short-term ceasefire plan.
According to Bloomberg News, on the 19th (local time) at the Halifax International Security Forum held in Canada, he said, "Russia is seeking a short ceasefire, a brief pause in fighting to regain strength."
He added, "Some may call this the end of the war, but such a ceasefire will only worsen the situation."
This remark draws attention as it comes amid a stalemate in the Ukraine war and rising calls for negotiations from Western countries.
Russia has struggled on three fronts: northern Kharkiv Oblast, eastern Donbas, and southern Kherson Oblast, recently showing setbacks by withdrawing around the strategic city of Kherson.
In response, governments of Western countries including the United States have voiced that this winter, when Ukraine's counteroffensive yields results and fighting quiets down, is an opportune time for peace talks.
President Zelensky has rejected negotiation talks, setting preconditions such as ▲restoration of territorial integrity (recapturing all occupied areas) ▲payment of war reparations by Russia ▲punishment of war criminals ▲and international guarantees for Ukraine's security.
The White House stated that the notion that the U.S. is pressuring Ukraine to negotiate is not true.
John Kirby, White House National Security Council (NSC) Coordinator for Strategic Communications, explained at a briefing the previous day, "Everyone agrees that the best outcome after Russia's withdrawal is an agreement through negotiations," but added, "Whether and when to negotiate is a decision for Zelensky."
In this context, there are ongoing forecasts that the war, which began with Russia's invasion on February 24, could continue for a long time.
News also emerged that Russia issued an unprecedented scale of government bonds to finance the war.
The UK Ministry of Defence announced on its official Twitter that "Russia issued government bonds worth 830 billion rubles (approximately 18 trillion won) on the 16th."
This scale is considered the largest ever for bonds issued by Russia in a single day.
The UK Ministry of Defence pointed out, "Since bond issuance is a major mechanism supporting the significantly increased defense spending after the Ukraine invasion, this is important for Russia."
It further explained that Russia set its defense budget for next year at 5 trillion rubles (approximately 110 trillion won), which is more than a 40% increase compared to the budget announced last year.
The UK Ministry of Defence analyzed, "In uncertain times, the cost of issuing bonds increases. Considering this scale, the Russian Ministry of Finance evaluates the current situation as relatively favorable to Russia but expects the fiscal environment to become more uncertain next year."
There are also observations that Russia is preparing unofficial conscription as part of reorganizing its forces.
The U.S. defense and foreign policy think tank Institute for the Study of War (ISW) pointed out that Russia is preparing to secretly conduct additional conscription to replenish its troops.
ISW stated that although Russian President Vladimir Putin recently announced that the partial mobilization officially ended on the 31st of last month, signs that officials are preparing for additional mobilization were detected on Telegram channels.
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