Sign up for our daily briefing

Make your busy days simpler with the Axios AM and PM newsletters. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to the Axios Closer newsletter for insights into the day’s business news and trends and why they matter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios Pro Rata

Dive into the world of dealmakers across VC, PE and M&A with Axios Pro Rata. Delivered daily to your inbox by Dan Primack and Kia Kokalitcheva.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with the Axios Sports newsletter. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with the Axios Des Moines newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with the Axios Tampa Bay newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Nashville news?

Get a daily digest of the most important stories affecting your hometown with the Axios Nashville newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Columbus news?

Get a daily digest of the most important stories affecting your hometown with the Axios Columbus newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Dallas news?

Get a daily digest of the most important stories affecting your hometown with the Axios Dallas newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Austin news?

Get a daily digest of the most important stories affecting your hometown with the Axios Austin newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Atlanta news?

Get a daily digest of the most important stories affecting your hometown with the Axios Atlanta newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Philadelphia news?

Get a daily digest of the most important stories affecting your hometown with the Axios Philadelphia newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Chicago news?

Get a daily digest of the most important stories affecting your hometown with the Axios Chicago newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top DC news?

Get a daily digest of the most important stories affecting your hometown with the Axios DC newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

OSCE Chairman-in-Office Zbigniew Rau said Thursday "the risk of war in the OSCE area is now greater than ever." Photo: Askin Kiyagan/Anadolu Agency via Getty Images

The crisis over Russia's threatening military buildup on the border with Ukraine entered a dangerous and unpredictable new phase in both Vienna and Washington on Thursday.

Driving the news: Russian diplomats said this week's round of security talks from Geneva and Brussels to Vienna have resulted in a "dead end," and it's time for them to return to Moscow to brief President Vladimir Putin on the "very disappointing" state of affairs before deciding the path forward.

  • "It seems the risk of war in the OSCE area is now greater than ever before in the last 30 years," Zbigniew Rau, the Polish chairman of the Organization for Security and Cooperation in Europe, said at the outset of Thursday's meeting in Vienna.
  • Michael Carpenter, the U.S. ambassador to the OSCE, told reporters: "We're facing a crisis in European security. The drumbeat of war is sounding loud and the rhetoric has gotten rather shrill."

At the White House, national security adviser Jake Sullivan told reporters the intelligence community has information that Russia is "laying the groundwork" for a potential pretext to invade Ukraine, such as fabricating a provocation by Ukrainian forces.

  • Sullivan said the administration would share more details with the press over the next 24 hours.

On Capitol Hill, the Senate defeated a bill from Sen. Ted Cruz (R-Texas) to sanction the Putin-backed Nord Stream 2 pipeline. That followed an aggressive lobbying campaign by the Biden administration.

  • The Senate will now take up a Democratic-sponsored package that would trigger a cascade of crushing sanctions — including on Putin himself — if the Biden administration determines Russia has crossed a line on Ukraine.
  • Republicans will push to hold a vote on their own package, which would sanction Nord Stream 2 and provide security assistance to the Ukrainians now — rather than after an invasion.

Between the lines: At issue in the coming fight over sanctions is a fundamental foreign-policy question — is it sanctions that deter bad actors, or the threat of sanctions?

  • "As both the Ukrainians and many of us have been saying, if we want to send a signal of deterrence, we have to act now, not sit on our hands," a senior Republican aide told Axios.
  • Sen. Chris Murphy (D-Conn.) told reporters the U.S. needs to "make clear to Vladimir Putin that the relationship between the United States and Russia will be fundamentally different" if Russia invades Ukraine.

What they're saying: "A conventional invasion of Ukraine shatters post-World War II norms," Murphy said. "It needs to be treated as a serious, significant, world-shattering breach of international norms."

Go deeper

Jan 14, 2022 - World

U.S. accuses Russia of preparing "false flag" operation to attack Ukraine

Photo: Mikhail Svetlov/Getty Images

The U.S. claims to have information indicating that Russia has "already prepositioned a group of operatives to conduct a false-flag operation in eastern Ukraine," laying the groundwork for a potential pretext to invade, according to a U.S. official.

Why it matters: Diplomatic talks between the U.S., its European allies and Russia failed to produce a breakthrough this week, raising fears that Moscow will invade Ukraine and unleash a devastating new war.

Updated Jan 14, 2022 - World

U.S. confirms Russia arrested REvil ransomware hackers

Russian President Vladimir Putin speaking in Moscow in June 2021. Photo: Alexei Nikolsky/TASS via Getty Images

Russia's security agency said Friday it arrested members of the Russia-based cyber gang REvil that was responsible for multiple massive ransomware attacks against U.S. companies last year.

The latest: A senior administration official confirmed on Friday afternoon that Russia informed the U.S. that it arrested the alleged hackers, including an individual responsible for the cyberattack that crippled the Colonial Pipeline.

Why 401(k) rollovers are so annoying

Illustration: Aïda Amer/Axios

If you happened to change jobs recently, you may have tried to transfer your retirement account from your former employer into an Individual Retirement Account or your new employer's 401(k) plan. If so, you probably encountered a bureaucratic gantlet — and you're not alone.

Why it matters: Kludgey processes around retirement account transfers result in people losing track of their funds, giving up important tax advantages, or otherwise disadvantaging themselves and being less prepared for retirement.