• The European Union announced a plan to raise over $140 billion from windfall taxes on non-gas energy profits to soften the impact of high prices this winter on households and businesses, with European Commission President Ursula von der Leyen saying “it is wrong to receive extraordinary record profits benefiting from war and on the back of consumers.” If approved by E.U. member states, the taxes will be levied in concert with consumption-cutting measures and broader reforms to reduce the impact of surging natural gas prices on energy markets. (Financial Times)
• Armenian and Azerbaijani forces continued to clash, with Armenia accusing Azerbaijan of shelling and launching drones at the Armenian resort of Jermuk, while Azerbaijan said Armenia shelled its troops in Nagorno-Karabakh. Armenia says it will ask Russia to intervene on its behalf, but the Kremlin has made no commitments to assisting Armenia and is urging both former Soviet states to de-escalate. (The Associated Press)
• The United States is weighing a package of sanctions against China to fend off a potential invasion of Taiwan and is working with Taipei to persuade the European Union to implement a matching package to maximize the deterrent effect. The U.S. measures would go beyond current investment and export restrictions on strategic sectors like semiconductor chips, while Taiwan has reportedly only asked Europe to come up with a plan of action in case Beijing attacks. (Reuters)
• The U.S. State Department says Russia has spent at least $300 million dollars to influence elections in more than 20 countries since 2014 — including in favor of former President Donald Trump during the 2016 election — and plans to spend even more, according to a broad review of U.S. intelligence. Russian influence campaigns funnel cash, cryptocurrency and luxury gifts though think tanks, consultancies and shell companies to fund disinformation campaigns, politicians and extremist political parties, and the State Department warned that China and other countries also use similar tactics. (The New York Times)

What else is worth watching:

• 9 a.m. Brookings hosts a discussion of the book “Secret City: The Hidden History of Gay Washington,” about how homosexuality and homophobia has shaped U.S. foreign policy.
• 10 a.m. Social media executives testify on the national security impacts of the industry on Capitol Hill.
• 8 p.m. Queen Elizabeth II’s coffin proceeds to Westminster Hall.

Globalisation is not dying, it’s changing

Financial Times

The battle behind the UN report on China’s Xinjiang abuses

Yuan Yang and Henry Foy, Financial Times 

Staff at human rights office pushed former high commissioner to release findings despite resistance from Beijing.

Amid Russia’s war, pope says faith cannot justify such evil

Nicole Winfield, The Associated Press 

Against the backdrop of Russia’s invasion of Ukraine, Pope Francis told the Russian Orthodox hierarchy and other faith leaders Wednesday that religion must never be used to justify the “evil” of war and that God must never “be held hostage to the human thirst for power.”

Russian companies shift to yuan as flight from dollar accelerates

Nikkei Asia 

More bond issues and trade conducted in China’s currency, avoiding sanctions.

Xi Jinping Heads to Central Asia in First Foreign Trip Since 2020

Austin Ramzy, The New York Times 

Xi Jinping, who is expected to meet with Vladimir Putin, will seek to project confidence as a global statesman at a time of grave challenges at home.

EU intelligence chief cancels Taiwan trip after Beijing learns his secret plans

Stuart Lau and Jacopo Barigazzi, Politico 

Questions are being raised about how a high-level EU official’s travel plan was leaked to China.

China scrubs starvation reports during Xinjiang virus lockdown

Pak Yiu, Nikkei Asia 

Beijing removes online posts about people eating foliage, lack of medical care.

China’s government is mass-collecting DNA from Tibetans

The Economist 

It doesn’t bother to hide its aim: social control.

Nearly 300m residents caught in China’s latest lockdown wave

Shin Watanabe, Nikkei Asia 

Dalian and Chengdu keep extending restrictions; Xinjiang faces food shortages.

As war began, Putin rejected a Ukraine peace deal recommended by aide

Reuters 

Vladimir Putin’s chief envoy on Ukraine told the Russian leader as the war began that he had struck a provisional deal with Kyiv that would satisfy Russia’s demand that Ukraine stay out of NATO, but Putin rejected it and pressed ahead with his military campaign, according to three people close to the Russian leadership.

Scholz tells Putin to withdraw as Germany faces calls to send Ukraine tanks

Hans von der Burchard, Politico 

German chancellor tells Russian president he must respect ‘the territorial integrity and sovereignty of Ukraine.’

EU chief Von der Leyen to visit Ukraine to stress support

Raf Casert, The Associated Press 

European Union Commission Chief Ursula von der Leyen announced a visit to Kyiv later Wednesday to show the bloc’s support for Ukraine as it fights back against the Russian invasion.

Russian Propaganda Finds a Home in Italian Media Post-Ukraine Invasion

Danielle Pletka, Foreign Policy 

Since the Ukraine invasion, Italy has become a haven for pro-Kremlin disinformation and propaganda.

Ukraine offensive ‘dooms’ Russia’s aims for Donbas

Roman Olearchyk, Financial Times 

Cutting Moscow’s lines of attack from north hands Kyiv the military advantage in the east.

EU embargo to hit Russian oil output, IEA says

Tom Wilson, Financial Times 

International Energy Agency suggests production will fall by 1.9mn barrels a day by February against a year earlier.

Russia’s Military Collapse Provided a ‘Lend-Lease’ for Ukraine

Jack Detsch, Foreign Policy 

Ukraine plans to use Russia’s own armor against it.

Third person arrested in Argentina over attempt to assassinate vice-president

Uki Goñi, The Guardian 

Agustina Díaz was arrested reportedly after a forensic examination of Brenda Uliarte’s phone revealed messages regarding the attack.

US move deepens worries over organised crime in Paraguay

Lucinda Elliott, Financial Times 

Sanctions on top politicians seen as message that Asunción must clean up public life.

In Somalia, al-Shabab’s courts win more converts

Bashir Mohamed Caato, Al Jazeera 

More Somalis are losing faith in the country’s slow judicial process and taking their complaints to the armed group.

As monkeypox drops in the West, still no vaccines for Africa

Maria Cheng and Chinedu Asadu, The Associated Press 

With monkeypox cases subsiding in Europe and parts of North America, many scientists say now is the time to prioritize stopping the virus in Africa.

Neom: Saudi Arabia jails tribesmen for 50 years for rejecting displacement

Dania Akkad and Rayhan Uddin, Middle East Eye 

Sentence comes as authorities reportedly cut water and electricity services, and employ surveillance drones to drive Howeitat tribe out and make way for $500m megacity.

US creates fund to disburse $3.5bn of frozen Afghan bank reserves

James Politi and Benjamin Parker, Financial Times 

Move comes amid growing fears about economy under Taliban rule.

Rising inflation sparks fears of hard landing for US economy

Colby Smith and James Politi, Financial Times 

Increase in consumer prices prompts Wall Street sell-off as investors bet on aggressive Fed response.

Russia’s Gas Cut-Off Is a Short-Term Move

Oleg Korenok and Swapnil Singh, Foreign Policy 

Russia is limiting supply in the hope of a short-term price rise.

South Korea’s President Yoon Could (But Won’t) Be Removed From Office for Lying

Justin Fendos, The Diplomat 

The latest scandal to rock the new administration may be the most serious: a charge that Yoon lied while on the campaign trail, violating South Korea’s public office election law.