0735GMT//Putin cancels missile agreement with the US; Moscow Stock Exchange falls; Lukoil to sell overseas assets

PUTIN CANCELS MISSILE AGREEMENT: Vladimir Putin on Monday cancelled Russia's agreement with the US to dispose of Cold War-era stockpiles of nuclear missiles. The Plutonium Management and Disposition Agreement was signed in 2000, although Putin suspended Russia's participation in the agreement in 2016 when relations soured with then-US President Barack Obama. (COMMENT: Cancelling this missile deal is largely performative, although it does also highlight how strained ties are between Russia and the US.)

TRUMP DISAPPOINTED WITH PUTIN: Donald Trump said that he was disappointed that Putin had unveiled yet another nuclear-capable missile on Sunday and said that rather than threatening the West, he should be ending the war in Ukraine. "That's what he should be doing, not testing missiles," Trump said. (COMMENT: This is another indicator of just how strained Trump-Putin ties have gotten since the collapse of potential talks in Budapest last week.)

LUKOIL TO SELL ASSETS: Lukoil, Russia's second biggest energy company, said on Monday that it will sell its overseas assets after the US slapped sanctions on it. Lukoil's largest foreign asset is Iraq's West Qurna 2 oil field. This is one of the world's largest oil fields. Lukoil owns a 75% stake. (COMMENT: US sanctions on Lukoil and Rosneft are a major blow to Putin, who had heavily relied on them to pull in much-needed cash. Not only that, but Rosneft and Lukoil unofficially represented Russia itself around the world. This presence will now disappear or be reduced, hitting Russian prestige. The consequences of US sanctions on Lukoil and Rosneft are significant.)

MOSCOW STOCK MARKET FALLS: The Moscow Stock Exchange lost another 3.2% of its value on Monday, following a loss of 6.5% last week, after Putin's envoy to talks with the US appeared to return without making any noticeable progress. (COMMENT: Russia's stock market is sensitive to how talks with the US progress. Clearly, investors judged Kirill Dmitriev's trip to the US as a failure.)

RUSSIA LURING AFRICANS INTO ITS ARMY: Kenya on Monday accused Russia of "luring" its nationals into fighting for the Russian Army in Ukraine. It said that Russian agents "use unscrupulous methods including falsified information to lure innocent Kenyans into the battlefield.". (COMMENT: Although Kenyan officials didn't give numbers, just going public with their criticism is a major step. Russia has tried to develop ties with Africa, so this is a setback for the Kremlin. South Africa has also previously accused Russia of luring young women to Russia on the false pretext of a decent job, only for hundreds of them to end up making drones for Russia's military.)