• Russian President Vladimir Putin praised Chinese President Xi Jinping for his support during Russia’s invasion of Ukraine and explicitly endorsed China’s aggressive recent actions against Taiwan after their meeting at the Shanghai Cooperation Organization summit in Uzbekistan. (Reuters) It is the first overseas trip Xi has made in nearly three years, and the Chinese president is due to meet with Indian Prime Minister Narendra Modi on Friday as well, following tense border clashes in the Himalayas. (Reuters)
• Armenia and Azerbaijan have reached a cease-fire after two days of violence left at least 155 soldiers dead. Protests erupted in Yerevan as some Armenians accused President Nikol Pashinyan of appeasing Azerbaijan, but with Russia unwilling to come to Armenia’s aid militarily, Pashinyan said he would be willing to cede Armenian territory if it meant a lasting peace. (The Associated Press)
• Ukrainian President Volodymyr Zelenskyy visited the newly liberated city of Izium to get a firsthand look at the destruction left by five months of Russian occupation and speak at a flag-raising ceremony, where he promised to liberate all occupied Ukrainian territory, including Crimea. (CNN) Zelenskyy was later involved in a car accident in Kyiv, but sustained no serious injuries, according to his spokesperson, with the accident now being investigated. (Reuters)
• A right-wing bloc has taken a slim majority in Sweden’s parliament after a surge of support for the far-right Sweden Democrats edged the center-left incumbent party out of power after eight years to become the second-largest individual party in the legislature. Their right-wing coalition now controls parliament by two seats, but analysts expect the Sweden Democrats to clash with their more moderate partners over key social issues. (The New York Times)

What else is worth watching:

• 2 p.m. CSIS hosts a discussion of the newly released Global Estimates of Modern Slavery Report with the authors, and the grim picture of forced labor worldwide. 

• 6 p.m. “America Second” author Isaac Stone Fish speaks about the hidden costs of doing business in China at World Affairs in San Francisco.
• 6:30 p.m. Columbia University hosts a panel on Trump’s strained relationship with the Intelligence Community.

With Charles on the Throne, Many Younger Britons Say It’s Time to Move On From the Monarchy

Morning Consult

Putin to Meet With Xi Jinping Today in Uzbekistan

Austin Ramzy, The New York Times 

President Vladimir V. Putin of Russia is set to meet with Xi Jinping, the leader of China, on Thursday in Uzbekistan, a summit meant to signal the strength of the relationship between the two authoritarian leaders at a time of increasing animosity with the West and challenges to their agendas.

A year on from Aukus, doubts grow about its future as China muscles up

Tory Shepherd, The Guardian 

While some progress has been made, analysts fear China is leaping ahead in capabilities and the defense department doesn’t sense the urgency.

Two-thirds of IAEA board backs Western statement pressuring Iran

Francois Murphy, Reuters 

Two-thirds of the U.N. nuclear watchdog’s 35-nation Board of Governors endorsed a non-binding statement by the United States, Britain, France and Germany on Wednesday pressing Iran to explain why uranium traces were found at three undeclared sites.

US and EU step up pressure on Turkey over Russia sanctions

Henry Foy et al., Financial Times 

Washington to target banks that are integrated into Mir processing system.

Fortress China: Xi Jinping’s plan for economic independence

James Kynge et al., Financial Times 

Beijing wants to become less dependent on the west — and especially on its technology. But how realistic is this self-sufficiency goal in a connected world?

US Senate panel approves $6.5bn bill to fund weapons for Taiwan

Demetri Sevastopulo, Financial Times 

Move marks first time US would directly finance provision of arms to Taipei.

India tells U.S. it is concerned about package for Pakistan F-16 jets 

Tanvi Mehta et al., Reuters 

India is concerned about a U.S. decision to provide a sustenance package for Pakistan’s fleet of F-16 fighter aircraft, the Indian defence minister told his U.S. counterpart on Wednesday.

South Korea ‘reviewing various plans’ to stabilise the won

Song Jung-a, Financial Times 

Finance minister steps up verbal intervention as currency hits 13-year low against the dollar.

China’s state banks cut deposit rates for first time since 2015

Hudson Lockett and Cheng Leng, Financial Times 

Move comes after the world’s second-largest economy slashed benchmark lending rates in August.

EU executive to recommend cutting billions for Hungary – sources

Gabriela Baczynska, Reuters 

The European Union executive will recommend suspending billions of euros earmarked for Hungary over corruption woes, two officials told Reuters on Wednesday, in what would be the first such move against Prime Minister Viktor Orban.

Top European Court Condemns France Over Refusal to Bring Home ISIS Families

Constant Méheut, The New York Times 

Fighters’ families have been held in Kurdish-run camps in Syria for years. The court ruled that France had violated their right to return home when rejecting their requests for repatriation.

Olaf Scholz pressed to send German tanks to Ukraine

Guy Chazan, Financial Times 

Coalition urges chancellor to revise arms policy after Kyiv’s successful counter-offensives.

In Russian Border City of Belgorod, the Ukraine War Feels Real

Valerie Hopkins, The New York Times 

The sounds of nearby explosions have become regular occurrences in Belgorod, 25 miles from the Ukrainian border, and anxious store owners call the police reporting imagined bomb threats, a sign of the paranoia that is starting to spread.

Fearing flooding, Ukrainian officials call for evacuations after Russia damaged a dam.

Jeffrey Gettleman, The New York Times 

A salvo of cruise missiles slammed into the industrial Ukrainian city of Kryvyi Rih on Wednesday, damaging a dam and sending water gushing downstream.

Haiti to raise fuel prices, setting off street protests

Even Sanon, The Associated Press 

Haiti announced steep increases in fuel prices on Wednesday despite fears the move would crush an already frail economy, push even more people to flee the country and unleash the sort of protests that have often paralyzed the capital.

Suriname threatens legal action over South Korean hit Netflix show

Hyonhee Shin, Reuters 

Suriname will explore legal action against the producers of South Korea’s hit Netflix (NFLX.O) series “Narco-Saints” which fosters negative images of the country by portraying it as a “narco state,” its government has said.

U.S. to Move Forward on Military Aid to Egypt Despite Lawmakers’ Concerns

Edward Wong and Vivian Yee, The New York Times 

Senior Democratic lawmakers said the United States should not give $300 million in aid to Egypt until it improves its human rights record, in the latest instance of tensions over Middle East policies.

Egypt Hosts COP27 Climate Change Summit While Undermining Environmental Activists

Robbie Gramer, Foreign Policy 

COP27 will put Biden’s human rights agenda on a collision course with his climate change agenda.

The imminent removal of fuel subsidies will be a strain to Kenyans

Faustine Ngila, Quartz 

For many Kenyans, life was unbearable during former president Uhuru Kenyatta’s reign. But just one day after new president William Ruto’s inauguration, life is about to get more onerous, with the imminent lifting of a fuel subsidy that has kept the price of petrol, diesel and kerosene the lowest in eastern Africa.

Ostracized by the West, Russia Finds a Partner in Saudi Arabia

Clifford Krauss, The New York Times 

The two oil-producing countries have extended their partnership even as the United States and Europe have sought to punish and isolate Russia for invading Ukraine.

US sanctions affiliates of Iran’s IRGC for ‘malicious’ cyber acts

Al Jazeera 

Washington accuses individuals and firms of compromising networks based in the US and other nations since at least 2020.

U.S. senators introduce bill to designate Russia state sponsor of terrorism

Patricia Zengerle, Reuters 

Democratic and Republican U.S. senators introduced legislation on Wednesday that would designate Russia as a state sponsor of terrorism, a label pushed for by Ukraine but opposed by President Joe Biden’s administration.

US shale bosses tell Europe: ‘There’s no bailout coming’

Justin Jacobs et al., Financial Times 

Executives say they cannot increase oil and gas supplies in time to stop winter energy crunch.

Putin’s Fingerprints on Recent Oil and Food Price Shocks

Cullen Hendrix, Foreign Policy 

Russia is a pivotal actor in global markets—and its president is willing to destabilize them for political gain.

China and west should co-operate on emerging market debt

The Editorial Board, Financial Times 

It is in Beijing’s own interests to work with international creditors.