Sunday, May 22, 2022

Ukraine: "Italy Circulates 4-Point Peace Plan"

 From the Wall Street Journal, May 20:

Italy presented a four-point peace plan this week to United Nations Secretary General Antonio Guterres to end the conflict in Ukraine.

“We are working with partners and allies, including Ukraine, on a peace plan,” said a spokesman for the Italian Foreign Ministry, declining to give further details. A spokesman for Mr. Guterres declined to comment on the proposal.

The plan calls for local cease-fires to allow for civilian evacuations, and creating the conditions for a general cease-fire leading “to a long-lasting peace,” Foreign Minister Luigi Di Maio said on Friday, according to the Associated Press.

Italian newspaper La Repubblica reported earlier on the proposal, with points that mostly mirror comments made publicly by Prime Minister Mario Draghi and other Western European leaders.

The first step in the peace plan, according to the newspaper, is a cease-fire and the demilitarization of the front lines.

The second point is that Ukraine would be a neutral country, with its security guaranteed by a not-yet-identified group of countries. The contours of this part of the plan would be discussed at a peace conference....


President Zelensky has done some bluster and bluff and Poland's President Duda wouldn't like it but if the U.S. and the rest of NATO say take the deal. Ukraine won't have much choice.

If interested see also Friday's: "Whoa: There Appears To Be A New U.S. Plan For Ukraine"

Tight stops on equity shorts and hydrocarbon longs.