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March 09, 2022 / 11:02 PM IST

Russia-Ukraine War News Highlights | Moscow says almost 180,000 people fled Ukraine to Russia

Russia-Ukraine War News Highlights: Russia's Defence Ministry said on Wednesday that nearly 180,000 people had been evacuated from Ukraine to Russia since the start of the conflict on Feb. 24, the Russian news agency Interfax reported.

Russia-Ukraine War News Highlights: United States President Joe Biden announced a ban on US imports of Russian oil on Tuesday, in the administration's most far-reaching action yet to punish Moscow for invading Ukraine, AFP reported. The ban came with Democrats threatening legislation to force Biden's hand, despite the likely impact on already soaring gas prices. "We're banning all imports of Russian oil and gas and energy. That means Russian oil will no longer be acceptable

at US ports and the American people will deal another powerful blow to (President Vladimir) Putin," Biden said in an address from the White House, adding that the decision was taken "in close consultation" with allies.

Meanwhile, Britain also said Tuesday it would phase out Russian oil imports by the end of this year, in line with new sanctions announced by the United States following the invasion of Ukraine. "This transition will give the market, businesses and supply chains more than enough time to replace Russian imports -– which make up 8.0 percent of UK demand," Business Secretary Kwasi Kwarteng tweeted. The oil sanction does not apply to Russian natural gas, which accounts for some four percent of UK supply. But Kwarteng said he was "exploring options to end this altogether". The announcement came in coordination with an embargo on Russian oil announced by US President Joe Biden.

Notably, prices of nickel have soared over 100% in the last few days as the Russia-Ukraine war has triggered a shortage of the metal, threatening to disrupt production of batteries for electric vehicles. Russia supplies the world with about 10% of its nickel needs.

The increased prices may also drag the margins of the EV industry. Nickel prices soared by as much as 111% on March 8, momentarily surpassing $100,000 per tonne. The London Metal Exchange (LME) halted trade due to the surge when three-month nickel was up 66 percent at $80,000 per tonne.

United States president Joe Biden wants a rapid shift to EVs to stop “tyrants like Putin” using fossil fuels as weapon. "Loosening environmental regulations won’t lower prices. But transforming our economy to run on electric vehicles, powered by clean energy, will mean that no one will have to worry about gas prices. It will mean tyrants like Putin won’t be able to use fossil fuels as a weapon," said Biden.

Stay tuned for the latest news, developments and analysis on the situation.
  • March 09, 2022 / 11:00 PM IST

    The live blog session has concluded. For more news, views and updates, stay tuned with Moneycontrol.com.

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  • March 09, 2022 / 10:54 PM IST

     Russia-Ukraine Crisis LIVE | Russia acknowledges conscripts were part of Ukraine operation, some are POWs

    Russia's defence ministry acknowledged on Wednesday that some conscripts were taking part in the conflict with Ukraine after President Vladimir Putin denied this on various occasions, saying only professional soldiers and officers had been sent in.

    The ministry said that some of them, serving in supply units, had been taken prisoner by the Ukrainian army since the fighting began on Feb. 24.

    Citing Putin's spokesman Dmitry Peskov, the RIA news agency said Putin had ordered military prosecutors to investigate and punish the officials responsible for disobeying his instructions to exclude conscripts from the operation. (Reuters)

  • March 09, 2022 / 10:18 PM IST

    Russia-Ukraine Crisis LIVE | Moscow says almost 180,000 people fled Ukraine to Russia

    Russia's Defence Ministry said on Wednesday that nearly 180,000 people had been evacuated from Ukraine to Russia since the start of the conflict on Feb. 24, the Russian news agency Interfax reported.

    The ministry added that the operation to open up humanitarian corridors to remove Ukrainian civilians and foreigners from combat zones "did not bring the desired results, through Kyiv's fault" and the situation faced by civilians in the city of Mariupol had reached a "catastrophic scale".

    Both sides have accused each other of violating ceasefires that would allow the evacuation of civilians from combat zones. (Reuters)

  • March 09, 2022 / 09:56 PM IST

    Russia-Ukraine Crisis LIVE | EU says Russia reports of biolabs in Ukraine likely disinformation

    The European Union said on Wednesday it doubted the credibility of Russian government claims it had uncovered a militarybiological programme in Ukraine, saying that Moscow had a history of spreading disinformation about biological weapons.

    "The credibility of information provided by Kremlin is in general very doubtful and low," EU foreign affairs spokesman Peter Stano said.

    "Russian disinformation has a track record of promoting manipulative narratives about biological weapons and alleged 'secret labs'," he said, adding that the EU was not aware of any Ukrainian laboratories not in line with international law.

    Reuters

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  • March 09, 2022 / 09:37 PM IST

    Russia-Ukraine Crisis LIVE | Russia largely failed to respect civilian evacuation plans: Ukrainian official

    Ukrainian interior ministry adviser Vadym Denysenko said Russia had largely failed on Wednesday to respect agreements to allow civilians to be evacuated from towns and cities through humanitarian corridors. Evacuations took place from the cities of Sumy and Enerhodar, but not from the regional capital of Kharkiv and only partially in areas in the Kyiv region, he said on television. (Reuters)

  • March 09, 2022 / 08:53 PM IST

    Russia-Ukraine Crisis LIVE: Ukraine crisis | India needs to recalibrate response to price pressure amid Russia-Ukraine war, says Rajan

    India needs to recalibrate its response to the price situation following disruptions in global supply chains on account of Russia-Ukraine war, as losing the battle against inflation neither serves the government nor the central bank, former RBI governor Raghuram Rajan has said. Known for his frank views, Rajan further said it is very important for any central bank to respect its mandate given to it by the government. 

  • March 09, 2022 / 07:47 PM IST

    Russia-Ukraine Crisis LIVE: Ukraine crisis | Reliance's Jamnagar facility gearing up for diesel supply to Europe: Report

    The Jamnagar-based refinery of Reliance Industries Ltd (RIL) is gearing up to supply diesel to Europe, the continent which is reeling under an energy crunch since Russia launched a military offensive against Ukraine, a report said on March 9. According to Bloomberg, it has learned from person privy to the development that RIL has deferred the maintenance work at the Jamnagar plant, and is increasing its crude processing in a bid to gain from the surge in global demand. The company is "already sending" fuel shipments to Europe, the sources told the publication, adding that the quantum of supply will be increased in the months to come. The report was yet to elicit an official reaction from Reliance. The development could not be independently verified by Moneycontol. 

    Read more here

  • March 09, 2022 / 07:45 PM IST

    Russia-Ukraine Crisis LIVE: UK readies more missiles for Ukraine to resist Russians

    Britain said Wednesday it was preparing to send more portable missile systems to help Ukrainian forces destroy Russian tanks and aircraft, but denied it was escalating the conflict. Defence Secretary Ben Wallace said the UK had so far delivered 3,615 Next Generation Light Anti-tank Weapons (NLAWs) "and continue(s) to deliver more". "We will shortly be starting the delivery of a small consignment of anti-tank Javelin missiles as well," he told parliament. Wallace added that "in response to Ukrainian requests, the government has taken the decision to explore the donation of Starstreak high-velocity man-portable anti-air missiles". Like NLAWs, the British Starstreak missiles are a mobile system designed to be fired by troops in the field, targeting helicopters and planes. "We believe that this system will remain within the definition of defensive weapons but will allow the Ukrainian force to better defend the skies," the minister said. "I want to assure the House (of Commons) that everything we do is bound by the decisions to supply defensive systems and are calibrated not to escalate to a strategic level." 

  • March 09, 2022 / 07:31 PM IST

    Russia-Ukraine Crisis LIVE: Russia says U.S. has biolabs with plague and anthrax in Ukraine, U.S. calls claim absurd

    Russia said on Wednesday the United States must explain what Moscow claims was a military biological programme in Ukraine - an allegation Washington has already dismissed as "absurd" misinformation. Russian foreign ministry spokeswoman Maria Zakharova said evidence of the alleged programme had been uncovered by Russia during what it calls its military operation in Ukraine, which its forces invaded on Feb. 24. It involved deadly pathogens including plague and anthrax, she said. A Ukrainian presidential spokesperson said: "Ukraine strictly denies any such allegation". In response to earlier Russian allegations about the purported military biological programme in Ukraine, a Pentagon spokesman said on Tuesday: "This absurd Russian misinformation is patently false". Zakharova said Russia had documents showing that the Ukrainian health ministry had ordered the destruction of samples of plague, cholera, anthrax and other pathogens after Feb. 24. "We can already conclude that in Ukrainian biological laboratories in direct proximity to the territory of our country, development of components of biological weapons was being carried out," she said.

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  • March 09, 2022 / 07:21 PM IST

    Russia-Ukraine Crisis LIVE: Russian tourists in Indonesia without cash as sanctions bite

    When Russian tourist Konstantin Ivanov tried to draw money from his home bank account at a cash machine on the Indonesian resort island of Bali, the transaction was blocked. Unprecedented sanctions against Russia's banks over its invasion of Ukraine are taking a toll on its citizens overseas, who have been left scrambling to find cash or turn to crypto transactions to get by. "This has created a huge problem for us. We have been left completely stripped of our finances - its like they have been completely frozen and we cannot use them at all over here," said Ivanov, 27, adding that he might have to look for a job in Indonesia. The Russian embassy in the capital Jakarta did not immediately respond to a request for comment. Bali is a popular holiday destination with Russian tourists, who flocked to the island by the tens of thousands before the pandemic and were among the first to return when borders partially reopened last year. About 1,150 Russians entered Indonesia in January 2022, according to data from the statistics bureau. Rifki Saldi Yanto, the manager of a local cafe, said he had noticed a decline in Russian customers in recent days and many now pay with cash instead of credit card. fMeanwhile more than 7,000 Russians were stranded in Thailand, another popular beach destination because of flight cancellations, a rouble currency in free-fall and payment issues. 

  • March 09, 2022 / 07:16 PM IST

    Russia-Ukraine Crisis LIVE: Ukraine says Russian shelling disrupts evacuation of eastern town of Izyum

    A planned evacuation of civilians from the Ukrainian town of Izyum in the eastern Kharkiv region was held up by Russian shelling on Wednesday, regional governor Oleh Synehubov said an online post. "Buses are still waiting at the entrance to Izyum," he said, adding that negotiations with the Russians were under way with the support of the Red Cross.

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