A very long list

[Bloomberg]( Follow Us [Get the newsletter]( Global leaders will spend a lot of time today talking with each other. Not only are Group of Seven leaders chatting virtually – the first group call with U.S. President Joe Biden – but several of them are speaking at a meeting of the Munich Security Conference on transatlantic ties and common security challenges. The overarching public message will be the U.S. is welcome at the table via Biden’s commitment to [collaborate]( on fighting the pandemic and climate change. Expect warm words about managing both shared interests and shared problems. There’ll be a focus in particular on Iran after the U.S. said yesterday it was willing to join a group meeting with Tehran on its nuclear program. That opens the door a [crack](, even with Iran saying the U.S. must first provide sanctions relief. But behind the scenes things are much more complex. There remain doubts about the future role of America’s leadership, a wariness about automatically falling in line behind Biden on policies (including [how hard]( a line to take on China). There are frictions over trade and tech regulation. Donald Trump’s periodic attacks on allies left scars. Equally, Americans are in [no mood]( to support an expansive foreign policy (especially money or troops), so Biden will need to hew somewhat to Trump on other countries carrying more of the load. Rejoining the Iran nuclear [accord]( is unpopular on both sides of the U.S. political aisle. That adds up to a lot of needle threading for everyone on the calls today. — [Rosalind Mathieson]( Iranians burned American flags in Tehran in 2018 after Trump pulled out of the 2015 deal that put limits on Iran’s nuclear program in exchange for rapprochement with the West. Photographer: Ali Mohammadi/Bloomberg Click [here]( for this week’s most compelling political images and tell us how we’re doing or what we’re missing at balancepower@bloomberg.net. Global Headlines [Helping out]( | Prime Minister Boris Johnson plans to announce the U.K. will donate surplus coronavirus vaccines to developing countries, joining a commitment by French President Emmanuel Macron. The expected statement from the G-7 call today would signal a more coordinated effort by the world’s advanced economies to address the pandemic and help countries least equipped to cope. - U.S. vaccine supply is poised to [double]( in the coming weeks and months, according to a Bloomberg analysis. [Economic fallout]( | As the blackouts that plunged Texas into chaos during a historic cold blast ease, the impact on the state’s oil production will endure, with almost 40% of U.S. crude production offline. Governor Greg Abbott, who’s restricted the flow of natural gas across state lines, yesterday slammed the electricity grid manager and called for mandatory winter-proofing of power plants. - Republican Senator Ted Cruz returned home after coming under fire for [fleeing]( Texas to take his family to the Mexican resort of Cancun. He said he made the trip because his daughters were “cold” but that “in hindsight I wouldn’t have done it.” [Treading carefully]( | The U.S. is likely to hold off sanctioning any German entities for now over the Nord Stream 2 gas pipeline from Russia as the Biden administration seeks to halt the project without antagonizing a close European ally, [Nick Wadhams]( and [Vanessa Dezem]( write. A key report to Congress is expected to list only a small number of Russia-linked bodies. A truck transports a section of pipework through the yard at the Gazprom Slavyanskaya compressor station, the starting point of the Nord Stream 2 gas pipeline, in Ust-Luga, Russia, on Jan. 28. Photographer: Andrey Rudakov/Bloomberg [First casualty]( | A 20-year-old student shot in the head in Myanmar last week has become the first known fatality in demonstrations against the Feb. 1 coup. Mya Thwe Thwe Khine’s death comes as protesters swell into the hundreds of thousands. [Missed target]( | When the Tokyo Olympic Organizing Committee chose former athlete Seiko Hashimoto as its new boss, Japan’s government scrambled to find another woman to take over her two cabinet positions. While it eventually named Tamayo Marukawa to replace her, [Isabel Reynolds]( explains the episode highlights how women are underrepresented in top management posts. What to Watch - Brazil became the third country to breach [10 million]( coronavirus cases, with infections picking up speed as a new variant spreads amid a shortage of vaccines. - Italy’s new prime minister, Mario Draghi, will start to tackle the nation’s economic crisis and fight against the pandemic after winning cross-party [support]( for his government's priorities in parliament. - Australia will hold [talks]( with Facebook Chief Executive Officer Mark Zuckerberg after the tech giant’s dramatic move to block Australian news sharing escalated a broader battle against global regulation. - Uber [lost]( a U.K. Supreme Court ruling over the rights of its drivers, in a landmark decision that threatens the company’s business model in the country and may set a legal precedent for other gig workers. - China may ban the export of [rare-earths]( refining technology to countries or companies it deems a threat to state security and is exploring sanctions on firms including Lockheed Martin. Pop quiz, readers (no cheating!). Which country asked Pfizer to back a study on its vaccine’s ability to create herd immunity but was turned down because it did too good a job of keeping Covid-19 in check? Send your answers to balancepower@bloomberg.net. [And finally]( ... NASA successfully landed its largest and most sophisticated science rover on Mars, as the Perseverance spacecraft touched down in an ancient river delta that may contain signs of whether the planet ever harbored microbial life. After traveling 292 million miles from Earth, the 10-foot-long vehicle — equipped with its own drone helicopter — flew autonomously in the final phase of its descent, scanning the terrain for the safest landing spot. The $2.7 billion rover is expected to operate for at least two years. Perseverance Rover’s first image from Mars on Feb. 18. Source: NASA/JPL-Caltech   Like Balance of Power? [Get unlimited access to Bloomberg.com](, where you'll find trusted, data-based journalism in 120 countries around the world and expert analysis from exclusive daily newsletters.  You received this message because you are subscribed to Bloomberg's Balance of Power newsletter. [Unsubscribe]( | [Bloomberg.com]( | [Contact Us]( Bloomberg L.P. 731 Lexington, New York, NY, 10022