This live blog session has ended. Stay tuned to MoneyControl for more updates.
Russia Ukraine War News Highlights | The United States will continue to address potential sources of "leakages" in the sweeping sanctions imposed on Russia over its invasion of Ukraine, U.S. Treasury Secretary Janet Yellen said on Wednesday during a visit to Chicago.
Yellen said the hard sanctions slapped on Russia were having a significant impact, as reflected in the rouble's sharp fall.
"Russia is increasingly an economic island," she said.
Asked whether
Sanctions imposed last Sunday and Monday have so far restricted 80% of the Russian banking sector's assets and "immobilized" about half of the Russian central bank's assets, she said.
The rouble, which has lost about a third of its value since the start of the year, touched a fresh record low of 110 to the dollar in Moscow on Wednesday as the country's financial system teetered under the weight of Western sanctions. Russia calls its actions in Ukraine a "special operation."
"We will continue to look at how the sanctions work and whether there are leakages and we have the possibility to address them," Yellen told reporters after a speech at the University of Illinois-Chicago's Innovation Center.
The former chair of the U.S. Federal Reserve said she knew there were concerns about Russian elites using cryptocurrencies as a possible means to evade sanctions, but said there were laws in place to prevent that from happening.
"That is a channel to be watched," she said. "But ... many participants in the cryptocurrency networks are subject to anti-money-laundering (laws) and sanctions. So it's not that that sector is completely one where things can be evaded."
Yellen said she does not expect the Russian sanctions to have a major impact on the economic trajectory of the United States, due to limited U.S. trade and financial connections with Russia. Any effects will most likely be transmitted through higher energy prices, she said.
The Treasury will continue to "go after oligarchs or Russian elites who are key to President Putin's corrupt power."
"We have sanctioned many of these individuals over the last few weeks and we are assembling a task force with Justice Department colleagues and our allies to uncover, freeze, and seize their wealth around the world."
Yellen, who visited Chicago's Ukrainian Village neighborhood with Illinois Governor Jay Pritzker, also said that stronger economic policies were needed to strengthen America at home, despite an economic recovery from COVID-19 that has exceeded most expectations and U.S. growth that looks poised to continue.
Putin vows 'uncompromising fight' as Ukraine war enters second week: AFP
Ukraine kept more than 3000 Indian citizens at a station, alleges Putin
Death toll from Russian strike on Ukraine's Chernihiv rises to 22:: AFP
US to impose new sanctions on Russian oligarchs, including travel ban: AFP
Will send more assistance in coming days :India at UNHRC
Dialogue and Diplomacy are the only solutions for settling differences and disputes: India at UNHRC
Second round of talks over the war in Ukraine has begun
Ukraine urges citizens to use guerilla tactics
'Not too late to stop' UK defence minister tells Putin
Tens of millions at risk in Ukraine, UN says
Mariupol mayor says Russian forces trying to 'blockade' port city
Ukraine regional governor says nine killed after Russian air strike hits two schools
Russia to continue 'uncompromising' fight in Ukraine: Vladimir Putin to Emmanuel Macron
Scheduling more flights, large number of Indians will be back home in the next 2-3 days, says MEA Spokesperson Arindam Bagchi
About 400 Russian tourists left Venezuela on charter flight: Report
Ukraine urges WTO to shun Russia participation
Ukraine team headed to conflict talks with Russia: Kyiv
Nuclear threat over Ukraine shows 'all of humanity' at risk: UN
UN aid chief says $1.5 billion already raised for Ukraine
French President Emmanuel Macron held new 90-minute call with Vladimir Putin
EU top diplomat calls for immediate ceasefire in Ukraine
India considers relief for exporters hit by Ukraine crisis: Report
Bangladesh cargo ship hit in Ukraine, crew member killed
Ukraine is staging counter-attacks against Russian troops, Ukrainian official says
Russia aims to stop Ukraine from joining NATO: Russian Foreign Minister Sergei Lavrov
France seizes superyacht linked to Russian energy boss Sechin
Russia's Lavrov accuses West of considering 'nuclear war'
Germany to send Soviet-made anti-aircraft missiles to Ukraine
Netflix pauses future projects, acquisitions from Russia
EU sanctions on Russia starting to have an effect: EU official
Ukrainian restaurant in Hong Kong says many clients want to help
Ukrainian diplomats in Moscow moved to Latvia
Hungary evacuates 32 people from embassy in Kyiv
Equities rise as Powell soothes rate fears, oil close to $120
Russia warns West against further escalation: Report
Ukraine says 34 civilians killed in Kharkiv region, no water or power in Mariupol city
Russia continues contacts with US: Deputy minister
Fitch downgrades Russia's credit rating
Germany mulls supplying anti-aircraft missiles to Ukraine: Source
Nearly 650 Delhi residents stranded in Ukraine, help being extended to families
Nearly 650 Delhi residents stranded in Ukraine, help being extended to families
UK intelligence says Russian advance on Kyiv has made little progress
France advises its citizens to leave Russia
Hungary will not veto EU sanctions on Russia
More than 139,000 Ukrainians entered Romania since Russian invasion
Germany begins slow move away from Russian gas after Ukraine invasion
President Biden will decide whether to apply or waive sanctions on India under CAATSA, US official on Russian S-400
Russia seizes key southern Ukraine city after week of war
A million refugees have fled Ukraine: UNHCR head Filippo Grandi
UAE says Ukrainians eligible for visas on arrival, in apparent about-face
There is 'evolution' in some of India's public positions on Russia says US official
PM Modi to attend virtual Quad meeting today amid Ukraine crisis
Ukraine crisis: IAF's 4 evacuation flights with 798 Indians land in Hindon airbase
No report of hostage situation related to Indian students in Kharkiv: MEA
Indians stranded in east Ukraine need help: Evacuee
Biden administration looking whether to apply or waive sanctions on India under CAATSA: US diplomat
US says Russia blocks independent news outlets, social media
Amazon CEO Andy Jassy pledges logistics, cybersecurity support for Ukraine
Ukraine refugees reach 1 million in 7 days
Russian forces capture Ukrainian city of Kherson
China asked Russia to delay Ukraine invasion until after Olympics
Janet Yellen says US will address potential leakages in Russia sanctions
This live blog session has ended. Stay tuned to MoneyControl for more updates.
Putin vows 'uncompromising fight' as Ukraine war enters second week: AFP
Russian President Vladimir Putin vowed no let-up in his invasion of Ukraine and Kyiv appealed for Western military aid on Thursday, even as the warring sides met for ceasefire talks.
After the fall of a first major Ukrainian city to Russian forces, Putin appeared in no mood to heed a global clamour for hostilities to end as the war entered its second week.
"Russia intends to continue the uncompromising fight against militants of nationalist armed groups," Putin said, according to a Kremlin account of a call with French President Emmanuel Macron. READ MORE HERE
Indian Air Force deploying Russian-origin Ilyushin-76 heavy-lift transport aircraft to Russia to bring back Indian citizens returning from Ukraine. India not deploying American-origin C-17 planes for the mission: Government sources pic.twitter.com/HUOqT5yNCt
— ANI (@ANI) March 3, 2022
Ukraine kept more than 3000 Indian citizens at a station, allegesPutin
In his televised address, kept more than 3000 Indian citizens at a station said, "They're (Ukraine is) putting their mortars, tanks and cannons in residential areas & are taking foreign citizens captive. They kept more than 3000 Indian citizens at a station. They're taking prisoners."
Death toll from Russian strike on Ukraine's Chernihiv rises to 22:: AFP
#BREAKING US to impose new sanctions on Russian oligarchs, including travel ban: source pic.twitter.com/4rMWwX7UXo
— AFP News Agency (@AFP) March 3, 2022
India has already dispatched humanitarian assistance to Ukraine, including medicines, medical equipment & other relief material. We're sending more assistance in the coming days. This is an urgent necessity that must be addressed: India at 49th UN Human Rights Council Session
We are deeply concerned over the safety&security of thousands of Indians stranded in Ukraine. We're working together with neighbouring States for their evacuation. We call for respect & protection of human rights of people in Ukraine: India at 49th UN Human Rights Council Session
We urge immediate cessation of violence and an end to hostilities. No solution can ever arrive at the cost of human lives. Dialogue and Diplomacy are the only solutions for settling differences and disputes: India at 49th UN Human Rights Council Session
Ukraine President Zelenskyy's office says the second round of talks with the Russians has begun over the war in Ukraine.
