IBOV 177,838 ▼ 0.02% IPSA 11,057 ▲ 0.28% IPC MEX 66,496 ▲ 0.59% MERVAL 3,280,224 ▲ 2.43% COLCAP 2,307.67 ▲ 0.65% BVL PERÚ 56,194.27 ▲ 1.29% USD/BRL5.13▲ 0.35% USD/MXN17.47▲ 0.02% USD/CLP926.25▲ 0.15% USD/COP3,237▼ 0.27% USD/PEN3.39▼ 0.07% USD/ARS1,491▲ 0.24% USD/UYU 40.22 — 0.00% USD/PYG6,045▼ 0.17% USD/BOB10.35▲ 2.07% USD/DOP58.37▼ 0.19% USD/CRC448.53▼ 0.06% USD/GTQ7.62▼ 0.10% USD/HNL26.73▲ 0.04% USD/NIO 36.62 — 0.00% USD/VES719.54▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.69▼ 0.25% USD/TTD6.74▼ 0.12% EUR/BRL5.85▲ 0.53% BRENT 78.44 ▲ 3.20% WTI 73.64 ▲ 3.12% IRON ORE 161.91 — — COPPER 6.34 ▲ 1.77% GOLD 4,069 ▼ 0.85% SILVER 58.91 ▼ 1.50% SOY 1,196 ▼ 0.08% CORN 466.50 ▲ 6.51% WHEAT 636.00 ▲ 0.63% COFFEE 337.35 ▼ 1.65% SUGAR 14.75 ▼ 0.87% ORANGE JUICE 142.55 ▼ 3.58% COTTON 82.94 ▲ 3.78% COCOA 5,791 ▼ 2.16% BEEF 231.15 ▼ 1.72% CATTLE 354.78 ▲ 0.05% LITHIUM 70.77 ▼ 2.14% PETR4 40.48 ▲ 2.09% VALE3 73.63 ▼ 0.74% ITUB4 44.32 ▲ 0.05% BBDC4 18.96 ▲ 0.53% ABEV3 15.81 ▼ 0.06% BBAS3 20.56 ▼ 0.10% B3SA3 15.35 ▼ 0.45% WEGE3 45.66 ▼ 1.83% PRIO3 56.15 ▲ 1.26% SUZB3 41.72 ▲ 0.41% RENT3 41.00 ▼ 0.24% AZZA3 18.99 ▼ 0.58% CSAN3 4.05 ▼ 0.49% RAIZ4 0.35 — 0.00% PCAR3 2.69 ▼ 1.47% GMAT3 3.95 ▼ 0.50% PSSA3 54.42 ▼ 1.00% CVCB3 1.25 — 0.00% POSI3 3.94 ▼ 0.76% SLCE3 14.17 ▲ 1.07% NATU3 8.61 ▼ 0.81% BRKM5 6.94 ▲ 4.68% RANI3 8.00 ▼ 0.12% CSNA3 5.29 ▲ 2.12% CMIN3 5.35 ▲ 2.29% USIM5 8.39 ▼ 0.71% GGBR4 23.07 ▲ 0.26% ENEV3 27.47 ▼ 0.29% CPFE3 47.68 ▼ 0.40% CMIG4 11.34 ▼ 0.35% EQTL3 40.77 ▼ 0.34% LREN3 14.44 ▼ 1.23% VIVT3 35.64 ▼ 0.31% RAIL3 14.31 ▼ 0.35% KLABIN 17.61 ▲ 0.40% RAIA DROGASIL 18.65 ▼ 0.64% RDOR3 35.84 ▼ 0.50% HAPV3 10.60 — 0.00% FLRY3 16.50 ▲ 0.49% SMTO3 16.40 ▲ 0.18% UGPA3 31.01 ▲ 0.98% VBBR3 33.34 ▲ 1.03% BBSE3 40.39 ▲ 0.10% BPAC11 58.60 ▼ 0.22% CURY3 33.85 ▼ 1.05% AERI3 2.10 ▲ 0.48% VIVARA 23.54 ▲ 0.04% COMPASS 25.55 ▲ 0.20% VAMOS 3.06 — 0.00% SANB11 27.75 ▲ 0.47% ASAI3 8.81 ▼ 0.68% SBSP3 31.01 ▼ 0.32% WALMEX 49.31 ▲ 0.59% GMEXICO 198.62 ▲ 1.68% FEMSA 223.20 ▲ 0.37% CEMEX 21.82 ▲ 0.51% GFNORTE 186.51 ▲ 0.63% BIMBO 56.06 ▲ 0.23% TELEVISA 9.74 ▲ 2.63% AMX 22.70 ▲ 0.27% GAP 412.01 ▼ 0.41% ASUR 285.12 ▲ 0.53% OMA 235.73 ▼ 0.95% KOF 182.08 ▲ 0.65% GRUMA 282.99 ▲ 0.14% KIMBER 38.13 ▼ 0.81% SQM-B 67,750 ▼ 1.95% COPEC 6,139 ▲ 1.98% BSANTANDER 79.00 ▲ 1.94% FALABELLA 5,905 ▲ 0.92% ENELAM 85.40 ▲ 1.47% CENCOSUD 2,045 ▼ 0.55% CMPC 1,109 ▲ 1.32% BANCO CHILE 188.88 ▲ 1.01% LATAM AIR 26.26 ▼ 0.53% YPF 74,450 ▼ 1.75% GGAL 8,350 ▲ 5.96% PAMPA 5,185 ▼ 0.38% TXAR 671.00 ▲ 0.98% ALUAR 978.00 ▲ 0.98% TGS 9,610 ▲ 3.22% CEPU 2,405 ▲ 3.89% MIRGOR 17,375 ▲ 1.02% COME 45.90 ▲ 1.06% LOMA NEGRA 3,583 ▲ 2.43% BYMA 314.00 ▲ 1.37% TELECOM ARG 4,248 ▲ 3.09% ECOPETROL 15.59 ▲ 1.27% BANCOLOMBIA 82.95 ▲ 2.50% GRUPO AVAL 5.08 ▲ 1.20% CREDICORP 400.81 ▲ 2.27% SOUTHERN COPPER 175.83 ▲ 0.80% BUENAVENTURA 30.00 ▲ 1.52% MERCADOLIBRE 1,852 ▲ 2.46% NUBANK 13.76 ▲ 0.66% XP 16.92 ▲ 3.11% PAGSEGURO 9.25 ▲ 2.78% STONE 11.21 ▲ 2.28% GLOBANT 29.96 ▼ 4.25% TECNOGLASS 43.90 ▲ 1.76% GAP AIRPORT 235.64 ▲ 0.50% ASUR 285.12 ▲ 0.53% OMA AIRPORT 108.09 ▼ 0.22% AMX ADR 26.04 ▲ 0.77% FEMSA ADR 127.70 ▲ 0.55% CEMEX ADR 12.48 ▲ 0.89% PETROBRAS ADR 17.32 ▲ 1.70% VALE ADR 14.46 ▲ 1.69% ITAU ADR 8.62 ▲ 4.11% SANTANDER BR 5.39 ▲ 4.86% AMBEV ADR 3.07 ▲ 0.99% CSN 1.01 ▲ 5.79% GERDAU 4.50 ▲ 2.04% LATAM ADR 56.45 ▼ 1.03% BTC 62,516 ▼ 1.95% ETH 1,771 ▼ 1.93% SOL 75.58 ▼ 1.68% XRP 1.07 ▼ 1.50% BNB 568.30 ▼ 0.98% ADA 0.16 ▼ 2.32% DOGE 0.07 ▼ 0.71% AVAX 6.63 ▲ 3.56% LINK 7.91 ▼ 0.99% DOT 0.83 ▼ 1.68% LTC 43.39 ▼ 1.32% BCH 238.92 ▼ 0.43% TRX 0.33 ▼ 1.54% XLM 0.18 ▼ 1.86% HBAR 0.07 ▼ 0.85% NEAR 1.91 ▲ 1.02% ATOM 1.54 ▼ 1.67% AAVE 94.68 ▼ 2.45% SELIC 14.25% EMBRAER 83.75 ▼ 1.00% EMBRAER ADR 66.01 ▲ 0.72% JBS 11.91 ▲ 1.53% JBS BDR 60.53 ▼ 0.41% MBRF3 15.29 ▼ 1.67% MBRFY 2.97 ▼ 1.00% INTER 5.82 ▲ 1.93% EGX 52,608 ▲ 0.67% USD/ZAR16.36▲ 0.20% USD/NGN1,378▼ 0.05% NIKKEI 67,243 ▼ 1.92% CSI300 4,695 ▼ 1.79% HSI 24,214 ▲ 0.16% NIFTY 24,211 ▲ 0.02% KOSPI 6,807 ▼ 8.95% JCI 6,038 ▲ 1.92% USD/JPY162.17▲ 0.28% USD/CNY6.77▼ 0.18% DAX 25,105 ▲ 0.15% CAC 8,348 ▲ 0.11% FTSE 10,484 ▼ 0.12% MIB 52,754 ▲ 0.26% IBEX 19,389 ▲ 0.02% STOXX 640.42 ▼ 0.11% EUR/USD1.14▲ 0.22% GBP/USD1.34▲ 0.01% SPX 7,551 ▼ 0.33% DJI 52,591 ▼ 0.09% NDX 29,825 ▲ 0.33% RUT 2,978 ▼ 0.49% TSX 35,287 ▼ 0.05% VIX 16.37 ▲ 8.92% USD/CAD1.41▼ 0.13% US10Y 4.5810 ▲ 0.26% IBOV 177,838 ▼ 0.02% IPSA 11,057 ▲ 0.28% IPC MEX 66,496 ▲ 0.59% MERVAL 3,280,224 ▲ 2.43% COLCAP 2,307.67 ▲ 0.65% BVL PERÚ 56,194.27 ▲ 1.29% USD/BRL 5.13 ▲ 0.35% USD/MXN 17.47 ▲ 0.02% USD/CLP 926.25 ▲ 0.15% USD/COP 3,237 ▼ 0.27% USD/PEN 3.39 ▼ 0.07% USD/ARS 1,491 ▲ 0.24% USD/UYU 40.22 — 0.00% USD/PYG 6,045 ▼ 0.17% USD/BOB 10.35 ▲ 2.07% USD/DOP 58.37 ▼ 0.19% USD/CRC 448.53 ▼ 0.06% USD/GTQ 7.62 ▼ 0.10% USD/HNL 26.73 ▲ 0.04% USD/NIO 36.62 — 0.00% USD/VES 719.54 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.69 ▲ 0.15% USD/TTD 6.74 ▲ 1.31% EUR/BRL 5.85 ▲ 0.53% BRENT 78.44 ▲ 3.20% WTI 73.64 ▲ 3.12% IRON ORE 161.91 — — COPPER 6.34 ▲ 1.77% GOLD 4,069 ▼ 0.85% SILVER 58.91 ▼ 1.50% SOY 1,196 ▼ 0.08% CORN 466.50 ▲ 6.51% WHEAT 636.00 ▲ 0.63% COFFEE 337.35 ▼ 1.65% SUGAR 14.75 ▼ 0.87% ORANGE JUICE 142.55 ▼ 3.58% COTTON 82.94 ▲ 3.78% COCOA 5,791 ▼ 2.16% BEEF 231.15 ▼ 1.72% CATTLE 354.78 ▲ 0.05% LITHIUM 70.77 ▼ 2.14% PETR4 40.48 ▲ 2.09% VALE3 73.63 ▼ 0.74% ITUB4 44.32 ▲ 0.05% BBDC4 18.96 ▲ 0.53% ABEV3 15.81 ▼ 0.06% BBAS3 20.56 ▼ 0.10% B3SA3 15.35 ▼ 0.45% WEGE3 45.66 ▼ 1.83% PRIO3 56.15 ▲ 1.26% SUZB3 41.72 ▲ 0.41% RENT3 41.00 ▼ 0.24% AZZA3 18.99 ▼ 0.58% CSAN3 4.05 ▼ 0.49% RAIZ4 0.35 — 0.00% PCAR3 2.69 ▼ 1.47% GMAT3 3.95 ▼ 0.50% PSSA3 54.42 ▼ 1.00% CVCB3 1.25 — 0.00% POSI3 3.94 ▼ 0.76% SLCE3 14.17 ▲ 1.07% NATU3 8.61 ▼ 0.81% BRKM5 6.94 ▲ 4.68% RANI3 8.00 ▼ 0.12% CSNA3 5.29 ▲ 2.12% CMIN3 5.35 ▲ 2.29% USIM5 8.39 ▼ 0.71% GGBR4 23.07 ▲ 0.26% ENEV3 27.47 ▼ 0.29% CPFE3 47.68 ▼ 0.40% CMIG4 11.34 ▼ 0.35% EQTL3 40.77 ▼ 0.34% LREN3 14.44 ▼ 1.23% VIVT3 35.64 ▼ 0.31% RAIL3 14.31 ▼ 0.35% KLABIN 17.61 ▲ 0.40% RAIA DROGASIL 18.65 ▼ 0.64% RDOR3 35.84 ▼ 0.50% HAPV3 10.60 — 0.00% FLRY3 16.50 ▲ 0.49% SMTO3 16.40 ▲ 0.18% UGPA3 31.01 ▲ 0.98% VBBR3 33.34 ▲ 1.03% BBSE3 40.39 ▲ 0.10% BPAC11 58.60 ▼ 0.22% CURY3 33.85 ▼ 1.05% AERI3 2.10 ▲ 0.48% VIVARA 23.54 ▲ 0.04% COMPASS 25.55 ▲ 0.20% VAMOS 3.06 — 0.00% SANB11 27.75 ▲ 0.47% ASAI3 8.81 ▼ 0.68% SBSP3 31.01 ▼ 0.32% WALMEX 49.31 ▲ 0.59% GMEXICO 198.62 ▲ 1.68% FEMSA 223.20 ▲ 0.37% CEMEX 21.82 ▲ 0.51% GFNORTE 186.51 ▲ 0.63% BIMBO 56.06 ▲ 0.23% TELEVISA 9.74 ▲ 2.63% AMX 22.70 ▲ 0.27% GAP 412.01 ▼ 0.41% ASUR 285.12 ▲ 0.53% OMA 235.73 ▼ 0.95% KOF 182.08 ▲ 0.65% GRUMA 282.99 ▲ 0.14% KIMBER 38.13 ▼ 0.81% SQM-B 67,750 ▼ 1.95% COPEC 6,139 ▲ 1.98% BSANTANDER 79.00 ▲ 1.94% FALABELLA 5,905 ▲ 0.92% ENELAM 85.40 ▲ 1.47% CENCOSUD 2,045 ▼ 0.55% CMPC 1,109 ▲ 1.32% BANCO CHILE 188.88 ▲ 1.01% LATAM AIR 26.26 ▼ 0.53% YPF 74,450 ▼ 1.75% GGAL 8,350 ▲ 5.96% PAMPA 5,185 ▼ 0.38% TXAR 671.00 ▲ 0.98% ALUAR 978.00 ▲ 0.98% TGS 9,610 ▲ 3.22% CEPU 2,405 ▲ 3.89% MIRGOR 17,375 ▲ 1.02% COME 45.90 ▲ 1.06% LOMA NEGRA 3,583 ▲ 2.43% BYMA 314.00 ▲ 1.37% TELECOM ARG 4,248 ▲ 3.09% ECOPETROL 15.59 ▲ 1.27% BANCOLOMBIA 82.95 ▲ 2.50% GRUPO AVAL 5.08 ▲ 1.20% CREDICORP 400.81 ▲ 2.27% SOUTHERN COPPER 175.83 ▲ 0.80% BUENAVENTURA 30.00 ▲ 1.52% MERCADOLIBRE 1,852 ▲ 2.46% NUBANK 13.76 ▲ 0.66% XP 16.92 ▲ 3.11% PAGSEGURO 9.25 ▲ 2.78% STONE 11.21 ▲ 2.28% GLOBANT 29.96 ▼ 4.25% TECNOGLASS 43.90 ▲ 1.76% GAP AIRPORT 235.64 ▲ 0.50% ASUR 285.12 ▲ 0.53% OMA AIRPORT 108.09 ▼ 0.22% AMX ADR 26.04 ▲ 0.77% FEMSA ADR 127.70 ▲ 0.55% CEMEX ADR 12.48 ▲ 0.89% PETROBRAS ADR 17.32 ▲ 1.70% VALE ADR 14.46 ▲ 1.69% ITAU ADR 8.62 ▲ 4.11% SANTANDER BR 5.39 ▲ 4.86% AMBEV ADR 3.07 ▲ 0.99% CSN 1.01 ▲ 5.79% GERDAU 4.50 ▲ 2.04% LATAM ADR 56.45 ▼ 1.03% BTC 62,516 ▼ 1.95% ETH 1,771 ▼ 1.93% SOL 75.58 ▼ 1.68% XRP 1.07 ▼ 1.50% BNB 568.30 ▼ 0.98% ADA 0.16 ▼ 2.32% DOGE 0.07 ▼ 0.71% AVAX 6.63 ▲ 3.56% LINK 7.91 ▼ 0.99% DOT 0.83 ▼ 1.68% LTC 43.39 ▼ 1.32% BCH 238.92 ▼ 0.43% TRX 0.33 ▼ 1.54% XLM 0.18 ▼ 1.86% HBAR 0.07 ▼ 0.85% NEAR 1.91 ▲ 1.02% ATOM 1.54 ▼ 1.67% AAVE 94.68 ▼ 2.45% SELIC 14.25% EMBRAER 83.75 ▼ 1.00% EMBRAER ADR 66.01 ▲ 0.72% JBS 11.91 ▲ 1.53% JBS BDR 60.53 ▼ 0.41% MBRF3 15.29 ▼ 1.67% MBRFY 2.97 ▼ 1.00% INTER 5.82 ▲ 1.93% EGX 52,608 ▲ 0.67% USD/ZAR 16.35 ▲ 0.05% USD/NGN 1,378 ▲ 0.15% NIKKEI 67,243 ▼ 1.92% CSI300 4,695 ▼ 1.79% HSI 24,214 ▲ 0.16% NIFTY 24,211 ▲ 0.02% KOSPI 6,807 ▼ 8.95% JCI 6,038 ▲ 1.92% USD/JPY 162.13 ▲ 0.28% USD/CNY 6.7651 ▼ 0.02% DAX 25,105 ▲ 0.15% CAC 8,348 ▲ 0.11% FTSE 10,484 ▼ 0.12% MIB 52,754 ▲ 0.26% IBEX 19,389 ▲ 0.02% STOXX 640.42 ▼ 0.11% EUR/USD 1.1427 ▲ 0.07% GBP/USD 1.3394 ▼ 0.03% SPX 7,551 ▼ 0.33% DJI 52,591 ▼ 0.09% NDX 29,825 ▲ 0.33% RUT 2,978 ▼ 0.49% TSX 35,287 ▼ 0.05% VIX 16.37 ▲ 8.92% USD/CAD 1.4141 ▼ 0.08% US10Y 4.5810 ▲ 0.26%
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Monday, July 13, 2026

Will Zelensky fulfill Warsaw’s dream of Greater Poland and divide Ukraine?

By · May 24, 2022 · 2 min read

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RIO DE JANEIRO, BRAZIL – The western Ukrainians want to join the EU and NATO. Both are currently impossible for decades. But “reunification” of Poland with the now Ukrainian former Polish territories would be a shortcut.

It is widely known that Polish nationalists, in particular, dream of a “Greater Poland” that includes more German territories (including Berlin) and the historically Polish territories in Ukraine.

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An ideology shared by many representatives of the ruling PiS in Warsaw. With the Ukraine conflict, the dream of territorial expansion, at least with regard to the former Polish eastern territories, could be within reach.

Thomas Röper of the “Anti-Spiegel” newspaper has drawn attention to current developments in this regard in a recent report. Among other things, he refers to the statement of the Polish president at the beginning of May, according to which “there will no longer be a border between our countries, Poland and Ukraine.”

Both peoples would “live together on this land.” As a result, on May 23, Zelensky announced to the Ukrainian parliament (after his Polish counterpart gave a speech there) that he would immediately introduce a bill granting special rights to Polish citizens in Ukraine and de facto abolishing the state border between the two countries.

To implement this step, the Ukrainian leadership would have to recognize the loss of the south and east of the country—quasi partition. The eastern and southern parts of Ukraine would then become a Russian client state (unless these areas simply join the Russian Federation), while the regions from Lviv to Kiev would simply join Poland.

For the pro-Western forces in western Ukraine, this would probably be the easiest and fastest way to become part of the EU and NATO. After all, as even CNN noted in 2014, Ukraine is a divided country.

Before the Maidan coup, the southern and eastern parts consistently voted for pro-Russian presidents and parties, while the northern and western parts voted for pro-Western ones. Such a division would end domestic tensions and arguably allow for a peaceful resolution of the conflict.

The problem with this: who will pay for it? The Ukrainian infrastructure is dilapidated and would first have to be brought up to a level that at least meets minimum European standards with tens of billions of euros in subsidies.

The bottom line is that the remaining EU states would have to pay for this with higher EU contributions. But in the end, this would probably be a win-win situation for the Poles (territorial increase), the western Ukrainians (EU and NATO membership in one fell swoop), the eastern Ukrainians (peace at last), and Russia (protection for the Russians in southern and eastern Ukraine).

Pragmatists might also say that in the end, it is probably better for Europeans to pay more via infrastructure aid than via high electricity, natural gas, fuel, and food prices driven by Western sanctions against Russia.

 

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