Russia Ukraine Crisis Highlights | Vladimir Putin recognises Ukraine separatist regions, sends troops on what Moscow calls peacekeeping mission
Russian President Vladimir Putin recognised two breakaway regions in eastern Ukraine as independent on Monday and ordered the Russian army to launch what Moscow called a peacekeeping operation into the area, accelerating a crisis the West fears could unleash a major war.
Putin told Russia's defence ministry to deploy troops into the two regions to "keep the peace" in a decree issued shortly after announcing recognition for Russian-backed separatists there, drawing U.S. and European condemnation and vows of new sanctions.
It was not immediately clear whether the Russian military action would be regarded by the West as the start of an invasion of Ukraine that the United States and its allies have warned about for weeks since the area was already controlled by Russian-backed separatists and Moscow in practice.
There was no word on the size of the force Putin was dispatching, but the decree said Russia now had the right to build military bases in the breakaway regions and that troops' mission would be to uphold the peace.
In a lengthy televised address packed with grievances against the West, Putin, looking visibly angry, described Ukraine as an integral part of Russia's history and said eastern Ukraine was ancient Russian lands and that he was confident the Russian people would support his decision.
Russian state television showed Putin, joined by Russia-backed separatist leaders, signing a decree recognising the independence of the two Ukrainian breakaway regions -- the self-proclaimed Donetsk People's Republic and the Lugansk People's Republic - along with agreements on cooperation and friendship.
Defying Western warnings against such a move, Putin had announced his decision in phone calls to the leaders of Germany and France earlier, both of whom voiced disappointment, the Kremlin said.
Moscow's action may well torpedo a last-minute bid for a summit with U.S. President Joe Biden to prevent Russia from invading Ukraine. The rouble extended its losses as Putin spoke, at one point sliding beyond 80 per dollar.
Biden will issue an executive order soon prohibiting "new investment, trade, and financing by U.S. persons to, from, or in" the two breakaway regions, the White House said. It will "also provide authority to impose sanctions on any person determined to operate in those areas of Ukraine," White House spokesperson Jen Psaki said in a statement.
Psaki said measures being rolled out in response to Putin's decree were separate from sanctions the United States and its allies have been readying if Russia invades Ukraine.
U.S. Secretary of State Antony Blinken said the executive order "is designed to prevent Russia from profiting off of this blatant violation of international law."
The U.N. Security Council will meet publicly on Ukraine at 9 p.m. EST Monday (0200 GMT on Tuesday), a Russian diplomat said, following a request by the United States, the United Kingdom and France.
Dutch Prime Minister Mark Rutte said European Union countries have agreed to impose a limited set of sanctions "targeting those who are responsible" for Russia's recognition of the rebel regions.
British foreign minister Liz Truss said in a Twitter post that on Tuesday the government will announce new sanctions on Russia in response to Putin's decision.
NATO Secretary-General Jens Stoltenberg accused Russia of continuing to fuel the conflict in eastern Ukraine and "trying to stage a pretext" for a further invasion. Russia annexed Crimea from Ukraine in 2014.
In his address, Putin delved into history as far back as the Ottoman empire and as recent as the tensions over NATO's eastward expansion - a major irritant for Moscow in the present crisis.
With his decision, Putin brushed off Western warnings that such a step would be illegal, kill off peace negotiations and trigger sanctions.
"I deem it necessary to make a decision that should have been made a long time ago - to immediately recognise the independence and sovereignty of the Donetsk People's Republic and the Lugansk People's Republic," Putin said.
He said earlier that "if Ukraine was to join NATO it would serve as a direct threat to the security of Russia."
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Russia-Ukraine Conflict LIVE Updates | EU members agree on sanctions targeting Moscow, says French foreign minister
France's foreign minister says European Union nations unanimously agreed on a set of sanctions over the Ukraine crisis, Associated Press reported. According to reports, the sanctions will target the Russian lawmakers who have supported the contentious decision to recognise two pro-Russia Ukraine regions as 'independent' entitites.Earlier, Britain announced a seperate set of sanctions targeting Moscow's financial institutions.
Russia Ukraine Conflict LIVE Updates | Dollar dips in choppy trade caused by Ukraine uncertainty
The USdollar was slightly lower against a basket of major currencies on Tuesday in choppy trade, getting whipsawed by developments in Ukraine a day after Russian President Vladimir Putin recognized two breakaway regions in the country and ordered troops to the area.
The euro rose versus the dollar, after earlier touching its lowest level since Feb. 14, buoyed in part by the hope for talks and economic data that showed business morale in Germany improved in February across all sectors to its highest since August.
The dollar index fell 0.134%, with the euro up 0.21% to $1.1334.
"Putin is running the show here, but the markets are not responding as if they are really fearful that what happened is an irredeemable escalation that is going to end up with the kind of sanctions that wreck economies, or at least will wreck the global recovery," said Joseph Trevisani, senior analyst at FXStreet.com in New York. (Reuters)
Russia Ukraine Crisis LIVE Updates | Rajasthan govt, in coordination with Centre, will help students from state return from Ukraine: CM
In view of the situation in Ukraine, Chief Minister Ashok Gehlot said on Tuesday that the Rajasthan government, in coordination with the Centre and the Ukrainian Embassy, will help students of the state return. Gehlot tweeted, "Concerned about Rajasthani students residing in Ukraine in view of the current situation prevailing there."He said that students, who want to return, the state government in coordination with the embassy and the government of India will do everything possible to bring them back. A large number of family members of medical students living in Ukraine had demanded their safe return in view of the conditions there.
Russia Ukraine Crisis LIVE Updates |
White House now calling Russian moves on Ukraine an invasion, sets stage for strong sanctions
Russia Ukraine Crisis LIVE Updates | Germany blocks opening of pipeline as West responds to Russian moves in Ukraine
Germany froze a new gas pipeline and Britain hit Russian banks with sanctions on Tuesday, as the West responded to Moscow's recognition of two separatist regions in Ukraine and a speech by President Vladimir Putin suggesting more belligerent aims. Russia's parliament approved treaties with the two breakaway regions in Ukraine's east, a day after Putin announced he was recognising the independence of enclaves controlled by Russian-backed fighters since 2014. The prospect of a disruption to energy supplies and fears of war, stoked by reports of shelling and movements of unmarked tanks in the city of Donetsk, rattled international markets and sent oil prices surging to their highest level since 2014. Germany is Russia's biggest customer for natural gas, and the decision by Chancellor Olaf Scholz to halt the Nord Stream 2 pipeline -- built but still not opened -- was widely seen as one of the strongest measures Europe could take.
Russia Ukraine Crisis LIVE Updates | Where will Vladimir Putin stop?
Now that Russian President Vladimir Putin has recognised the independence of separatist enclaves in eastern Ukraine and ordered in "peacekeeping" troops, the big question is: where will he stop?Western countries have been warning for weeks that Moscow may be preparing for a possible all-out massed invasion to conquer its neighbour. Russia denies this, and Putin's moves so far have stopped well short of such a scenario.But a televised address by Putin on Monday night - in which he characterised the Ukrainian state and its leaders as illegitimate - added to fears that he may aim to subjugate Ukraine by force.
Russia Ukraine Crisis LIVE Updates | With markets affected by the Russia Ukraine crisis, here's what veteran Shankar Sharma advises to new investors
Amidst the volatility in the Indian markets right now which are adversely impacted by the Russian-Ukraine crisis, ace investor and market veteran Shankar Sharma advises investors to stick on to smallcaps and welcome the valuable lessons the market is teaching us right now.Sharma inconversation with Moneycontrolapprised that whatever the markets are going through right now due to the geopolitical tensions in Russia and Ukraine, it is quite precedented and just like other markets around the world, India will also suffer.He pointed out that whenever 'war' or 'near-war-like' situations arise, three things definitely happen- markets sell-off, treasuries might rally and there's a spike in oil prices. On February 22,International oil prices surged close to $100 a barrelon Tuesday after Russian President Vladimir Putin sent troops into Ukraine.
Russia Ukraine Crisis LIVE Updates |
Euro rises as Russia says still open to diplomacyThe euro rose on Tuesday versus the dollar, after earlier falling to its lowest in more than a week, as traders hoped a war in Ukraine will be avoided after a Kremlin spokesperson said Moscow remained open to diplomacy.Following Russian President Vladimir Putin's orders for the deployment of troops in two breakaway regions in Ukraine, the euro fell to an eight-day low versus the dollar.At 12.50 pm GMT, the euro rose 0.4% to $1.1352 after reports the Kremlin hoped Russia's recognition of two breakaway Ukrainian regions as independent would help restore calm and that Russia would recognise the current boundaries of the breakaway regions.Rising risk aversion amid a gas price surge and worries around a potential war in Ukraine have sent the euro one-month volatility to its highest in 15 months, with the West vowing sanctions in response to Putin's troops in Ukraine.
Russia Ukraine Crisis LIVE Updates | White House welcomes Nord Stream 2 halt, will announce 'own measures' against Russia
The White House welcomed Germany's decision to halt the Nord Stream 2 pipeline project meant to deliver Russian gas to Europe and said that US sanctions would be announced Tuesday.President Joe Biden "made clear that if Russia invaded Ukraine, we would act with Germany to ensure Nord Stream 2 does not move forward. We have been in close consultations with Germany overnight and welcome their announcement. We will be following up with our own measures today," Press Secretary Jen Psaki tweeted.
Russia Ukraine Crisis LIVE Updates | Separatist says Russia recognised breakaway republic on territory of wider region
Russian-backed separatist leader Denis Pushilin said on Tuesday that Moscow formally recognised the breakaway region of Donetsk within the wider boundaries of eastern Ukraine's Donetsk region, much of which is controlled by Ukrainian forces. Speaking on Russian state television, Pushilin said the matter of the territory not controlled by separatists would be resolved later. "The border issue is not simple, it will be resolved later," he said.
Russia Ukraine Crisis LIVE Updates | Germany says 'ready' to reinforce troops in Lithuania
German Defence Minister Christine Lambrecht on Tuesday said the EU member was ready to deploy more troops to the Baltic state Lithuania, amid growing fears of a Russian invasion of Ukraine."NATO has further raised our common crisis response measures for the NRF (NATO response force) and Germany is also ready to provide additional land, sea, and air forces as reinforcement," she said at Lithuania's Rukla military base where Germany leads the Western defence alliance's multinational battalion there.
Russia Ukraine Crisis LIVE Updates | EU to activate cyber response team to help Ukraine
The European Union is set to activate an EU cyber response team to help Ukraine face Russian attacks, the unit's leader Lithuania said on Tuesday.Lithuania and others "are activating (the) Cyber Rapid Response Team to help Ukrainian institutions to cope with growing cyber threats," the Baltic state's Deputy Defence Minister Margiris Abukevicius tweeted.The decision comes after Moscow recognised two breakaway regions in Ukraine, prompting backlash from the West and further fuelling fears of a possible Russian invasion of its post-Soviet neighbour.On Monday, Ukrainian Foreign Minister Dmytro Kuleba said that Russia had been using hybrid tactics to "escalate the situation.""We see disinformation campaigns, we see cyber attacks. We see open fakes distributed about Ukraine, and we see increased military activity," he told reporters in Brussels. Ukrainian cybersecurity bodies warned of impending attacks earlier this week, with a couple of major attacks on government websites recently observed. Kuleba called on the EU to take decisions that would "send clear messages to Russia that its escalation will not be tolerated and Ukraine will not be left on its own.""This includes not only political messaging, political signals, but also some very specific acts like supporting the development of our defence sector, supporting Ukraine's cybersecurity, imposing some of the sanctions," he added.
Russia Ukraine Crisis LIVE Updates | Russia not planning to send troops to east Ukraine 'for now'
Russia is not planning to send troops to eastern Ukraine "for now" but will do so in case of a "threat", a foreign ministry official said Tuesday after Moscow's parliament ratified cooperation deals with Ukraine's separatist republics.Deputy Foreign Minister Andrei Rudenko said the treaties include the provision of "military aid" but added that "speculation" on troop deployments should be avoided."For now, no one is planning to send anything anywhere. If there is a threat, then we will provide assistance in accordance with the ratified treaties."
Russia Ukraine Crisis LIVE Updates | U.S. Air Force spy plane takes spotlight in empty Ukraine airspace
While Ukraine's airspace has been largely empty amid the crisis with Russia, a remotely piloted U.S. military vehicle called the RQ-4 Global Hawk has flown over the country in circles for hours at a time. Over the past month, two of the spy planes have travelled on regular missions from the Mediterranean Sea to Ukraine, where they have navigated in repeated loops in the north and the east, according to Flightradar24. The drones' high-altitude, long-distance flights have coincided with a military build-up by Russia along the Ukrainian border and a flurry of diplomacy among leaders of the United States, Europe and Russia to avert war. At times, the two planes - under the call signs Forte10, Forte11 and Forte12 - have been the only active aircraft publicly visible over eastern Ukraine. Aviation watchers have taken note, speculating that the United States is making its presence known in a show of force. "With these types of flights, leaving the transponder on is a conscious decision," said Ian Petchenik, communications director at Flightradar24. The U.S. Air Force declined to comment on the details of the flights but said the United States routinely operates aircraft in support of intelligence objectives. "These missions demonstrate our continued commitment to safety and security in the region," a spokesperson said. On Monday evening, Forte11 returned to the Mediterranean after a nearly 24-hour trip over Ukraine. Its transponder went off at a low altitude near the Sigonella Naval Air Station in Sicily. It was the 13th similar mission. According to the Air Force's website, the mission of such aircraft is to collect intelligence, surveillance and reconnaissance "to support joint combatant forces in worldwide peacetime, contingency and wartime operations."
Russia Ukraine Crisis LIVE Updates | Gas prices 'in God's hands', producers warn as Ukraine crisis sparks surge
Major gas exporting nations said Tuesday they could not guarantee prices or supplies at a summit overshadowed by the worsening Ukraine crisis which has pushed costs to record highs in Europe.Qatar's emir, who hosted the talks, said gas producers were working to ensure "credible and reliable" supplies as Europe's fears over supplies from Russia were further hit by Germany's decision to halt the Nord Stream 2 pipeline project.The Gulf state's energy minister said his country would help Europe as much as possible, but that the unprecedented prices paid by Europe's consumers were "in God's hands".Leaders and ministers from the 11-member Gas Exporting Countries Forum met after Russian President Vladimir Putin formally recognised two breakaway regions of Ukraine as independent and sent in troops. Germany responded by freezing the huge gas pipeline from Russia.With Russia a key member of the exporters' forum, the Ukraine crisis was not mentioned in talks, officials said, or the final statement.Russia's Energy Minister Nikolay Shulginov made no reference to the tensions but he told the forum that "Russian companies are fully committed to existing contracts" for gas supplies.The United States has asked Qatar to help Europe if supplies arecut, but its Energy Minister Saad Sherida al-Kaabi said that his country could not rescue Europe alone. Russia accounts for about 40 percent of the European market and Qatar five percent.It would be "virtually impossible" for one country to replace that amount of gas, Kaabi told a press conference. Qatar's supplies are also tied up in long-term contracts, many with Asian countries including Japan, South Korea and China."We are ready to supply more and we are working on that," he said of requests made by the European Union. Kaabi said 10-15 percent of shipments under Qatar's long-term contracts could potentially be diverted.But he insisted that the record prices in Europe had their roots in a lack of investment before the Ukraine crisis.
Russia Ukraine Crisis LIVE Updates | Britain sanctions five banks and Gennady Timchenko, Boris Johnson says
Britain on Tuesday slapped sanctions on five Russian banks and three high-net worth individuals including Gennady Timchenko after President Vladimir Putin ordered the deployment of troops to two breakaway regions in eastern Ukraine."This is the first tranche, the first barrage of what we are prepared to do," Prime Minister Boris Johnson told parliament."Any assets they hold in the UK will be frozen and the indivuals concerned will be banned from travelling here," Johnson said of the individuals being sanctioned.Timchenko is a close ally of Russian President Vladimir Putin. The sanctioned banks are Rossiya, IS Bank, General Bank, Promsvyazbank and the Black Sea Bank, Johnson said."We must now brace ourselves for the next possible stages of Putin's plan," Johnson told the lower house of the British parliament. "Putin is establishing the pretext for a full scale offensive."Britain has threatened to cut off Russian companies' access to U.S. dollars and British pounds, blocking them from raising capital in London and to expose what Johnson calls the "Russian doll" of property and company ownership.Russia's once mighty superpower economy is now smaller than Italy's based on IMF data, with a nominal GDP of around $1.7 trillion.
Russia Ukraine Crisis LIVE Updates | Finland says Russian action in Ukraine could affect joint nuclear project
Russia's actions in Ukraine will have an impact on the security assessment for a joint Finnish-Russian nuclear plant project in northwest Finland, Finnish President Sauli Niinisto told reporters on Tuesday. "Security will certainly be one factor in the review," Niinisto said. He declined to comment on the likely outcome of the assessment and added the Finnish government would make the final decision on whether a construction permit is granted. The plant is a joint project between a consortium of Finnish utilities and a subsidiary of Russian state company Rosatom which holds a 34% stake. Finland has been preparing the venture for 10 years, eight of them with Russia as partner. Niinisto also said the European Union would make a decision on Tuesday on the first set of sanctions in response to Russian President Vladimir Putin's move to recognise two breakaway regions in eastern Ukraine.
Russia Ukraine Crisis LIVE Updates | UK to impose sanctions on Russian banks and individuals: Boris Johnson
UK Prime Minister Boris Johnson on Tuesday condemned Russia's deployment of troops to two Moscow-backed regions of Ukraine, saying it amounted to "a renewed invasion"."By denying Ukraine's legitimacy as a state and presenting its very existence as a mortal threat to Russia, (President Vladimir) Putin is establishing the pretext for a full-scale offensive".
Russia Ukraine Crisis LIVE Updates | Swiss liaise on Russian sanctions, may not act immediately
Switzerland is liaising with other countries on potential sanctions against Russia and may not act immediately, the government said on Tuesday as Moscow faced the prospect of a harsh Western response to its intervention in Ukraine. If new international sanctions are imposed on Russia, the Swiss cabinet will analyse the situation and then decide on what steps to take, if any. "It follows that Swiss measures could not be taken simultaneously with those of other countries," the economy ministry said in response to a query. "Nevertheless, we can confirm that the Swiss authorities are in contact with several countries to exchange information on the current situation." Neutral Switzerland in 2014 did not adopt European Union sanctions imposed on Russia for annexing Crimea, instead implementing its own measures designed to keep the country and its financial centre from being used to circumvent EU measures. Switzerland is obliged under international law to implement only sanctions imposed by the U.N. Security Council.
Russia Ukraine Crisis LIVE Updates | US troops arrive in Bulgaria for joint military training
Up to 150 UStroops and military equipment will be arriving in Bulgaria this week for joint training amid escalating tensions between Russia and Ukraine, the defence ministry said on Tuesday. On Monday Russian President Vladimir Putin recognised two breakaway regions in eastern Ukraine and has since ordered the deployment of troops there, deepening Western fears of a major war in Europe. The USsoldiers and armoured vehicles will be crossing from into Bulgaria from Romania on Tuesday and Thursday to take part in the training aimed at boosting troops' interoperability, the ministry said in a statement. Under a deal with NATO ally Bulgaria, the United States can keep up to 2,500 UStroops at several joint bases in the Black Sea country. Last week Defence Minister Stefan Yanev said a USarmy Stryker company will be at Novo Selo military base in eastern Bulgaria for joint training. Bulgaria, which joined NATO in 2004, plans to lead a battlegroup of up to 1,000 troops on its territory as NATO moves to strengthen its deterrence and defence on its eastern flank. Spain has deployed four Eurofighter jets to Bulgaria to support it in policing its air space until the end of March.
Russia Ukraine Crisis LIVE Updates | Vladimir Putin says he does not plan to 'restore empire'
Russian President Vladimir Putin said Tuesday that he does not plan to restore Russia's empire, a day after he ordered Russian troops to be sent to eastern Ukraine and questioned Ukraine's sovereignty."We predicted speculation that Russia plans to restore (its) empire within imperial borders," Putin said at a meeting with Azerbaijan's President Ilham Aliyev in the Kremlin, adding:"This absolutely does not correspond with reality".
Russia Ukraine Crisis LIVE Updates | Austria summons Russian ambassador over Ukraine
Austrian Chancellor Karl Nehammer says his country has summoned the Russian ambassador to protest Moscow's breach of Ukraine's sovereignty. Nehammer said Austria supports the EU's approach of imposing sanctions against Russia step by step, starting with a formal decision Tuesday afternoon by the bloc's foreign ministers.There is a variety of sanctions options that now need to be used in a targeted way because we have to assume that we haven't yet reached the peak of the escalation, he told reporters in Vienna. Nehammer also assured Austrians that even if Russia were to stop delivering natural gas immediately, the energy supply is secure. Authorities in Vienna are also stepping up surveillance of potential cyberthreats to Austrian government institutions. The country's foreign ministry was targeted in a cyberattack two years ago that was traced to Russia.
Russia Ukraine Crisis LIVE Updates | UN relocates non-essential staff, families in Ukraine
The United Nations said Tuesday it was relocating some of its non-essential staff and their family members in Ukraine, amid growing fears of an all-out Russian invasion."We are committed to stay and to continue delivering in Ukraine, especially in eastern Ukraine," UN spokeswoman Alessandra Vellucci told reporters in Geneva."We continue to be fully operational."She acknowledged though that "as a result of the evolving situation on the ground, we have allowed for temporary relocation of some non-essential staff and some dependents."Her comment came amid growing outrage and concern over Russia's recognition Monday of two Ukraine rebel republics, and decision to send in Russian "peacekeepers".The recognition effectively buries the fragile peace process regulating the conflict in eastern Ukraine, known as the Minsk accords, and increased fears that the Kremlin is preparing a full-scale invasion.
The UN counts 1,510 staff members in Ukraine, including 149 international staff, Vellucci said.In all, around 100 staff members are based in the eastern separatist regions of Donetsk and Lugansk.There have been warnings that a scale-up in the conflict could displace millions of people and cause a humanitarian crisis.The UN refugee agency said Tuesday that for now it was not seeing any increased movements outside the eastern regions.But "the situation does remain unpredictable," spokeswoman Shabia Mantoo told reporters in Geneva.She highlighted the UNHCR's strong presence in Ukraine."We do stand ready to support efforts by governments and other stakeholders to protect refugees and find solutions for people who are displaced in case there are any movements."
Russia Ukraine Crisis LIVE Updates | Indian bond yields rise, rupee falls as Ukraine tensions escalate
India's benchmark 10-year bond yield rose further in afternoon trade on Tuesday, while the rupee weakened, due to global risk aversion amid an escalation of tensions in Ukraine, which also pushed up oil prices close to $100 a barrel. India's benchmark 10-year bond yield closed at at 6.75 percent up 6 basis points from its previous close. The partially convertible rupee closed at 74.8750 per dollar, weaker compared with its previous close of 74.5050. Emerging market assets dropped after Russian President Vladimir Putin formally recognised two breakaway regions in eastern Ukraine, sending Russian stocks tumbling and the Ukrainian hryvnia to multi-year lows. The uptick in global crude to near $100 a barrel will also impact India's import bill and widen the current account deficit apart from fuelling imported inflation in the country.
Russia Ukraine Crisis LIVE Updates | Russia to be hit with barrage of sanctions, says UK PM Boris Johnson after meeting on Ukraine crisis
Prime Minister Boris Johnson said the UK will hit Russia with a first barrage of economic sanctions, warning that President Vladimir Putin is fixed on a "full-scale invasion of Ukraine”.He was speaking soon after chairing an emergency meeting of the Cabinet Office Briefing Room A (COBRA) on Tuesday in the wake of Putin’s decision to recognise two breakaway regions in eastern Ukraine.The UK PM accused Putin of "plainly" violating Ukrainian sovereignty and "the over-running, the subjugation of an independent, sovereign European country.""He’s sent troops in, he’s broken international law, he’s repudiated the Minsk agreements, and torn up the understanding from Budapest in 1994 that Ukraine’s territorial integrity would be respected,” said Johnson.He’s completely torn up international law and we will immediately institute a package of economic sanctions, which I think his people would expect."Targeted not just at entities in Donbas, in Luhansk and Donestsk, but in Russia itself targeting Russian economic interests as hard as we can,” he said.The COBRA meeting was held as UK Health Secretary Sajid Javid said "given that tanks have been seen near one of the rebel regions of Donetsk, it can be concluded that the invasion of Ukraine has begun”.
Russia Ukraine Crisis LIVE Updates | Ukraine recalls top envoy to Moscow 'for consultations'
Ukraine's foreign ministry on Tuesday said it was recalling its top envoy to Moscow for "consultations" following Russia's recognition of Kyiv's two breakaway regions.The ministry said in a statement that interim charge d'affaires Vasyl Pokotylo was returning to Kyiv in connection with Russia's "illegal decision to recognise the 'independence'" of the separatist regions of Lugansk and Donetsk.
Russia Ukraine Crisis LIVE Updates | Japan says it is ready to join U.S.-led sanctions on Russia
Japan said on Tuesday it stood ready to join the United States and other G7 industrialised nations in slapping sanctions on Russia, should President Vladimir Putin order an invasion of Ukraine. The confirmation by the world's No. 3 economy comes as the crisis in Europe worsens, with the Russian leader ordering troops into two breakaway regions in Eastern Ukraine that Russia now recognizes as independent states. That action was "unacceptable and a violation of international law," Prime Minister Fumio Kishida, who called Putin on Thursday to urge restraint, told reporters. Japan was ready for a strong response that could include sanctions, he added. Kishida's office said he later held telephone talks with Olaf Scholz, the leader of Germany, which holds the presidency of the G7, when the two re-affirmed cooperation on the Ukraine situation and agreed to monitor developments. Late on Monday the White House said it would announce new sanctions on Russia in response to Moscow's decisions and actions. A White House spokesperson added, "We are coordinating with allies and partners on that announcement." New sanctions by Japan, which would add to those imposed on Russia in 2014 after it occupied the Crimea, would include a ban on semiconductor chips and other key technology exports and tougher curbs on Russian banks, the Yomiuri newspaper has said. Although Japan, with just a 10% share of the global chip market, is no longer a major exporter of semiconductors, it is a key maker of specialised electronic components, from automotive chips to image sensors, and dominates fields such as high tech manufacturing equipment.
Russia Ukraine Crisis LIVE Updates | Kremlin says Russia open to all 'diplomatic contact'
The Kremlin said Tuesday it remained open to all diplomatic contact over Ukraine and that Kyiv cutting ties with Moscow would worsen an already tense situation."The Russian side remains open at all levels for diplomatic contacts... Everything depends on our opponents," Kremlin spokesman Dmitry Peskov told reporters, adding that a move by Kyiv to cut its official ties with Moscow would be "an extremely undesirable scenario that would make everything even more difficult."
Russia Ukraine Crisis LIVE Updates | Sensex tumbles 383 pts on escalating Russia-Ukraine tensions
The BSE benchmark Sensex plummeted about 383 points to close at 57,300-level on Tuesday, tracking massive selloffs in global markets. After sinking about 1,300 points in early deals, the Sensex staged a sharp recovery but still ended 382.91 points or 0.66 per cent lower at 57,300.68.The NSE Nifty too reclaimed part of its early losses before closing 114.45 points or 0.67 per cent lower at 17,092.20. On the Sensex chart, Tata Steel, TCS and SBI fell the most, losing as much as 3.64 per cent. Of the 30 Sensex constituents, 20 closed in the red.
Russia Ukraine Crisis LIVE Updates | Russian MPs approve Putin's deals with Ukraine separatists
Russian lawmakers on Tuesday voted to ratify President Vladimir Putin's agreements with east Ukraine's separatist republics, a day after the Russian leader recognised their independence and ordered troops to be sent there.The lower house of the Russian parliament, the Duma, voted to approve Putin's friendship deals with the Donetsk People's Republic (DNR) and Lugansk People's Republic (LNR). The voting ended in standing applause from MPs.
Russia Ukraine Crisis LIVE Updates | JPMorgan's Jahangir Aziz on potential sanctions by Russia, US dollar and oil
Jahangir Aziz, Head of Emerging Markets Economics Research & Commodities, JPMorgan spoke toCNBC-TV18 about the potential sanctions which Russia could place, the dollar movement and oil.When asked about the potential sanctions, he explained that in case of a move by Russia that the United States considers as an act of invasion of Ukraine, extreme sanctions may be imposed."The way we are looking at it is that there are two sorts of approaches by the US.One approach in the event there is something that US or the NATO or European allies considered it to be an actual invasion of Ukraine and thesecond is other forms of things that Russia might take. Sanction which use to be proportionate so you do something and then the sanctions are imposed and then depending upon the health assumptions, how the country reacts to sanctions, if the sanctions are raised or lowered, that approach is not going to be this time.""In an event of an act which the US considers to be an invasion of Ukraine, all the sanctions that being talked about in the US congress at this point in time will be imposed at its extreme level and that's a very sharp difference between previous use of sanctions as a proportionate reaction or response versus now that all of these sanctions across the board will be used at its extreme levels."
Russia Ukraine Crisis LIVE Updates | Ukraine says Russia preparing 'further military aggression'
Ukrainian leader Volodymyr Zelensky warned on Tuesday that Russia's recognition of his country's two breakaway regions was a precursor for a further military assault."We believe that with this decision, Russia is creating the legal basis for further military aggression against Ukraine, thus violating all possible international obligations," Zelensky said.
Russia Ukraine Crisis LIVE Updates | Ukraine central bank eyes new IMF talks in April to soothe markets over Russia
Ukraine wants to launch talks with the International Monetary Fund on a new programme in April to reassure markets that have been rattled by tensions with Russia, Central Bank Governor Kyrylo Shevchenko told Reuters.Speaking in an interview in his office late on Monday, Shevchenko ruled out imposing any administrative restrictions on the hryvnia currency, saying these would be counterproductive by agitating markets rather than offering stability.He also said the central bank would remain "hawkish" on fighting inflation, leaving open the possibility of raising interest rates beyond the planned hike to 11% at the next monetary policy meeting in March.The threat of major war in Ukraine after Russia massed troops and announced their deployment in Moscow-controlled separatist regions has pummelled Ukrainian assets. The hryvnia fell by more than 1% in early trading on Tuesday.Ukrainian President Volodymyr Zelenskiy's administration has stressed the importance of shielding the economy from the fallout, while the central bank has sold more than $1.4 billion in forex reserves to keep the hryvnia stable since January."We need to discuss a new programme with the IMF now, there will be a very good platform - the spring meeting of the IMF in April," Shevchenko said.The current $5 billion stand-by expires in June, and Ukraine expects to receive the remaining $2.2 billion in the first half of the year, including $700 million in March.
Russia Ukraine Crisis LIVE Updates | Just in:
Ukraine leader says Russia preparing 'further military aggression'
Russia Ukraine Crisis LIVE Updates | Ukraine leader demands immediate halt to Nord Stream 2 project
Ukrainian leader Volodymyr Zelensky on Tuesday demanded an immediate halt to the Nord Stream 2 project to pipe Russian natural gas to Germany via the Baltic Sea.Zelenskysaid Russia must be punished for its recognition Monday of Ukraine's two separatist-held regions with "immediate sanctions" that include "the complete stop of Nord Stream 2".
Russia Ukraine Crisis LIVE Updates | Russia urges other countries to recognise Ukraine rebel republics
Russia on Tuesday called on other countries to "follow" it in recognising east Ukraine's separatist republics, a day after President Vladimir Putin did so and ordered the Russian army to send troops there as "peacekeepers.""Russia calls on other states to follow its example," Moscow's foreign ministry said in a statement. It added that Moscow's recognition of the rebels -- condemned by the West -- was "not easy, but the only possible step."
Russia Ukraine Crisis LIVE Updates | Russia-Ukraine dispute should be resolved through talks: Rajnath Singh
Stressing that India stands for peace, Defence Minister Rajnath Singh on Tuesday said the Russia-Ukraine dispute should be resolved through talks. On the sidelines of an election meeting at Banshi Bazar here, Singh said "As per information received, the US president has said that they are ready to hold talks with the Russian president." "The US president has taken some initiative on his behalf. India wants peace to be established in any way. We are sure that when talks take place, some way or the other will come out," Singh said. When asked about India's stance, he said, "We want peace. We have always been in favour of world peace." When asked about India's stance, he said.India has called for restraint on all sides as tensions between Russia and NATO escalated further after Russian President Vladimir Putin on Monday recognised the independence of two states of Ukraine. Earlier, Russia had amassed it troops near the Ukraine border and has been demanding that NATO never admit Ukraine and other ex-Soviet nations as members and the military alliance roll back troop deployments in former Soviet bloc nations.
Russia Ukraine Crisis LIVE Updates | Euro volatility jumps as Russia orders troops to Ukraine regions
The euro one-month volatility level jumped on Tuesday to its highest in 15 months, as the single currency was hit by rising risk aversion amid a gas price surge and escalation of tensions in Ukraine. Russian President Vladimir Putin ordered troops to two breakaway regions in Ukraine, sending the euro one-month volatility to its highest level since November 2020, as the West vowed sanctions in response to Putin's troops in Ukraine. The euro edged 0.2% higher versus the dollar to $1.1331 by 0910 GMT, after touching an eight-day low. "The surge in European gas prices and the rise in concerns over Russian supplies to the region poses a risk to growth in Europe and therefore has the potential to significantly impact the timing of ECB (European Central Bank) policy tightening going forward, which is a EUR negative factor," said Jane Foley, head of FX strategy, at Rabobank in London. As Putin's move accelerated a crisis the West fears could unleash a major war, the Russian rouble climbed back above 80 to the dollar to its highest level since November 2020.
Russia Ukraine Crisis LIVE Updates | Russia moves on Ukraine will 'strongly increase' EU economic uncertainty
Russia's recognition of breakaway regions of Ukraine will "strongly increase" economic uncertainty for the EU, the bloc's economy commissioner Paolo Gentiloni said on Tuesday."Uncertainty remains around us. And the violation of international law through Russian recognition of two separatist territories in Ukraine will strongly increase this uncertainty," Gentiloni told a Brussels conference.
Russia Ukraine Crisis LIVE Updates | Explained: How Western sanctions might target Russia
The United States and its allies are coordinating new financial and economic sanctions on Russia afterMoscow recognised two breakaway regionsin eastern Ukraine as independent entities, officials said.President Vladimir Putin also signed a decree on the deployment of Russian troops to the breakaway regions. But White House officials said that because Russia already had troops in the regions, Moscow's moves did not trigger a broad package of sanctions which Washington and its allies have been working on in the event of a Russian invasion of Ukraine.The White House announced separate, less severe and more targeted sanctions. European Union member states are also considering possible sanctions.Russia has been under Western sanctions since its 2014 annexation of Crimea from Ukraine. More punitive measures were added after a former Russian spy was poisoned in Britain in 2018 – Russia denied any involvement – and following an investigation into allegations, denied by Moscow, of Russian meddling in the 2016 U.S. presidential election won by Donald Trump.
Russia Ukraine Crisis LIVE Updates | No need to panic, says MoS MEA Meenakashi Lekhi on Russia-Ukraine tensions
On being asked about the Russia-Ukraine tensions,MoSMEAMeenakashiLekhisaid, "There is no need to panic, the Govt of India has issued an advisory. All Indians, stay in touch with our embassy."
Russia Ukraine Crisis LIVE Updates | Ukraine urges 'tough sanctions' after Putin orders troops into rebel regions
Ukraine on Tuesday urged its Western allies to hit Russia with "tough sanctions" after President Vladimir Putin recognised two breakaway regions as independent and ordered in his troops. Putin's move -- which came with tens of thousands of Russian soldiers on Ukraine's borders and fears of an all-out invasion -- was quickly and widely condemned by Kyiv's allies in the West.
The United States, Britain and the European Union all moved to announce new economic sanctions within hours, as European and Russian stocks tumbled and oil prices surged over news of the recognition.
Russia Ukraine Crisis LIVE Updates | UK promises to hit Russia 'very hard' with sanctions
Britain on Tuesday vowed to "hit Russia very hard" with targeted sanctions and promised tougher measures in the event of a full-scale invasion, after the Kremlin ordered troops into two Moscow-backed rebel regions of Ukraine. After an early morning meeting with security chiefs, Prime Minister Boris Johnson promised to reveal a "first barrage of UK economic sanctions against Russia" in parliament later.
"They will hit Russia very hard and there is a lot more that we are going to do in the event of an invasion," he told reporters. "Be in no doubt that if Russian companies are prevented from raising capital on the UK financial markets, if we unpeel the facade of Russian ownership of companies, of property, it will start to hurt."
Russia Ukraine Crisis LIVE Updates | Oil hits highest since 2014 on Russia-Ukraine escalation
Oil hit its highest since 2014 on Tuesday as tensions between Russia and Ukraine escalated after Moscow ordered troops into two breakaway regions in eastern Ukraine, adding to supply concerns that are pushing prices to near $100 a barrel. The United States and its European allies are poised to announce new sanctions against Russia after President Vladimir Putin formally recognised the two regions in eastern Ukraine, escalating a security crisis on the continent.
"The potential for a rally over $100 a barrel has received an enormous boost," said Tamas Varga of oil broker PVM. "Those who have bet on such a move anticipated the escalation of the conflict." Brent crude, the global benchmark, was up $3.48, or 3.7%, at $98.87 at 0900 GMT, having earlier reached $99.38, the highest since September 2014.
U.S. West Texas Intermediate (WTI) crude jumped $4.41, or 4.8%, to $95.48 versus Friday's settlement, having earlier reached $96, also the highest since 2014. The U.S. market was closed on Monday for a public holiday. The crisis over Ukraine has added further support to an oil market that has surged due to tight supplies as demand recovers from the coronavirus pandemic.
The Organization of the Petroleum Exporting Countries and allies, known as OPEC+, have resisted calls to boost supply more rapidly. A senior British minister said on Tuesday Russia's invasion of Ukraine has created a situation as grave as the 1962 Cuban missile crisis, when a confrontation between the United States and the Soviet Union brought the world to the brink of nuclear war.
Nigeria's minister of state for petroleum on Tuesday stuck to the OPEC+ view that more supply was not needed, citing the prospect of more production from Iran if its nuclear deal with world powers is revived. Talks are ongoing on renewing Iran's nuclear agreement with world powers, which could eventually boost Iran's oil exports by over 1 million barrels per day.
Russia Ukraine Crisis LIVE Updates | Ukraine says time for 'tough sanctions' against Russia
Ukraine demanded severe sanctions against Russia on Tuesday as Western diplomats debated whether Moscow's decision to deploy troops to rebel-held eastern Ukraine is enough to trigger massive economic punishment. In a statement issued during a visit to Washington, Foreign Minister Dmytro Kuleba said he was working with Kyiv's Western friends "to impose tough sanctions against the Russian Federation.
Russia Ukraine Crisis LIVE Updates | Russia moves to cement ties with Ukraine's rebels
Russia moved quickly Tuesday to secure its hold on Ukraine's rebel regions following the recognition of their independence with legislation allowing the deployment of troops there in a challenge to Western governments, which are preparing to announce sanctions against Moscow. The new Russian bills, which are set to be quickly rubber-stamped by the Kremlin-controlled parliament, may set the stage for Russian troops to move deeper into Ukraine as the US and its allies have feared. Quickly after he signed the decree, convoys of armoured vehicles were seen rolling across the separatist-controlled territories. It wasn't immediately clear if they were Russian.
Russia Ukraine Crisis LIVE Updates | Iran urges 'restraint' in Ukraine crisis, blames West
Iran urged "restraint" from both Russia and Ukraine on Tuesday while blaming the United States and NATO for the sharp escalation of tensions. "The Islamic Republic of Iran calls on all parties to exercise restraint and avoid any action that could aggravate tensions," a foreign ministry statement said. Ministry spokesman Said Khatibzadeh added that "unfortunately, the interventions and provocative actions of NATO and mainly the US have complicated the situation in the region. "We are following the issues related to this country with sensitivity."
Russia Ukraine Crisis LIVE Updates | UK PM Boris Johnson chairs emergency meeting over Ukraine crisis
British Prime Minister Boris Johnson is chairing an emergency meeting of the Cabinet Office Briefing Room A (COBRA) on Tuesday morning as the UK plans further sanctions on Moscow, following Russian President Vladimir Putin’s decision to recognise two breakaway regions in eastern Ukraine. The meeting comes as UK Health Secretary Sajid Javid said given that tanks have been seen near one of those regions of Donetsk, it can be concluded that the invasion of Ukraine has begun”.
The COBRA meeting follows widespread condemnation of Russia’s move, which Johnson termed a violation of international law and an ill omen and very dark time, declaring that things are moving in the wrong direction in the region. Downing Street said the COBRA meeting would discuss the latest developments in Ukraine and coordinate the UK response, including agreeing a "significant package of sanctions to be introduced immediately”. The United Kingdom will be announcing new sanctions on Russia in response to its breach of international law and attack on Ukraine’s sovereignty and territorial integrity.
Russia Ukraine Crisis LIVE Updates | Hong Kong stocks close with big losses
Hong Kong stocks tumbled more than three percent Tuesday morning over fears about a possible Russia-Ukraine war and as tech firms were hit by fresh concerns of a crackdown by China. Equity markets across Asia have been sent tumbling after Russian President Vladimir Putin sent troops into two separatist regions in eastern Ukraine, ramping up geopolitical tensions and fears of a conflict.
