What We're Watching: Pelosi in Kyiv, Indian scorcher, Modi tours Europe

What We're Watching: Pelosi in Kyiv, Indian scorcher, Modi tours Europe
US House Speaker Nancy Pelosi meets Ukraine's President Volodymyr Zelensky in Kyiv.
EYEPRESS via Reuters Connect

Pelosi visits Ukraine — will Biden go next?

Over the weekend, House Speaker Nancy Pelosi became the highest-level US official to visit Ukraine since Russia launched its invasion. Pelosi met with President Volodymyr Zelensky on Sunday amid growing pressure from Kyiv for President Joe Biden to travel to the country, which Zelensky feels would be a symbolic show of US support for Ukraine. Biden has so far been non-committal, but Pelosi's trip is arguably more significant at this time, given that Biden wants the US Congress to approve $33 billion in additional aid for Ukraine. Meanwhile, a long-awaited operation was underway to evacuate 100,000 people trapped in a steel plant in Mariupol, the only part of the besieged Ukrainian port city not yet occupied by the Russians. The UN is coordinating safe passage with the Red Cross for the evacuees to reach Zaporizhzhia.

India on fire

For weeks, vast swaths of northwest India — along with parts of neighboring Bangladesh and Pakistan — have been suffering a record-breaking "heat dome" that pushed surface temperatures beyond a blistering 60 C (140 F) on Saturday. On top of putting hundreds of millions at risk of death from extreme heat and fires, the prolonged scorcher has worsened an already acute shortage of coal due to high global prices and the war in Ukraine. This is a big problem because most Indian cities rely on coal-burning plants to generate electricity, which could mean power cuts for hospitals, offices, and factories. What's more, the heatwave has forced farmers to harvest crops early, throwing a wrench into India's plans to export more wheat to make up for the shortfall in production from Russia and Ukraine. So, what'll PM Narendra Modi do about it? Keep reading ...

Modi goes to Europe

On Monday, Narendra Modi is kicking off visits to Germany, Denmark, and France, where he will meet with German Chancellor Olaf Scholz and French President Emmanuel Macron. The main agenda item? Making progress on a proposed EU-India free trade agreement, one of several FTAs that Modi wants to secure to attract foreign investment to help the Indian economy recover from the pandemic. But the elephant in the room will be India's neutrality on the Russian war in Ukraine and recent moves to buy cheap Russian oil despite sanctions – policies at odds with EU unity against Russia and long-term plans to wean the continent off Russian energy. Still, don’t expect the Europeans to put too much pressure on the Indians on such a prickly issue.

More from GZERO Media

As the macro landscape evolves and new market dynamics emerge, corporations and investors must understand the trends driving capital allocation, sector shifts, and emerging opportunities to position themselves for success. While there is growing optimism in the market, critical questions persist about geopolitical risks, the impact of tariffs and trade policies, the long-term outlook for the USD, and how to interpret the economic narratives and structural changes likely to shape the immediate future. Get insights from RBC Capital Markets experts on the economy, markets, and deal activity.

Former (and incoming) President Donald Trump and Ukraine's President Volodymyr Zelenskiy meet at Trump Tower in New York City, on Sept. 27, 2024.
REUTERS/Shannon Stapleton

President-elect Donald Trump promised on the campaign trail to end the war in Ukraine “on Day One” of his administration. His supporters have long argued Trump should be taken seriously but not literally, and his team has since rolled back that expectation and insists on a 100-day ceasefire timeline instead.

FILE PHOTO: Children eat bread on a street near a flag adopted by the new Syrian rulers, after the ousting of Syria's Bashar al-Assad, in Damascus, Syria, December 24, 2024.
REUTERS/Amr Abdallah Dalsh/File Photo

Diplomats and foreign ministers from 17 Arab and EU states convened in Riyadh, Saudi Arabia, on Sunday to discuss the lifting of economic sanctions on Syria, originally imposed during the rule of ousted president Bashar al-Assad.

Photos published by Ukraine President Volodymyr Zelenskyy on Jan 11, 2025 shows two North Korean military personnel captured by Ukraine forces soldiers in the Kursk region. Two soldiers, though wounded, survived and were transported to Kyiv, where they are now communicating with the Security Service of Ukraine, Zelenskyy said. This was not an easy task: Russian forces and other North Korean military personnel usually execute their wounded to erase any evidence of North Korea’s involvement in the war against Ukraine, he said. I am grateful to the soldiers of Tactical Group No. 84 of the Special Operations Forces of the Armed Forces of Ukraine, as well as our paratroopers, who captured these two individuals.
(Ukraine Military handout via EYEPRESS) via Reuters

Ukrainian President Volodymyr Zelensky announced Saturday that his troops had captured two North Korean soldiers in the Kursk region and released a video of them describing their experience fighting for Russia.

LOS ANGELES, CA - JANUARY 07: A wind-driven fire burns on January 7, 2025 in Los Angeles, California. Santa Ana wind is fueling wildfires in Los Angeles that have destroyed homes and forced the evacuation of thousands of people.
(Photo by Qian Weizhong/VCG ) via Reuters

As California’s most destructive wildfires continue to blaze across Los Angeles County, having killed 16 and displaced more than 166,000 residents, emergency response efforts have become politicized, both at home and abroad.

A person holds a placard on the day justices hear oral arguments in a bid by TikTok and its China-based parent company, ByteDance, to block a law intended to force the sale of the short-video app by Jan. 19 or face a ban on national security grounds, outside the U.S. Supreme Court, in Washington, U.S., January 10, 2025.
REUTERS/Marko Djurica

On Friday, the Supreme Court appeared poised to uphold the TikTok ban, largely dismissing the app’s argument that it should be able to exist in the US under the First Amendment’s free speech protections and favoring the government's concerns that it poses a national security threat.

Listen: On the GZERO World Podcast, we’re taking a look at some of the top geopolitical risks of 2025. This looks to be the year that the G-Zero wins. We’ve been living with this lack of international leadership for nearly a decade now. But in 2025, the problem will get a lot worse. We are heading back to the law of the jungle. A world where the strongest do what they can while the weakest are condemned to suffer what they must. Joining Ian Bremmer to peer into this cloudy crystal ball is renowned Stanford political scientist Francis Fukuyama.