During a speech in Europe on Saturday, US President Joe Biden pleaded with the Russian people to resist Vladimir Putin's ongoing Russian invasion of Ukraine, saying that the Russian people "are not our enemy."&nbsp;

"I've always spoken directly and honestly to you, the Russian people. Let me say this if you're able to listen: You, the Russian people, are not our enemy," Biden said in Warsaw, Poland.

He added: "I refuse to believe that you welcome the killing of innocent children and grandparents or that you accept hospitals, schools, maternity wards – for God's sake – being pummeled with Russian missiles and bombs."

Several missiles blasted the western Ukrainian city of Lviv, approximately 45 miles from Poland, during Biden's visit to Warsaw. 
 
Also Read |&nbsp;<a href="https://www.wionews.com/world/biden-to-meet-ukrainian-ministers-in-first-face-to-face-meeting-since-russias-invasion-465684">Biden meets Ukrainian ministers in first face-to-face meeting since Russia's invasion</a>

Thousands of people have died and thousands more have been displaced as a result of Putin's invasion of Ukraine.

Russian forces have also been accused of war crimes in Ukraine, where they have targeted schools and hospitals.&nbsp; 
 
Watch | Joe Biden delivers remarks from Warsaw, says Putin is strangling democracy &amp; World order

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Biden also urged on Russians who were alive under the Soviet Union and learned about it from their families to speak up about Putin's actions in Ukraine, saying they are "not the deeds of a great nation."&nbsp; 
 
Also Read |&nbsp;<a href="https://www.wionews.com/world/mine-like-object-found-floating-off-black-sea-465722">'Mine-like object' found floating off Black Sea</a>

(With inputs from agencies)

During a speech in Europe on Saturday, US President Joe Biden pleaded with the Russian people to resist Vladimir Putin's ongoing Russian invasion of Ukraine, saying that the Russian people "are not our enemy.

During a speech in Europe on Saturday, US President Joe Biden pleaded with the Russian people to resist Vladimir Putin's ongoing Russian invasion of Ukraine, saying that the Russian people "are not our enemy." "I've always spoken directly and honestly to you, the Russian people. Let me say this if you're able to listen: You, the Russian people, are not our enemy," Biden said in Warsaw, Poland. He added: "I refuse to believe that you welcome the killing of innocent children and grandparents or that you accept hospitals, schools, maternity wards – for God's sake – being pummeled with Russian missiles and bombs." Several missiles blasted the western Ukrainian city of Lviv, approximately 45 miles from Poland, during Biden's visit to Warsaw. Also Read | Biden meets Ukrainian ministers in first face-to-face meeting since Russia's invasion Thousands of people have died and thousands more have been displaced as a result of Putin's invasion of Ukraine. Russian forces have also been accused of war crimes in Ukraine, where they have targeted schools and hospitals. Watch | Joe Biden delivers remarks from Warsaw, says Putin is strangling democracy & World order Biden also urged on Russians who were alive under the Soviet Union and learned about it from their families to speak up about Putin's actions in Ukraine, saying they are "not the deeds of a great nation." Also Read | 'Mine-like object' found floating off Black Sea (With inputs from agencies)

Russian people, are not our enemy, US President Joe Biden says

The Biden administration is planning to give an option of second booster shot to the people of age 50 or older, but the question is how effective will the 2nd booster shot be?

US plans to offer second booster shots to those 50 yrs and older

Amid the ongoing Russian invasion of Ukraine, India has maintained a neutral stance over the conflict. Now, US President Joe Biden says India's reponse is 'Shaky'.

US President Biden praises QUAD, NATO but singles out India for 'Shaky' response to Russian invasion

A school in the US has apologised after a video surfaced in which a teacher was teaching 5-year-olds to raise anti-Biden slogans, reported Associated Press. The video was obtained by ABC News' Rob McMillan and posted on Facebook.

In this video, the teacher asks the students, "Who's our President?". The students say,"Biden!"

The teacher then proceeds to ask "What do we want to do with him?", to which the students respond "We want him OUT!"

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The incident reportedly took place at Turning Point Christian School in Norco, California. The video was first posted on the school's messaging app and was later taken down. But it ultimately found its way on the social media platforms like Twitter and Facebook.

The school has since apologised, and school officials said that the school was “sorry for any misunderstanding”

“Earlier today a video was posted that has since been deleted as it did not share our school and church philosophy of honoring and respecting authority including those in government positions,” the school statement said, as reported by The Associated Press.

The video has drawn anger online which some social media users even calling this "indoctrination".

"Teachers no matter which way they vote should NEVER push their political views onto any of their students. EVER," says a Facebook user.

"This type of activity has no place in a classroom. Given that this is a private school they are within their rights to have their own activities and it behooves parents to carefully check what goes on in their child's classroom. I speak as a retired elementary teacher," says another user

<img alt="Facebook comments" data-entity-type="file" data-entity-uuid="defe7a87-c0aa-4000-81af-ae36602cfc7b" src="//cdn.wionews.com/sites/default/files/inline-images/school.png" />

 
It is yet unclear whether any sort of action has been initiated against the teacher who was encouraging students to raise the slogans.

A school in the US has apologised after a video surfaced in which a teacher was teaching 5-year-olds to raise anti-Biden slogans, reported Associated Press. The video was obtained by ABC News' Rob McMillan and posted on Facebook.

A school in the US has apologised after a video surfaced in which a teacher was teaching 5-year-olds to raise anti-Biden slogans, reported Associated Press. The video was obtained by ABC News' Rob McMillan and posted on Facebook. In this video, the teacher asks the students, "Who's our President?". The students say,"Biden!" The teacher then proceeds to ask "What do we want to do with him?", to which the students respond "We want him OUT!" × The incident reportedly took place at Turning Point Christian School in Norco, California. The video was first posted on the school's messaging app and was later taken down. But it ultimately found its way on the social media platforms like Twitter and Facebook. The school has since apologised, and school officials said that the school was “sorry for any misunderstanding” “Earlier today a video was posted that has since been deleted as it did not share our school and church philosophy of honoring and respecting authority including those in government positions,” the school statement said, as reported by The Associated Press. The video has drawn anger online which some social media users even calling this "indoctrination". "Teachers no matter which way they vote should NEVER push their political views onto any of their students. EVER," says a Facebook user. "This type of activity has no place in a classroom. Given that this is a private school they are within their rights to have their own activities and it behooves parents to carefully check what goes on in their child's classroom. I speak as a retired elementary teacher," says another user It is yet unclear whether any sort of action has been initiated against the teacher who was encouraging students to raise the slogans.

School apologises after teacher tells 5-year-olds to raise anti-Biden slogans: Report

Amid the ongoing Russian invasion of Ukraine, US President Joe Biden has warned Chinese President Xi Jinping of a global backlash if it aids Russia. However, China says that it is not arming Russia.

Biden warns Xi of a global backlash if it aids Russia amid the ongoing Russian invasion of Ukraine

Taiwan issue needs to be handled properly to avert a negative impact on relations between US and China, President Xi Jinping has told counterpart Joe Biden on Friday as per Chinese media reports. &nbsp;

Taiwan is the most sensitive and vital issue in bilateral relations with US, said China. &nbsp; &nbsp;

Beijing views it as a breakaway province, which needs to be brought back to the fold, by force if necessary. &nbsp;

Also Read:&nbsp;<a href="https://www.wionews.com/world/chinas-information-dark-age-could-be-russias-future-463611" hreflang="en">China’s information dark age could be Russia’s future</a>

For restoring peace in Ukraine after Russian invasion, Washington is seeking China's help. &nbsp;&nbsp;

The US has no formal diplomatic ties with Taiwan. But it has been one of the most important international backers and arms suppliers for Taipei. &nbsp;&nbsp;

On a video call, Xi told Biden, "Some individuals in the United States are sending the wrong signals to pro-independence forces in Taiwan, and that's very dangerous. If the Taiwan issue is not handled properly, it will have a subversive impact on the relationship between the two countries." &nbsp;

Also Read:&nbsp;<a href="https://www.wionews.com/world/chinese-aircraft-carrier-sails-through-taiwan-strait-463560" hreflang="en">Chinese aircraft carrier sails through Taiwan Strait</a>

A White House statement said Biden reiterated in the call with Xi that US policy on Taiwan has not changed. He emphasised that Washington "continues to oppose any unilateral changes to the status quo." &nbsp;

"(We) hope the US side will pay adequate attention" to the issue, Xi told Biden. &nbsp;&nbsp;

(With inputs from agencies)&nbsp;

Taiwan issue needs to be handled properly to avert a negative impact on relations between US and China, President Xi Jinping has told counterpart Joe Biden on Friday as per Chinese media reports.

Taiwan issue needs to be handled properly to avert a negative impact on relations between US and China, President Xi Jinping has told counterpart Joe Biden on Friday as per Chinese media reports. Taiwan is the most sensitive and vital issue in bilateral relations with US, said China. Beijing views it as a breakaway province, which needs to be brought back to the fold, by force if necessary. Also Read: China’s information dark age could be Russia’s future For restoring peace in Ukraine after Russian invasion, Washington is seeking China's help. The US has no formal diplomatic ties with Taiwan. But it has been one of the most important international backers and arms suppliers for Taipei. On a video call, Xi told Biden, "Some individuals in the United States are sending the wrong signals to pro-independence forces in Taiwan, and that's very dangerous. If the Taiwan issue is not handled properly, it will have a subversive impact on the relationship between the two countries." Also Read: Chinese aircraft carrier sails through Taiwan Strait A White House statement said Biden reiterated in the call with Xi that US policy on Taiwan has not changed. He emphasised that Washington "continues to oppose any unilateral changes to the status quo." "(We) hope the US side will pay adequate attention" to the issue, Xi told Biden. (With inputs from agencies)

Taiwan issue needs to be handled properly, Xi tells Biden during video call

China is under intense diplomatic pressure to pull its support from isolated Russia. Three weeks after the invasion of Ukraine, Beijing has shown few signs of handling its friends in Kremlin, Now, US president is going to hold talks with this counterpart Xi Jinping.

Biden to hold talks with Xi Jinping, how will China balance out conflicting priorities

Volodymyr Zelensky will deliver a virtual address to the US Congress on Wednesday to drum up the support for Ukraine.

Ukraine-Russia Conflict: Zelensky to address US Congress to drum up support

US President Joe Biden is expected to travel to Brussels next week to meet with NATO leaders to discuss Russia`s war in Ukraine, U.S. and foreign sources familiar with the situation said on Monday. 
 
The plan, which is still being finalized, calls for Biden to meet with other leaders from the NATO alliance in Brussels on March 23, said three of the sources. 
 
They cautioned that the plans could still change given the rapidly evolving situation in Ukraine. 
 
<a href="https://www.wionews.com/world/uk-warns-russia-might-be-planning-a-chemical-attack-on-ukraine-us-nato-un-echo-the-concern-462340">Also read | UK warns Russia might be planning a chemical attack on Ukraine; US, NATO echo the concern</a> 
 
The meeting comes as Russian forces continue to escalate their attacks on Ukraine. 
 
One source said Biden could also travel to NATO member Poland, where concerns are running high after a Russian attack on a large Ukrainian base just miles from the border killed 35 people. 
 
NATO members are worried about being drawn into a military conflict with nuclear power Russia. Biden has repeatedly said that the United States will not send forces into Ukraine, but will defend "every inch" of NATO territory. 
 
White House spokesperson Jen Psaki said that the United States was closely engaged with its NATO partners and European allies but that there had not been any final decision about a presidential trip. 
 
Since Russia`s invasion of Ukraine began on Feb. 24, the biggest attack on a European state since World War Two, the United States and its allies have coordinated broad sanctions against Moscow and President Vladimir Putin as punishment.

US President Joe Biden is expected to travel to Brussels next week to meet with NATO leaders to discuss Russia`s war in Ukraine, U.S. and foreign sources familiar with the situation said on Monday.

US President Joe Biden is expected to travel to Brussels next week to meet with NATO leaders to discuss Russia`s war in Ukraine, U.S. and foreign sources familiar with the situation said on Monday. The plan, which is still being finalized, calls for Biden to meet with other leaders from the NATO alliance in Brussels on March 23, said three of the sources. They cautioned that the plans could still change given the rapidly evolving situation in Ukraine. Also read | UK warns Russia might be planning a chemical attack on Ukraine; US, NATO echo the concern The meeting comes as Russian forces continue to escalate their attacks on Ukraine. One source said Biden could also travel to NATO member Poland, where concerns are running high after a Russian attack on a large Ukrainian base just miles from the border killed 35 people. NATO members are worried about being drawn into a military conflict with nuclear power Russia. Biden has repeatedly said that the United States will not send forces into Ukraine, but will defend "every inch" of NATO territory. White House spokesperson Jen Psaki said that the United States was closely engaged with its NATO partners and European allies but that there had not been any final decision about a presidential trip. Since Russia`s invasion of Ukraine began on Feb. 24, the biggest attack on a European state since World War Two, the United States and its allies have coordinated broad sanctions against Moscow and President Vladimir Putin as punishment.

Biden expected to meet with NATO leaders in Brussels on Russia-Ukraine: Sources

Reports suggest that Saudi Arabia and UAE leaders have declined calls with Biden. The Gulf nations have the capacity to pump more oil to ease supply fears but relations with the US have chilled under Biden. Ghadi Francis brings you more on this on The West Asia Post.

The West Asia Post | Another foreign policy failure for Biden?

President Joe Biden said Wednesday that he would nominate Roselyn Tso to serve as director of the Indian Health Service, raising hopes of a fresh start for an agency that has drawn intense criticism over the years for failing to provide adequate care to tribal communities.

Tso, a member of the Navajo Nation, is currently the director of the Navajo Area of IHS, overseeing the delivery of health services to more than 240,000 Native Americans in the Southwest.

If confirmed, she would replace Elizabeth A. Fowler, a member of the Comanche Nation descended from the Eastern Band of Cherokee Indians, who has led the agency on an interim basis since January 2021. Rear Adm. Michael Weahkee led the agency during the Trump administration, but served in an acting capacity until April 2020.

Biden’s choice of Tso comes more than a year into his presidency. He made a campaign promise to address the long-standing issues plaguing the Indian Health Service, which has suffered from a lack of consistent permanent leadership.

Tso has been with the agency since 1984, with stints at the Portland Area office, in Oregon, and the agency’s headquarters in Rockville, Maryland.

“The Indian Health Service director plays a critical role in raising the health status of Native peoples and upholding the federal government’s trust responsibility to Native communities,” said Sen. Brian Schatz, D-Hawaii, chair of the Senate Committee on Indian Affairs. “I am committed to seeking Indian Country’s input on Ms. Tso’s nomination as the committee carefully considers her qualifications.”

The Indian Health Service consists of 26 hospitals, 56 health centers and 32 health stations, and provides care to 2.6 million members of the nation’s tribal communities — roughly half. The hospitals, scattered across a dozen administrative regions, range in size from four beds to 133.

The agency has long faced shortages of funding and supplies, but the pandemic brought those disparities to the fore, with disproportionally high rates of infection and death among Native Americans.

Critics say the agency, with an annual budget of more than $6 billion, has been chronically neglected by Congress and successive administrations. Staffing vacancies abound in its hospitals, and the Native American communities it serves have some of the worst health outcomes in the country.

The National Congress of American Indians, in a statement, applauded the Biden administration for taking steps to fill a position that is crucial to making sure that IHS is prepared to meet the needs of Indian Country.

President Joe Biden said Wednesday that he would nominate Roselyn Tso to serve as director of the Indian Health Service, raising hopes of a fresh start for an agency that has drawn intense criticism over the years for failing to provide adequate care to tribal communities.

President Joe Biden said Wednesday that he would nominate Roselyn Tso to serve as director of the Indian Health Service, raising hopes of a fresh start for an agency that has drawn intense criticism over the years for failing to provide adequate care to tribal communities. Tso, a member of the Navajo Nation, is currently the director of the Navajo Area of IHS, overseeing the delivery of health services to more than 240,000 Native Americans in the Southwest. If confirmed, she would replace Elizabeth A. Fowler, a member of the Comanche Nation descended from the Eastern Band of Cherokee Indians, who has led the agency on an interim basis since January 2021. Rear Adm. Michael Weahkee led the agency during the Trump administration, but served in an acting capacity until April 2020. Biden’s choice of Tso comes more than a year into his presidency. He made a campaign promise to address the long-standing issues plaguing the Indian Health Service, which has suffered from a lack of consistent permanent leadership. Tso has been with the agency since 1984, with stints at the Portland Area office, in Oregon, and the agency’s headquarters in Rockville, Maryland. “The Indian Health Service director plays a critical role in raising the health status of Native peoples and upholding the federal government’s trust responsibility to Native communities,” said Sen. Brian Schatz, D-Hawaii, chair of the Senate Committee on Indian Affairs. “I am committed to seeking Indian Country’s input on Ms. Tso’s nomination as the committee carefully considers her qualifications.” The Indian Health Service consists of 26 hospitals, 56 health centers and 32 health stations, and provides care to 2.6 million members of the nation’s tribal communities — roughly half. The hospitals, scattered across a dozen administrative regions, range in size from four beds to 133. The agency has long faced shortages of funding and supplies, but the pandemic brought those disparities to the fore, with disproportionally high rates of infection and death among Native Americans. Critics say the agency, with an annual budget of more than $6 billion, has been chronically neglected by Congress and successive administrations. Staffing vacancies abound in its hospitals, and the Native American communities it serves have some of the worst health outcomes in the country. The National Congress of American Indians, in a statement, applauded the Biden administration for taking steps to fill a position that is crucial to making sure that IHS is prepared to meet the needs of Indian Country.

Biden nominates Roselyn Tso, of the Navajo nation, to run Indian Health Service

Bitcoin soared after President Joe Biden signed an executive order that requires the U.S. government agencies to assess the benefits and risks of creating a central bank digital dollar and other cryptocurrencies. The executive order potentially expands the adoption of virtual currencies in the U.S. financial system.

Bitcoin surges after Biden signs executive order on digital assets

Amidst the ongoing invasion of Ukraine by Russia, the term “no-fly zone” has been heard multiple times. Ukrainian President Volodymyr Zelensky has pleaded NATO to impose a no-fly zone over Ukraine claiming it would prevent civilian casualties but NATO has rejected the demand. Why?

Can ‘no-fly zone’ help Ukraine against Russia? What NATO, Zelensky, Biden are saying

US President Joe Biden is expected to sign a long-awaited executive order this week which will direct the justice department, treasury and other agencies in the US to study the legal and economic ramifications of creating a central bank digital currency.

US President Joe Biden to order digital currency study to know legal & economic ramifications

US President Joe Biden on Tuesday announced ban on import of Russian oil into US. The decision has been taken in light of Russia's invasion of Ukraine. Biden personally announced the decision in front of the media. Oil prices were already surging as reports of such a ban were doing rounds in the run-up to the announcement. What will the world economy have to bear as result of USA's decision. Here is a brief look.

Record rise in oil prices

JP Morgan has predicted that oil could hit a record $185 a barrel by the end of 2022 if disruption to Russian exports lasts that long, although along with most analysts polled by Reuters the bank expects a yearly average price below $100.

Other Western governments have not imposed direct sanctions on Russia's energy sector but some buyers are already shunning Russian oil in order to avoid legal troubles later.

"A prolonged war which causes widespread disruption to commodity supplies could see Brent moving above the $150 a barrel mark," Giovanni Staunovo, commodity analyst at UBS, said. He was quoted by Reuters.

Inflation

With natural gas prices hitting all-time highs, soaring energy costs are expected to push inflation above 7% on both sides of the Atlantic in the coming months and eat deep into households’ purchasing power.

As a rule of thumb, every 10% rise in the oil price in euro terms increases euro zone inflation by 0.1 to 0.2 percentage point. Since Jan 1, Brent crude is up around 80% in euros. In the U.S., every $10 per barrel rise in oil prices increases inflation by 0.2 percentage point.

In addition to being a major supplier of oil and gas, Russia is also the world's largest grains and fertilisers exporter and a top producer of palladium, nickel, coal and steel. The bid to exclude its economy from the trading system will hit a wide range of industries and add to global food security fears.

Recovery to be hit?

As the global economy is still in nascent stages of recovery after the pandemic, a ban on Russian oil is likely to slow it further.

Preliminary calculations by the European Central Bank (ECB) suggest that war could cut euro zone growth by 0.3 to 0.4 percentage points this year in a baseline scenario and 1 percentage point in case of a severe shock.

In the coming months, there is a high risk of stagflation, or little to minimal growth coupled with high inflation. However, further, euro zone growth is likely to remain robust, even if commodity prices prove a drag.

In the US, the Fed estimates that every $10 per barrel rise in oil prices cuts growth by 0.1 percentage point, though private forecasters see a more muted impact.

In Russia, the damage is likely to be large and immediate. JPMorgan estimates that its economy will contract by 12.5% from peak to trough.

Impact on central banks

For the US Federal Reserve, the inflationary impact has already proved too great and its Chair Jerome Powell has said that interest rates need to rise this month, piling pressure on borrowers. read more

For the ECB, the urgency of policy action is less acute as the labour market still enjoys spare capacity and there is little home-grown inflation.

"No one can seriously expect the ECB to start normalising monetary policy at such a moment of high uncertainty," ING economist Carsten Brzeski said.

What are the substitutes?

With fossil fuel demand rebounding from the pandemic but supply around the world still tight, policymakers will be under pressure to ramp up supply despite pledges to back green energy.

"There will be a dial back on green initiatives in the short term in an attempt to reverse the contraction we've seen in fossil fuel supplies," Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown, said.

Talks to unleash Iran from international sanctions are in advanced stages and high oil prices are set to galvanize investment in U.S. shale, but supply may not be set to come online soon enough to replace Russian output.

"The potential supply impacts are so large that there isn’t a quick way to substitute in the medium term, meaning the only mitigant will be price inflation of these inputs and the products that depend on them," said Alex Collins, senior corporate analyst at BlueBay Asset Management.

The long view

The Russian-Western impasse could invigorate Moscow's relationship with Beijing but the energy infrastructure between the two countries is scant.

"Although Russia's Pivot to the East has accelerated gas cooperation with China via gas infrastructure ... all these developments are still in their infancy compared to the mature markets in Europe," said Kaho Yu, principal Asia analyst at risk consultancy Verisk Maplecroft.

Renewables could get a boost in the medium- to long-run as countries seek to wean themselves off Russian energy.

"We should take the subsidies we now devote to natural gas, coal, and petroleum and put them into renewable energy generation, electric mobility and EV charging infrastructure, heat pumps, building efficiency upgrades," said Wolfgang Ketter, professor at the Rotterdam School of Management at Erasmus University in the Netherlands.

"Anything that will lead to long term energy security by reducing fossil fuel dependency."

(With inputs from agencies).

US President Joe Biden on Tuesday announced ban on import of Russian oil into US. The decision has been taken in light of Russia's invasion of Ukraine. Biden personally announced the decision in front of the media.

US President Joe Biden on Tuesday announced ban on import of Russian oil into US. The decision has been taken in light of Russia's invasion of Ukraine. Biden personally announced the decision in front of the media. Oil prices were already surging as reports of such a ban were doing rounds in the run-up to the announcement. What will the world economy have to bear as result of USA's decision. Here is a brief look. Record rise in oil prices JP Morgan has predicted that oil could hit a record $185 a barrel by the end of 2022 if disruption to Russian exports lasts that long, although along with most analysts polled by Reuters the bank expects a yearly average price below $100. Other Western governments have not imposed direct sanctions on Russia's energy sector but some buyers are already shunning Russian oil in order to avoid legal troubles later. "A prolonged war which causes widespread disruption to commodity supplies could see Brent moving above the $150 a barrel mark," Giovanni Staunovo, commodity analyst at UBS, said. He was quoted by Reuters. Inflation With natural gas prices hitting all-time highs, soaring energy costs are expected to push inflation above 7% on both sides of the Atlantic in the coming months and eat deep into households’ purchasing power. As a rule of thumb, every 10% rise in the oil price in euro terms increases euro zone inflation by 0.1 to 0.2 percentage point. Since Jan 1, Brent crude is up around 80% in euros. In the U.S., every $10 per barrel rise in oil prices increases inflation by 0.2 percentage point. In addition to being a major supplier of oil and gas, Russia is also the world's largest grains and fertilisers exporter and a top producer of palladium, nickel, coal and steel. The bid to exclude its economy from the trading system will hit a wide range of industries and add to global food security fears. Recovery to be hit? As the global economy is still in nascent stages of recovery after the pandemic, a ban on Russian oil is likely to slow it further. Preliminary calculations by the European Central Bank (ECB) suggest that war could cut euro zone growth by 0.3 to 0.4 percentage points this year in a baseline scenario and 1 percentage point in case of a severe shock. In the coming months, there is a high risk of stagflation, or little to minimal growth coupled with high inflation. However, further, euro zone growth is likely to remain robust, even if commodity prices prove a drag. In the US, the Fed estimates that every $10 per barrel rise in oil prices cuts growth by 0.1 percentage point, though private forecasters see a more muted impact. In Russia, the damage is likely to be large and immediate. JPMorgan estimates that its economy will contract by 12.5% from peak to trough. Impact on central banks For the US Federal Reserve, the inflationary impact has already proved too great and its Chair Jerome Powell has said that interest rates need to rise this month, piling pressure on borrowers. read more For the ECB, the urgency of policy action is less acute as the labour market still enjoys spare capacity and there is little home-grown inflation. "No one can seriously expect the ECB to start normalising monetary policy at such a moment of high uncertainty," ING economist Carsten Brzeski said. What are the substitutes? With fossil fuel demand rebounding from the pandemic but supply around the world still tight, policymakers will be under pressure to ramp up supply despite pledges to back green energy. "There will be a dial back on green initiatives in the short term in an attempt to reverse the contraction we've seen in fossil fuel supplies," Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown, said. Talks to unleash Iran from international sanctions are in advanced stages and high oil prices are set to galvanize investment in U.S. shale, but supply may not be set to come online soon enough to replace Russian output. "The potential supply impacts are so large that there isn’t a quick way to substitute in the medium term, meaning the only mitigant will be price inflation of these inputs and the products that depend on them," said Alex Collins, senior corporate analyst at BlueBay Asset Management. The long view The Russian-Western impasse could invigorate Moscow's relationship with Beijing but the energy infrastructure between the two countries is scant. "Although Russia's Pivot to the East has accelerated gas cooperation with China via gas infrastructure ... all these developments are still in their infancy compared to the mature markets in Europe," said Kaho Yu, principal Asia analyst at risk consultancy Verisk Maplecroft. Renewables could get a boost in the medium- to long-run as countries seek to wean themselves off Russian energy. "We should take the subsidies we now devote to natural gas, coal, and petroleum and put them into renewable energy generation, electric mobility and EV charging infrastructure, heat pumps, building efficiency upgrades," said Wolfgang Ketter, professor at the Rotterdam School of Management at Erasmus University in the Netherlands. "Anything that will lead to long term energy security by reducing fossil fuel dependency." (With inputs from agencies).

Joe Biden bans US import of Russian oil, global economy to face heat?

US President Joe Biden, during a conversation with Volodymyr Zelenskyy, welcomed the decisions of Visa and Mastercard to suspend services in Russia, the White House said.

Earlier, Zelenskyy said on Twitter that he held phone talks with Biden on Saturday, discussing Western support for Kyiv and anti-Russia sanctions.

"President Biden highlighted the ongoing actions undertaken by the United States, its allies and partners, and private industry to raise the costs on Russia for its aggression in Ukraine. In particular, he welcomed the decision this evening by Visa and Mastercard to suspend service in Russia," the White House said in a Saturday statement following the Biden-Zelenskyy conversation.

According to the release, Biden and Zelenskyy discussed the recent talks between Russia and Ukraine.

The White House said that the Biden administration is boosting assistance to Kyiev and is "working closely with Congress to secure additional funding."

US President Joe Biden, during a conversation with Volodymyr Zelenskyy, welcomed the decisions of Visa and Mastercard to suspend services in Russia, the White House said.

US President Joe Biden, during a conversation with Volodymyr Zelenskyy, welcomed the decisions of Visa and Mastercard to suspend services in Russia, the White House said. Earlier, Zelenskyy said on Twitter that he held phone talks with Biden on Saturday, discussing Western support for Kyiv and anti-Russia sanctions. "President Biden highlighted the ongoing actions undertaken by the United States, its allies and partners, and private industry to raise the costs on Russia for its aggression in Ukraine. In particular, he welcomed the decision this evening by Visa and Mastercard to suspend service in Russia," the White House said in a Saturday statement following the Biden-Zelenskyy conversation. According to the release, Biden and Zelenskyy discussed the recent talks between Russia and Ukraine. The White House said that the Biden administration is boosting assistance to Kyiev and is "working closely with Congress to secure additional funding."

Biden welcomes decision by Visa, Mastercard to suspend services in Russia: White House

In a humanitarian relief to Ukrainians, the Biden administration has said that it is offering 'Temporary Protected Status' to the citizens of the eastern European nation in the United States on Thursday. &nbsp;

This move could protect thousands of the Ukrainians from being deported to the war-torn homeland. &nbsp;

Under the federal programme known as ‘Temporary Protected Status’, the nationals of Ukraine can remain in the country for up to 18 months. &nbsp;

Also Read |&nbsp;<a href="https://www.wionews.com/world/constructive-conversation-quad-leaders-discuss-ukraine-situation-458750">'Constructive conversation': Quad leaders discuss Ukraine situation</a>

To be eligible for the protection, the citizens of Ukraine need to be in the US since at least Tuesday. &nbsp;

The decision has been taken as the Russia has invaded Ukraine, the administration said. &nbsp;

It marks the largest conventional military action in Europe since World War II. The conflict has forced more than one million people to flee the country, causing humanitarian crisis. &nbsp;

Also Read:&nbsp;<a href="https://www.wionews.com/world/ukrainian-sniper-killed-russias-top-general-say-reports-458776" hreflang="en">Ukrainian sniper killed Russia's top general, say reports</a>

"Russia's premeditated and unprovoked attack on Ukraine has resulted in an ongoing war, senseless violence that has forced Ukrainians to seek refuge in other countries," Homeland Security Secretary Alejandro N Mayorkas said. &nbsp;

Around 30,000 Ukrainians may get benefitted through this move, as per the Migration Policy Institute, a non-partisan think tank. &nbsp;&nbsp;

In a statement, Senator Majority Leader Chuck Schumer, D-New York, said, "I applaud President Biden for taking decisive action so that Ukrainians can stay safely in America." &nbsp;&nbsp;

(With inputs from agencies)&nbsp;

In a humanitarian relief to Ukrainians, the Biden administration has said that it is offering 'Temporary Protected Status' to the citizens of the eastern European nation in the United States on Thursday.

In a humanitarian relief to Ukrainians, the Biden administration has said that it is offering 'Temporary Protected Status' to the citizens of the eastern European nation in the United States on Thursday. This move could protect thousands of the Ukrainians from being deported to the war-torn homeland. Under the federal programme known as ‘Temporary Protected Status’, the nationals of Ukraine can remain in the country for up to 18 months. Also Read | 'Constructive conversation': Quad leaders discuss Ukraine situation To be eligible for the protection, the citizens of Ukraine need to be in the US since at least Tuesday. The decision has been taken as the Russia has invaded Ukraine, the administration said. It marks the largest conventional military action in Europe since World War II. The conflict has forced more than one million people to flee the country, causing humanitarian crisis. Also Read: Ukrainian sniper killed Russia's top general, say reports "Russia's premeditated and unprovoked attack on Ukraine has resulted in an ongoing war, senseless violence that has forced Ukrainians to seek refuge in other countries," Homeland Security Secretary Alejandro N Mayorkas said. Around 30,000 Ukrainians may get benefitted through this move, as per the Migration Policy Institute, a non-partisan think tank. In a statement, Senator Majority Leader Chuck Schumer, D-New York, said, "I applaud President Biden for taking decisive action so that Ukrainians can stay safely in America." (With inputs from agencies)

In humanitarian relief, Biden administration offers 'Temporary Protected Status' to Ukrainians in US

'Putin has no idea what's coming', this was Joe Biden's message to Moscow in his first SOTU address. But what's making headlines is a gaffe where POTUS referred to Ukrainians as 'Iranians'. Palki Sharma reports.

Gravitas: Gaffes, Hits & Misses: Decoding Biden's State Of The Union Address

US President Joe Biden was in full flow during his State of the Union address in his support and defence of Ukraine in the face of Russian invasion. But as he neared the climax of his speech, where he intended to say Russian President Vladimir Putin would never win the hearts and minds of the Ukrainian people... the country came out wrong, shifting to Iran.&nbsp;

"Putin may circle Kyiv with tanks, but he’ll never gain the hearts and souls of the Iranian people," Biden said, to an awkward slow clap.

"He’ll never, he’ll never extinguish their love of freedom," he continued before someone yelled from the crowd and the trepidatious applause grew.

"And he will never, ever weaken the resolve of the free world."

Political experts jumped on the video as a symptom of the president's waning mental sharpness, and it rapidly went viral online.&nbsp;

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President Biden: 
 
"Putin may circle Kyiv with tanks, but he'll gain the hearts and souls of the Iranian people." <a href="https://t.co/led9r2OHMv">pic.twitter.com/led9r2OHMv</a>
— Mark Bednar (@MarkBednar) <a href="https://twitter.com/MarkBednar/status/1498846941605675012?ref_src=twsrc%5Etfw">March 2, 2022</a></blockquote>
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Iranian People? <a href="https://t.co/i3vjPM0Ie4">pic.twitter.com/i3vjPM0Ie4</a>
— KopiteTX (@KopiteTx) <a href="https://twitter.com/KopiteTx/status/1498845759768309767?ref_src=twsrc%5Etfw">March 2, 2022</a></blockquote>
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At that point, Biden was already facing criticism about his "mental sharpness" coming into his first State of the Union address, whether it was due to a stutter, mistake, or mixing up geography.&nbsp;

This is not the first time that the 79-year-old Biden has tripped over words. As a child he had problems with his speech and had to work to overcome a stutter and it has been widely reported that he used to spend long hours reciting works of Yeats and Emerson to overcome his speech condition.

Last year social media had pounced on his gaffe when he mistakenly called his Vice President Kamala Harris as "President Harris". 
 
Watch | Gravitas: Western companies profiting from Russia's war

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-western-companies-profiting-from-russias-war-457954/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

(With inputs from agencies)

US President Joe Biden was in full flow during his State of the Union address in his support and defence of Ukraine in the face of Russian invasion. But as he neared the climax of his speech, where he intended to say Russian President Vladimir Putin would never win the hearts and minds of the Ukrainian people.

US President Joe Biden was in full flow during his State of the Union address in his support and defence of Ukraine in the face of Russian invasion. But as he neared the climax of his speech, where he intended to say Russian President Vladimir Putin would never win the hearts and minds of the Ukrainian people... the country came out wrong, shifting to Iran. "Putin may circle Kyiv with tanks, but he’ll never gain the hearts and souls of the Iranian people," Biden said, to an awkward slow clap. "He’ll never, he’ll never extinguish their love of freedom," he continued before someone yelled from the crowd and the trepidatious applause grew. "And he will never, ever weaken the resolve of the free world." Political experts jumped on the video as a symptom of the president's waning mental sharpness, and it rapidly went viral online. President Biden: "Putin may circle Kyiv with tanks, but he'll gain the hearts and souls of the Iranian people." pic.twitter.com/led9r2OHMv — Mark Bednar (@MarkBednar) March 2, 2022 × Iranian People? pic.twitter.com/i3vjPM0Ie4 — KopiteTX (@KopiteTx) March 2, 2022 × At that point, Biden was already facing criticism about his "mental sharpness" coming into his first State of the Union address, whether it was due to a stutter, mistake, or mixing up geography. This is not the first time that the 79-year-old Biden has tripped over words. As a child he had problems with his speech and had to work to overcome a stutter and it has been widely reported that he used to spend long hours reciting works of Yeats and Emerson to overcome his speech condition. Last year social media had pounced on his gaffe when he mistakenly called his Vice President Kamala Harris as "President Harris". Watch | Gravitas: Western companies profiting from Russia's war (With inputs from agencies)

Watch | Did Biden say Iranian people instead of Ukrainians in State of the Union address?

US President Joe Biden is delivering his first State of the Union address in the chamber of the United States House of Representatives. Biden said that the US needs good mental health services.

US President Biden's State of the Union address: 'We need good mental health services'

US President Joe Biden is delivering his first State of the Union address in the chamber of the United States House of Representatives. Biden Pushed for made in America products during the address.

US President Joe Biden pushes for made in America products during his State of the Union address

US President Joe Biden is delivering his first State of the Union address in the chamber of the United States House of Representatives. Biden Pushed for made in America products during the address. He also said that Gun manufacturing is the only industry in US that can't be sued.

Biden's State of the Union address: Gun manufacturing is the only industry in US that can't be sued

US President Joe Biden is delivering his first State of the Union address in the chamber of the United States House of Representatives. Biden Pushed for made in America products during the address and said the businesses to lower costs to fight inflation.

US President Biden's State of the Union address: 'Lower your cost, not wages to fight inflation'

President of the United States delivered his first state of the union address last night with a stirring rallying cry for the free world declaring Russia's invasion of Ukraine as a proxy for the new duel between democracy and tyranny.

US president Joe Biden blames Putin for trying to divide West

US President Joe Biden delivered his first state of the union address today it came as Russia continues to intensify its attack on Ukraine. Here are some of the recent announcements in the ongoing situation.

Biden: Putin isolated from the world more than ever

US President Joe Biden will deliver his first State of the Union address in the chamber of the United States House of Representatives. It will be addressed to the 117th United States Congress.

US President Biden's first state of the Union address today

US President Joe Biden detailing a new round of sanctions against Russia after it invaded Ukraine. President Joe Biden condemned Russia’s “unprovoked and unjustified” military attack on Ukraine and launched another round of sanctions against Moscow. Voice of America’s Chief White House correspondent Patsy Widakuswara has this report.

US President Joe Biden hits Russia with new sanctions | WION-VOA CO-Production

Along with sanctions on Moscow, the United States is also deploying additional forces in Germany to bolster the NATO military alliance. Biden has also stated that every inch of the NATO alliance will be defended by the NATO forces.

US to deploy 7000 additional forces to Germany amid ongoing Russia-Ukraine conflict

'It was a premeditated attack, Russia will bear consequences,' .US president Joe Biden says Russia will face ‘severe cost’ for attacking Ukraine, accusing president Vladimir Putin of choosing unprovoked war.

Russia-Ukraine crisis: 'It was a premeditated attack, Russia will bear consequences,' says Joe Biden

As President Joe Biden prepares to nominate the first Black woman to the&nbsp;Supreme&nbsp;Court, several leading candidates for the coveted seat on the nation's highest&nbsp;court&nbsp;have emerged.

The Democratic president has said he will reveal his choice by the end of February, and has interviewed three potential nominees so far according to US media.

The White House has been tight-lipped about the search for a justice to replace Justice Stephen Breyer, 83, a liberal stalwart who plans to retire in June at the end of the&nbsp;court's current term.

"The president has not made a decision about who he is going to nominate," White House Press Secretary Jen Psaki told reporters on Tuesday.

"I'm not -- still not -- going to get into details about the internal process," Psaki said.

The selection of a&nbsp;Supreme&nbsp;Court&nbsp;justice involves extensive background checks to prevent unwelcome surprises during Senate nomination hearings.

There have been two African-American&nbsp;Supreme&nbsp;Court&nbsp;justices: Thurgood Marshall, who served from 1967 to 1991, and Clarence Thomas, a conservative who succeeded Marshall and remains on the bench.

The following are reported to be at the top of the list for the seat on the nation's highest&nbsp;court:

Ketanji Brown Jackson

Ketanji Brown Jackson, 51, a judge on the US Circuit&nbsp;Court&nbsp;of Appeals, does not have a background typical of other nominees.

While many judges have made their mark as prosecutors, Jackson spent two years as a federal public defender representing indigent defendants.

She has also served on the US Sentencing Commission, an independent agency created by Congress to address sentencing disparities.

And Jackson has personal experience with the harsh sentences meted out for drug crimes in the United States -- an uncle was sentenced to life in prison in 1989 for cocaine possession.

After graduation, she worked for a series of elite law firms in Boston and Washington, and as a law clerk for Breyer.

Jackson was nominated to be a US District&nbsp;Court&nbsp;judge by former president Barack Obama in 2013 and to the US&nbsp;Court&nbsp;of Appeals for the DC Circuit by Biden in March 2021.

Her most notable ruling came in 2019 when she said a former White House counsel to president Donald Trump had to obey a congressional subpoena.

"Presidents are not kings," Jackson wrote.

Jackson is married to a surgeon. They have two daughters.

Michelle Childs

Michelle Childs, 55, an expert in labor law, is the first Black woman to become a partner in a major law firm in her home state of South Carolina.

Most&nbsp;Supreme&nbsp;Court&nbsp;justices are products of Ivy League schools such as Harvard or Yale but Childs earned her law degree from the University of South Carolina.

Her South Carolina ties could prove decisive in securing her a place on the nine-member&nbsp;court.

Childs enjoys the backing of Jim Clyburn, a powerful Black congressman from South Carolina whose support helped Biden win the state's Democratic presidential primary and propel him to the White House.

Childs also has the vocal support of an influential Republican senator, Lindsey Graham of South Carolina.

Born in Detroit, Childs moved to South Carolina with her mother when she was 14 after her parents divorced.

Her father, a police officer, stayed in Detroit and died shortly afterwards of a self-inflicted gunshot wound.

Childs earned a full scholarship to the University of South Florida and won the Miss Black Florida beauty pageant in 1986.

She became a US District Judge in 2009 and was nominated to the US&nbsp;Court&nbsp;of Appeals for the DC Circuit by Biden in December.

Childs' candidacy has come under fire from some on the left because of her past representation of management against employees.

Childs is married to a gastroenterologist. They have a daughter.

Leondra Kruger&nbsp;

Leondra Kruger, 45, has had a meteoric rise through the judicial ranks and, if named to the&nbsp;court, would be the youngest of the justices on the bench.

Kruger graduated with honors from Harvard and earned her law degree at Yale, where she was the first Black editor-in-chief of the Yale Law Journal.

At the age of 31, Kruger went to work for the US Solicitor General's office in the Obama administration, representing the federal government in 12 cases before the&nbsp;Supreme&nbsp;Court.

When she was just 38, Kruger was nominated to the California&nbsp;Supreme&nbsp;Court&nbsp;although she had no experience as a judge.

Kruger has forged a reputation as a moderate progressive and pragmatic justice.

Kruger grew up in the suburbs of Los Angeles, the daughter of two doctors. Her mother is of Jamaican origin and her father, who died in 2005, was from a family of European Jewish immigrants.

She&nbsp;worked for a private law firm in Washington and then as a law clerk, notably to&nbsp;Supreme&nbsp;Court&nbsp;Justice John Paul Stevens.

After Biden entered the White House, he reportedly asked Kruger on two occasions to return to Washington to become the solicitor general but she declined.

Kruger is married to a fellow lawyer. They have two children.

As President Joe Biden prepares to nominate the first Black woman to the Supreme Court, several leading candidates for the coveted seat on the nation's highest court have emerged.

As President Joe Biden prepares to nominate the first Black woman to the Supreme Court, several leading candidates for the coveted seat on the nation's highest court have emerged. The Democratic president has said he will reveal his choice by the end of February, and has interviewed three potential nominees so far according to US media. The White House has been tight-lipped about the search for a justice to replace Justice Stephen Breyer, 83, a liberal stalwart who plans to retire in June at the end of the court's current term. "The president has not made a decision about who he is going to nominate," White House Press Secretary Jen Psaki told reporters on Tuesday. "I'm not -- still not -- going to get into details about the internal process," Psaki said. The selection of a Supreme Court justice involves extensive background checks to prevent unwelcome surprises during Senate nomination hearings. There have been two African-American Supreme Court justices: Thurgood Marshall, who served from 1967 to 1991, and Clarence Thomas, a conservative who succeeded Marshall and remains on the bench. The following are reported to be at the top of the list for the seat on the nation's highest court: Ketanji Brown Jackson Ketanji Brown Jackson, 51, a judge on the US Circuit Court of Appeals, does not have a background typical of other nominees. While many judges have made their mark as prosecutors, Jackson spent two years as a federal public defender representing indigent defendants. She has also served on the US Sentencing Commission, an independent agency created by Congress to address sentencing disparities. And Jackson has personal experience with the harsh sentences meted out for drug crimes in the United States -- an uncle was sentenced to life in prison in 1989 for cocaine possession. After graduation, she worked for a series of elite law firms in Boston and Washington, and as a law clerk for Breyer. Jackson was nominated to be a US District Court judge by former president Barack Obama in 2013 and to the US Court of Appeals for the DC Circuit by Biden in March 2021. Her most notable ruling came in 2019 when she said a former White House counsel to president Donald Trump had to obey a congressional subpoena. "Presidents are not kings," Jackson wrote. Jackson is married to a surgeon. They have two daughters. Michelle Childs Michelle Childs, 55, an expert in labor law, is the first Black woman to become a partner in a major law firm in her home state of South Carolina. Most Supreme Court justices are products of Ivy League schools such as Harvard or Yale but Childs earned her law degree from the University of South Carolina. Her South Carolina ties could prove decisive in securing her a place on the nine-member court. Childs enjoys the backing of Jim Clyburn, a powerful Black congressman from South Carolina whose support helped Biden win the state's Democratic presidential primary and propel him to the White House. Childs also has the vocal support of an influential Republican senator, Lindsey Graham of South Carolina. Born in Detroit, Childs moved to South Carolina with her mother when she was 14 after her parents divorced. Her father, a police officer, stayed in Detroit and died shortly afterwards of a self-inflicted gunshot wound. Childs earned a full scholarship to the University of South Florida and won the Miss Black Florida beauty pageant in 1986. She became a US District Judge in 2009 and was nominated to the US Court of Appeals for the DC Circuit by Biden in December. Childs' candidacy has come under fire from some on the left because of her past representation of management against employees. Childs is married to a gastroenterologist. They have a daughter. Leondra Kruger Leondra Kruger, 45, has had a meteoric rise through the judicial ranks and, if named to the court, would be the youngest of the justices on the bench. Kruger graduated with honors from Harvard and earned her law degree at Yale, where she was the first Black editor-in-chief of the Yale Law Journal. At the age of 31, Kruger went to work for the US Solicitor General's office in the Obama administration, representing the federal government in 12 cases before the Supreme Court. When she was just 38, Kruger was nominated to the California Supreme Court although she had no experience as a judge. Kruger has forged a reputation as a moderate progressive and pragmatic justice. Kruger grew up in the suburbs of Los Angeles, the daughter of two doctors. Her mother is of Jamaican origin and her father, who died in 2005, was from a family of European Jewish immigrants. She worked for a private law firm in Washington and then as a law clerk, notably to Supreme Court Justice John Paul Stevens. After Biden entered the White House, he reportedly asked Kruger on two occasions to return to Washington to become the solicitor general but she declined. Kruger is married to a fellow lawyer. They have two children.

Biden poised to nominate first Black woman on Supreme Court

Joe Biden's approval ratings tanked amid his failed response to the Ukraine crisis. Did Biden's confused messaging give Putin the edge in Europe? What could Biden have done differently? Palki Sharma tells you.

Gravitas: Biden's ratings tank amid Russia tensions

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