Timothy Ash writes from London:

Timothy Ash writes from London: “With recent moves against the reform team at the NBU, the US Government might have reached the conclusion that if they don’t move now, then the risk is the whole domestically driven legal push on Privatbank collapses, and with it I guess hopes for sustaining the 2015-17 bank reforms and bank clean up program…things are now moving so fast in Ukraine from the forces acting against banking reform et al, that the US decided that it might be game over by the time Biden assumes the presidency in February.”