Russia's May 9 Victory Day celebrations to mark anniversary of Soviet Union's victory over Nazi Germany

People fleeing what had been the relative safety of western Ukraine joined thousands crossing into eastern Europe on Monday after Russia attacked a Ukrainian base near the border with NATO-member Poland.

Ukraine said 35 people were killed at the base on Sunday. Moscow said up to 180 "foreign mercenaries" died and a large number of foreign weapons were destroyed.

Ukraine also reported renewed air strikes on an airport in the west of the country.

Also read |&nbsp;<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">UK warns Russia might be planning a chemical attack on Ukraine; US, NATO echo the concern</a>

The number of&nbsp;refugees&nbsp;fleeing Ukraine since Russia invaded on Feb. 24 climbed to more than 2.8 million, United Nations data showed on Monday, in what has become Europe's fastest-growing refugee crisis since World War Two.

European Union officials have said 5 million may end up fleeing while others have put the figure higher.

Millions of people have also been displaced inside Ukraine, with many evacuated only as far as the quieter western regions, including to cities like Lviv.

Myroslava, 52, fled her home in the Ternopil region, in western Ukraine, and was waiting in a terminal of Krakow station in Poland to be picked up by acquaintances. She did not know where she would stay.

"We left because of the attack yesterday," she said, adding that she had hoped western Ukraine would be safe. "We weren't planning to leave, but as it was so close we decided to."

Polish Prime Minister Mateusz Morawiecki told a news conference with his counterparts from Ukraine and Lithuania that the attack near its border showed Russia wanted to "create panic among the civilian population".

Mira from Kyiv, travelling with her mother to Warsaw, said she had been surprised by the Russian attack near Lviv. "I just panicked and felt scared," she said.

Battles continued around many of Ukraine's main cities, including the capital Kyiv. Ukraine said it would try to evacuate civilians through 10 humanitarian corridors on Monday.

Russia denies targeting civilians, describing its actions as a "special operation" to demilitarise and "de-Nazify" Ukraine. Ukraine and Western allies call this a baseless pretext for Russia's invasion of the democratic country of 44 million.

Also read |&nbsp;<a href="https://www.wionews.com/world/us-adds-11-members-of-russias-defense-enterprise-to-sanctions-list-462335">US adds 11 members of Russia's Defense Enterprise to sanctions list</a>

"Houses were blown up," Alena Kasinyska, a refugee from the town of Mykolaiv, in southern Ukraine, said after crossing into Romania at Isaccea, a busy border crossing in the Danube delta. "People have no place to live, we are scared."

Ukraine said it had begun "hard" talks on a ceasefire, immediate withdrawal of troops and security guarantees with Russia on Monday.

Both sides reported rare progress at the weekend after earlier rounds primarily focused on ceasefires to get aid to cities under siege by Russian forces and evacuate civilians. Those truces have frequently failed.

Beds and Soup

Frontline states such as Poland, which has welcomed well over half of the total number fleeing, and Slovakia, Romania, Hungary and Moldova, have taken in the vast majority of the&nbsp;refugees, some of whom have then headed on further west.

Poland's border guard said about 1.76 million people had entered the country since the fighting started, with 18,400 arriving during the early hours of Monday.

Temporary beds and make-shift canteens have sprung up at convention centers and disused shopping malls around the region while volunteers work long hours handing out free hot drinks and SIM cards, or shuttling&nbsp;refugees&nbsp;further west.

At a youth education center near Auschwitz, normally dedicated to preserving memories of the Holocaust and World War Two, nearly 2,000 meals had been served to&nbsp;refugees&nbsp;in the past couple of weeks.

Also read |&nbsp;<a href="https://www.wionews.com/world/20-killed-28-injured-in-missile-strike-by-ukraine-says-russia-462336">20 killed, 28 injured in missile strike by Ukraine, says Russia</a>

Further east, an international team of chefs and aid workers in the town Przemysl have served thousands of meals daily to the&nbsp;refugees&nbsp;streaming through Poland's busiest border crossing, Medyka, located nearby.

"We do a lot of soups because it's very cold and the&nbsp;refugees&nbsp;that are coming, they cannot carry like a big plate of food because they are carrying all their belongings," said Clara, a volunteer chef for aid NGO World Central Kitchen.

"We do hot chocolate, we do a lot of baby food as well."

Sympathy over the plight of their neighbours and deep-set memories of Moscow's dominance has seen a groundswell of volunteer efforts, but the sheer scale of the refugee crisis has raised fears of being overwhelmed.

Watch |&nbsp;Gravitas: Ukraine, Russia optimistic about round 4 of talks

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-ukraine-russia-optimistic-about-round-4-of-talks-462334/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

Some countries further away from Ukraine's borders, such as the Czech Republic, have also taken in tens of thousands of&nbsp;refugees, piling pressure on local authorities, while others, like Lithuania, have only just begun to receive significant numbers, with about 1,000 now arriving every day.

"Most of these are women with small children, some with only a handbag for luggage," said Kristina Meide, director of the Lithuanian Red Cross.

People fleeing what had been the relative safety of western Ukraine joined thousands crossing into eastern Europe on Monday after Russia attacked a Ukrainian base near the border with NATO-member Poland.

People fleeing what had been the relative safety of western Ukraine joined thousands crossing into eastern Europe on Monday after Russia attacked a Ukrainian base near the border with NATO-member Poland. Ukraine said 35 people were killed at the base on Sunday. Moscow said up to 180 "foreign mercenaries" died and a large number of foreign weapons were destroyed. Ukraine also reported renewed air strikes on an airport in the west of the country. Also read | UK warns Russia might be planning a chemical attack on Ukraine; US, NATO echo the concern The number of refugees fleeing Ukraine since Russia invaded on Feb. 24 climbed to more than 2.8 million, United Nations data showed on Monday, in what has become Europe's fastest-growing refugee crisis since World War Two. European Union officials have said 5 million may end up fleeing while others have put the figure higher. Millions of people have also been displaced inside Ukraine, with many evacuated only as far as the quieter western regions, including to cities like Lviv. Myroslava, 52, fled her home in the Ternopil region, in western Ukraine, and was waiting in a terminal of Krakow station in Poland to be picked up by acquaintances. She did not know where she would stay. "We left because of the attack yesterday," she said, adding that she had hoped western Ukraine would be safe. "We weren't planning to leave, but as it was so close we decided to." Polish Prime Minister Mateusz Morawiecki told a news conference with his counterparts from Ukraine and Lithuania that the attack near its border showed Russia wanted to "create panic among the civilian population". Mira from Kyiv, travelling with her mother to Warsaw, said she had been surprised by the Russian attack near Lviv. "I just panicked and felt scared," she said. Battles continued around many of Ukraine's main cities, including the capital Kyiv. Ukraine said it would try to evacuate civilians through 10 humanitarian corridors on Monday. Russia denies targeting civilians, describing its actions as a "special operation" to demilitarise and "de-Nazify" Ukraine. Ukraine and Western allies call this a baseless pretext for Russia's invasion of the democratic country of 44 million. Also read | US adds 11 members of Russia's Defense Enterprise to sanctions list "Houses were blown up," Alena Kasinyska, a refugee from the town of Mykolaiv, in southern Ukraine, said after crossing into Romania at Isaccea, a busy border crossing in the Danube delta. "People have no place to live, we are scared." Ukraine said it had begun "hard" talks on a ceasefire, immediate withdrawal of troops and security guarantees with Russia on Monday. Both sides reported rare progress at the weekend after earlier rounds primarily focused on ceasefires to get aid to cities under siege by Russian forces and evacuate civilians. Those truces have frequently failed. Beds and Soup Frontline states such as Poland, which has welcomed well over half of the total number fleeing, and Slovakia, Romania, Hungary and Moldova, have taken in the vast majority of the refugees, some of whom have then headed on further west. Poland's border guard said about 1.76 million people had entered the country since the fighting started, with 18,400 arriving during the early hours of Monday. Temporary beds and make-shift canteens have sprung up at convention centers and disused shopping malls around the region while volunteers work long hours handing out free hot drinks and SIM cards, or shuttling refugees further west. At a youth education center near Auschwitz, normally dedicated to preserving memories of the Holocaust and World War Two, nearly 2,000 meals had been served to refugees in the past couple of weeks. Also read | 20 killed, 28 injured in missile strike by Ukraine, says Russia Further east, an international team of chefs and aid workers in the town Przemysl have served thousands of meals daily to the refugees streaming through Poland's busiest border crossing, Medyka, located nearby. "We do a lot of soups because it's very cold and the refugees that are coming, they cannot carry like a big plate of food because they are carrying all their belongings," said Clara, a volunteer chef for aid NGO World Central Kitchen. "We do hot chocolate, we do a lot of baby food as well." Sympathy over the plight of their neighbours and deep-set memories of Moscow's dominance has seen a groundswell of volunteer efforts, but the sheer scale of the refugee crisis has raised fears of being overwhelmed. Watch | Gravitas: Ukraine, Russia optimistic about round 4 of talks Some countries further away from Ukraine's borders, such as the Czech Republic, have also taken in tens of thousands of refugees, piling pressure on local authorities, while others, like Lithuania, have only just begun to receive significant numbers, with about 1,000 now arriving every day. "Most of these are women with small children, some with only a handbag for luggage," said Kristina Meide, director of the Lithuanian Red Cross.

Europe's fastest growing refugee crisis: In 20 days, 2.8 million people have fled Ukraine

Card payment giants Visa and Mastercard announced Saturday they will suspend operations in Russia, the latest major US firms to join the business freeze-out&nbsp;of Moscow over its invasion of Ukraine.

"Noting the unprecedented nature of the current conflict and the uncertain economic environment," Mastercard said it had "decided to suspend our network services in Russia."

Visa, for its part, said that "effective immediately" it would "work with its clients and partners within Russia to cease all Visa transactions over the coming days."

US President Joe Biden "welcomed the decision" during a phone call with his Ukrainian counterpart Volodymyr Zelensky in which the two discussed US, ally and private industry actions to deter Russia from aggression, according to a White House readout.

Also read |&nbsp;<a href="https://www.wionews.com/world/zelensky-holds-phone-call-with-joe-biden-pushes-for-more-us-support-to-ukraine-459443">Zelensky holds phone call with Joe Biden, pushes for more US support to Ukraine</a>

Major corporations across a range of industries have halted business in Russia since its invasion began on February 24, including everything from US-based tech firms such as Intel and Airbnb to French luxury giants LVMH, Hermes and Chanel.

Visa and Mastercard had already announced that they were complying with US and international sanctions imposed on Russia in the wake of its attack.

"Our colleagues, our customers and our partners have been affected in ways that most of us could not imagine," Mastercard said, stating that its cards issued by Russian banks would no longer be supported by the company's network.

Visa similarly said that cards issued in Russia would no longer work outside the country.

Both companies said cards issued abroad would no longer work in Russia.

&nbsp;Russian banks downplay effects&nbsp;

"We are compelled to act following Russia's unprovoked invasion of Ukraine, and the unacceptable events that we have witnessed," Visa CEO Al Kelly said.

Russia's major banks, including its largest lender Sberbank and the Russia Central Bank, downplayed the effects that the cards' suspensions would have on their clients.

"All Visa and Mastercard bank cards issued by Russian banks will continue to operate normally on Russian territory until their expiration date," the Russia Central Bank said.

Sberbank said in a statement on its official Telegram account that the cards "can be used for operations in the Russian territory -- to withdraw cash, make transfers using the card number, and for payment at offline as well as at online Russian stores."

Also read |&nbsp;<a href="https://www.wionews.com/world/ukrainian-president-volodymyr-zelensky-needs-fighter-jets-russian-oil-embargo-says-report-459441">Ukrainian President Volodymyr Zelensky needs fighter jets, Russian oil embargo, says report</a>

The cards would continue to work on Russian territory, it said, because all payments in Russia are made through a national system and do not depend on foreign systems.

However, the central bank warned that Russians traveling abroad should carry alternate means of payment.

Mastercard added that it would continue to provide pay and benefits to its nearly 200 employees in Russia.

Visa's and Mastercard's announcements came hours after PayPal also halted its services in Russia.

Ukrainian deputy prime minister Mykhailo Fedorov tweeted a letter early Saturday from PayPal CEO Dan Schulman officially announcing the stop.

Watch |&nbsp;Gravitas Plus | Ukraine War: Are we heading towards World War III

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-plus-ukraine-war-are-we-heading-towards-world-war-iii-459352/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

"Under the current circumstances, we are suspending PayPal services in Russia," Schulman said in the letter.

He added that PayPal would continue to support its staff in the region and would focus on "enabling our customers and our global employee community to support" humanitarian efforts in Ukraine.

&nbsp;

Card payment giants Visa and Mastercard announced Saturday they will suspend operations in Russia, the latest major US firms to join the business freeze-out of Moscow over its invasion of Ukraine.

Card payment giants Visa and Mastercard announced Saturday they will suspend operations in Russia, the latest major US firms to join the business freeze-out of Moscow over its invasion of Ukraine. "Noting the unprecedented nature of the current conflict and the uncertain economic environment," Mastercard said it had "decided to suspend our network services in Russia." Visa, for its part, said that "effective immediately" it would "work with its clients and partners within Russia to cease all Visa transactions over the coming days." US President Joe Biden "welcomed the decision" during a phone call with his Ukrainian counterpart Volodymyr Zelensky in which the two discussed US, ally and private industry actions to deter Russia from aggression, according to a White House readout. Also read | Zelensky holds phone call with Joe Biden, pushes for more US support to Ukraine Major corporations across a range of industries have halted business in Russia since its invasion began on February 24, including everything from US-based tech firms such as Intel and Airbnb to French luxury giants LVMH, Hermes and Chanel. Visa and Mastercard had already announced that they were complying with US and international sanctions imposed on Russia in the wake of its attack. "Our colleagues, our customers and our partners have been affected in ways that most of us could not imagine," Mastercard said, stating that its cards issued by Russian banks would no longer be supported by the company's network. Visa similarly said that cards issued in Russia would no longer work outside the country. Both companies said cards issued abroad would no longer work in Russia. Russian banks downplay effects "We are compelled to act following Russia's unprovoked invasion of Ukraine, and the unacceptable events that we have witnessed," Visa CEO Al Kelly said. Russia's major banks, including its largest lender Sberbank and the Russia Central Bank, downplayed the effects that the cards' suspensions would have on their clients. "All Visa and Mastercard bank cards issued by Russian banks will continue to operate normally on Russian territory until their expiration date," the Russia Central Bank said. Sberbank said in a statement on its official Telegram account that the cards "can be used for operations in the Russian territory -- to withdraw cash, make transfers using the card number, and for payment at offline as well as at online Russian stores." Also read | Ukrainian President Volodymyr Zelensky needs fighter jets, Russian oil embargo, says report The cards would continue to work on Russian territory, it said, because all payments in Russia are made through a national system and do not depend on foreign systems. However, the central bank warned that Russians traveling abroad should carry alternate means of payment. Mastercard added that it would continue to provide pay and benefits to its nearly 200 employees in Russia. Visa's and Mastercard's announcements came hours after PayPal also halted its services in Russia. Ukrainian deputy prime minister Mykhailo Fedorov tweeted a letter early Saturday from PayPal CEO Dan Schulman officially announcing the stop. Watch | Gravitas Plus | Ukraine War: Are we heading towards World War III "Under the current circumstances, we are suspending PayPal services in Russia," Schulman said in the letter. He added that PayPal would continue to support its staff in the region and would focus on "enabling our customers and our global employee community to support" humanitarian efforts in Ukraine.

Russia Ukraine Crisis: Visa, Mastercard suspend operations in Russia

Sanctions on Russia are starting to wreak havoc on global trade, with potentially devastating consequences for energy and grain importers while also generating ripple effects across a world still struggling with pandemic-induced supply chain disruptions.

Since Russia's invasion of Ukraine, hundreds of tankers and bulk carriers have been diverted away from the Black Sea, while dozens more have been stranded at ports and at sea unable to unload their valuable cargoes. Russia is a leading exporter of grains and a major supplier of crude oil, metals, wood and plastics&nbsp;all used worldwide in a range of products and by a multitude of industries from steelmakers to car manufacturers.

Also read |<a href="https://www.wionews.com/world/russia-ukraine-war-chinese-broadcaster-censors-call-for-peace-at-paralympic-games-opening-ceremony-459155">&nbsp;Russia-Ukraine war: Chinese broadcaster 'censors' call for peace at Paralympic Games opening ceremony</a>

Only a small handful of Russia's 2,000 cargo and tanker ships have been sanctioned by Western powers, but freezing the assets of the country's biggest banks means the business of importing and exporting from Russia will take a major hit. Intensifying the squeeze are companies from Apple and Nike to major shippers like Maersk abandoning the country, whose extensive trade ties with the West have been all but severed.

This is an earthquake like we've never seen before,&nbsp;said Ami Daniel, a co-founder of Windward, a maritime intelligence firm that advises governments. He added, Companies are going well beyond what's legally required and taking actions based on their own values before their customers even demand it.

One potential escape valve for Russian exports is China, whose fast-growing economy is thirsty for natural resources. But China, perhaps the biggest beneficiary of globalization, so far has shown little appetite to fully back President Vladimir Putin despite abstaining from a U.N. Vote condemning the land grab.

The strains are already being felt at Interunity Management Corp SA, a family-run Greek shipping company whose 60 oil tankers and bulk carriers are operated by 200 Russian and Ukrainian sea captains and officers.

After the invasion, the Russian half of Interunity's workforce wondered how they'd get home after the European Union imposed a flight ban on their country. The Ukrainian half didn't know if they'd have a home to return to.

Also read |&nbsp;A<a href="https://www.wionews.com/world/ahead-of-south-koreas-polls-kim-jong-led-north-holds-2022s-ninth-missile-test-459144">head of South Korea’s polls, Kim Jong-led North holds 2022’s ninth missile test</a>

One Ukrainian senior officer stranded on a tanker in the Gulf of Mexico was so distraught that he demanded to be allowed to disembark months before his contract ended, said George Mangos, one of Interunity's directors.

He told me he wanted to get off at the next port so he could fight for his homeland, Mangos said. Operating a highly sophisticated tanker with a dangerous cargo is stressful even under normal situations, so all you can do is ask people to focus on the job and leave the politics aside. It's hard, but these are very stoic people, and I've been impressed by their dedication.

So far, the war's impact on global trade has been most severe in the Black Sea, where Russian and Ukrainian ports are major hubs for wheat and corn. Traffic has ground to a halt, effectively shutting down the world's second-largest grain exporting region.

Unlike oil production, which can be ramped up quickly elsewhere, boosting grain supplies takes time and the sheer volume that could be diverted as a result of war and sanctions Ukraine accounts for 16% of global corn exports and together with Russia 30% of wheat exports&nbsp;means poorer countries that depend on imports could face major supply shocks.

The question is not whether there will be serious economic effects and critical food shortages in already fragile countries, the question is what Russia will do with that and how the West will react, said Rohini Ralby, a director at I.R. Consilium, a U.S.-based maritime consulting firm.

Among the countries most at risk are Egypt, India and Turkey, all of which rely heavily on Russia for everything from staples used to make flatbread to natural gas and tourism.

Around 78% of Turkey's wheat imports come from Russia and another 9% from Ukraine. Much of those supplies are used in Turkey's food industry, a major exporter itself. India imports about 80% of its oil, much of it from Russia, and metals from Russia to supply the world's fifth-largest automobile industry.

Also read |&nbsp;<a href="https://www.wionews.com/world/russia-ukraine-conflict-at-least-three-plots-to-assassinate-ukrainian-president-zelensky-foiled-say-reports-459114">Russia-Ukraine conflict: At least 3 plots to 'assassinate Ukrainian President Zelensky foiled' in last week</a>

In the U.S., the biggest impact will be felt at the gas pump, where higher prices are expected to add to inflation already running at the fastest rate in four decades. Russia was the third-largest source of oil products sold in the U.S. Last year&nbsp;behind only Mexico and Canada&nbsp;and responsible for 8% of all imports. Russia is also the United States' second-largest supplier of platinum, a metal used to build exhausts for automobiles.

But overall, Russia was only the 20th-largest supplier of goods for the United States in 2019, according to the U.S. Trade data. 
While the Biden administration has held back from a blanket Russian trade embargo or targeting Russia's energy sector, to limit the pain on the West, that's done little to calm markets.

Wheat prices have jumped more than 55% since the week before the invasion. Oil prices, which had been steadily rising since the start of the year due to demand from a recovering global economy, soared past $110 a barrel for the first time since 2013.

And the rates charged to charter giant oil tankers worldwide have jumped as much as 400% as oil traders scramble to secure capacity that become suddenly scarce.

It's not yet clear how economic warfare on Russia will shake out and what other unintended consequences may be in store. While overcompliance with sanctions is a frequent problem, never in the past have restrictions been imposed so swiftly and coordinated so closely among U.S. Allies to target a global power.

The situation alarms Tinglong Dai, a business professor who studies supply chains at Johns Hopkins University. Since the end of the Cold War, the bedrock of global trade has been a separation of geopolitics and business and an assumption that rational decision-making will always prevail, Dai said.

Watch |&nbsp;Gravitas: Assessing the Ukraine War in numbers

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-assessing-the-ukraine-war-in-numbers-459090/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

Both of those have been destroyed by Russia, says Dai, adding that a new sort of Iron Curtain" could soon emerge, with Russia and its allies on one side and the West on the other.

It's no longer possible to avoid picking sides, and the consequences of this reconfiguration of global supply chains in terms of more poverty, loss of innovation and job opportunities is something we will all have to pay for, he said.&nbsp;

Sanctions on Russia are starting to wreak havoc on global trade, with potentially devastating consequences for energy and grain importers while also generating ripple effects across a world still struggling with pandemic-induced supply chain disruptions.

Sanctions on Russia are starting to wreak havoc on global trade, with potentially devastating consequences for energy and grain importers while also generating ripple effects across a world still struggling with pandemic-induced supply chain disruptions. Since Russia's invasion of Ukraine, hundreds of tankers and bulk carriers have been diverted away from the Black Sea, while dozens more have been stranded at ports and at sea unable to unload their valuable cargoes. Russia is a leading exporter of grains and a major supplier of crude oil, metals, wood and plastics all used worldwide in a range of products and by a multitude of industries from steelmakers to car manufacturers. Also read | Russia-Ukraine war: Chinese broadcaster 'censors' call for peace at Paralympic Games opening ceremony Only a small handful of Russia's 2,000 cargo and tanker ships have been sanctioned by Western powers, but freezing the assets of the country's biggest banks means the business of importing and exporting from Russia will take a major hit. Intensifying the squeeze are companies from Apple and Nike to major shippers like Maersk abandoning the country, whose extensive trade ties with the West have been all but severed. This is an earthquake like we've never seen before, said Ami Daniel, a co-founder of Windward, a maritime intelligence firm that advises governments. He added, Companies are going well beyond what's legally required and taking actions based on their own values before their customers even demand it. One potential escape valve for Russian exports is China, whose fast-growing economy is thirsty for natural resources. But China, perhaps the biggest beneficiary of globalization, so far has shown little appetite to fully back President Vladimir Putin despite abstaining from a U.N. Vote condemning the land grab. The strains are already being felt at Interunity Management Corp SA, a family-run Greek shipping company whose 60 oil tankers and bulk carriers are operated by 200 Russian and Ukrainian sea captains and officers. After the invasion, the Russian half of Interunity's workforce wondered how they'd get home after the European Union imposed a flight ban on their country. The Ukrainian half didn't know if they'd have a home to return to. Also read | Ahead of South Korea’s polls, Kim Jong-led North holds 2022’s ninth missile test One Ukrainian senior officer stranded on a tanker in the Gulf of Mexico was so distraught that he demanded to be allowed to disembark months before his contract ended, said George Mangos, one of Interunity's directors. He told me he wanted to get off at the next port so he could fight for his homeland, Mangos said. Operating a highly sophisticated tanker with a dangerous cargo is stressful even under normal situations, so all you can do is ask people to focus on the job and leave the politics aside. It's hard, but these are very stoic people, and I've been impressed by their dedication. So far, the war's impact on global trade has been most severe in the Black Sea, where Russian and Ukrainian ports are major hubs for wheat and corn. Traffic has ground to a halt, effectively shutting down the world's second-largest grain exporting region. Unlike oil production, which can be ramped up quickly elsewhere, boosting grain supplies takes time and the sheer volume that could be diverted as a result of war and sanctions Ukraine accounts for 16% of global corn exports and together with Russia 30% of wheat exports means poorer countries that depend on imports could face major supply shocks. The question is not whether there will be serious economic effects and critical food shortages in already fragile countries, the question is what Russia will do with that and how the West will react, said Rohini Ralby, a director at I.R. Consilium, a U.S.-based maritime consulting firm. Among the countries most at risk are Egypt, India and Turkey, all of which rely heavily on Russia for everything from staples used to make flatbread to natural gas and tourism. Around 78% of Turkey's wheat imports come from Russia and another 9% from Ukraine. Much of those supplies are used in Turkey's food industry, a major exporter itself. India imports about 80% of its oil, much of it from Russia, and metals from Russia to supply the world's fifth-largest automobile industry. Also read | Russia-Ukraine conflict: At least 3 plots to 'assassinate Ukrainian President Zelensky foiled' in last week In the U.S., the biggest impact will be felt at the gas pump, where higher prices are expected to add to inflation already running at the fastest rate in four decades. Russia was the third-largest source of oil products sold in the U.S. Last year behind only Mexico and Canada and responsible for 8% of all imports. Russia is also the United States' second-largest supplier of platinum, a metal used to build exhausts for automobiles. But overall, Russia was only the 20th-largest supplier of goods for the United States in 2019, according to the U.S. Trade data. While the Biden administration has held back from a blanket Russian trade embargo or targeting Russia's energy sector, to limit the pain on the West, that's done little to calm markets. Wheat prices have jumped more than 55% since the week before the invasion. Oil prices, which had been steadily rising since the start of the year due to demand from a recovering global economy, soared past $110 a barrel for the first time since 2013. And the rates charged to charter giant oil tankers worldwide have jumped as much as 400% as oil traders scramble to secure capacity that become suddenly scarce. It's not yet clear how economic warfare on Russia will shake out and what other unintended consequences may be in store. While overcompliance with sanctions is a frequent problem, never in the past have restrictions been imposed so swiftly and coordinated so closely among U.S. Allies to target a global power. The situation alarms Tinglong Dai, a business professor who studies supply chains at Johns Hopkins University. Since the end of the Cold War, the bedrock of global trade has been a separation of geopolitics and business and an assumption that rational decision-making will always prevail, Dai said. Watch | Gravitas: Assessing the Ukraine War in numbers Both of those have been destroyed by Russia, says Dai, adding that a new sort of Iron Curtain" could soon emerge, with Russia and its allies on one side and the West on the other. It's no longer possible to avoid picking sides, and the consequences of this reconfiguration of global supply chains in terms of more poverty, loss of innovation and job opportunities is something we will all have to pay for, he said.

Russia's invasion of Ukraine leaves global trade in tatters

Hollywood is taking a stand amid the ongoing Russian invasion of Ukraine. Like Disney, Warner Bros too has announced that it has paused its plans of releasing its upcoming film 'The Batman' in Russia. The film stars Robert Pattinson as the superhero. The DC adaption is set to release worldwide on March 4 but won't release in Russia now.&nbsp; 
 
"In light of the humanitarian crisis in Ukraine, WarnerMedia is pausing the release of its feature film 'The Batman' in Russia," a spokesperson for the company said in a statement to the media. "We will continue to monitor the situation as it evolves. We hope for a swift and peaceful resolution to this tragedy." 
 
On Monday evening, hours after Warner Bros announced its decision, Sony Pictures too decided to pause its plans to release 'Morbius' in Russia. The film is based on a popular Marvel anti-hero. Sony Pictures has also pulled back all its other upcoming theatrical releases in Russia.&nbsp; 
 
"Our thoughts and prayers are with all those who have been impacted and hope this crisis will be resolved quickly," a Sony Pictures Entertainment spokesperson said in a statement.&nbsp;

<a href="https://www.wionews.com/entertainment/disney-pausing-film-releases-in-russia-over-ukraine-invasion-457652" hreflang="en">Disney pausing film releases in Russia over Ukraine invasion</a> 
 
Warner Bros and Sony's decisions to halt the rollout of upcoming films in Russia followed an announcement by Disney to pause its own theatrical releases in that country, beginning with Pixar's 'Turning Red'. The animated film was set to premiere on March 10 in Russia. 
 
According to a report in 'Variety', 'The Batman' has been made on a budget of $200 million and is expected to gain much more as it releases worldwide.&nbsp; 
 
"Russia generally isn't a make-or-break territory for the success of Hollywood releases, but there is still a sizable market for a film like 'The Batman'," the Variety pointed out in its report.&nbsp;

<a href="https://www.wionews.com/entertainment/russian-conductor-valery-gergiev-shunned-by-la-scala-other-venues-457670" hreflang="en">Russian conductor Valery Gergiev shunned by La Scala, other venues</a>

Hollywood is taking a stand amid the ongoing Russian invasion of Ukraine. Like Disney, Warner Bros too has announced that it has paused its plans of releasing its upcoming film 'The Batman' in Russia.

Hollywood is taking a stand amid the ongoing Russian invasion of Ukraine. Like Disney, Warner Bros too has announced that it has paused its plans of releasing its upcoming film 'The Batman' in Russia. The film stars Robert Pattinson as the superhero. The DC adaption is set to release worldwide on March 4 but won't release in Russia now. "In light of the humanitarian crisis in Ukraine, WarnerMedia is pausing the release of its feature film 'The Batman' in Russia," a spokesperson for the company said in a statement to the media. "We will continue to monitor the situation as it evolves. We hope for a swift and peaceful resolution to this tragedy." On Monday evening, hours after Warner Bros announced its decision, Sony Pictures too decided to pause its plans to release 'Morbius' in Russia. The film is based on a popular Marvel anti-hero. Sony Pictures has also pulled back all its other upcoming theatrical releases in Russia. "Our thoughts and prayers are with all those who have been impacted and hope this crisis will be resolved quickly," a Sony Pictures Entertainment spokesperson said in a statement. Disney pausing film releases in Russia over Ukraine invasion Warner Bros and Sony's decisions to halt the rollout of upcoming films in Russia followed an announcement by Disney to pause its own theatrical releases in that country, beginning with Pixar's 'Turning Red'. The animated film was set to premiere on March 10 in Russia. According to a report in 'Variety', 'The Batman' has been made on a budget of $200 million and is expected to gain much more as it releases worldwide. "Russia generally isn't a make-or-break territory for the success of Hollywood releases, but there is still a sizable market for a film like 'The Batman'," the Variety pointed out in its report. Russian conductor Valery Gergiev shunned by La Scala, other venues

'The Batman' to miss its date with Russia as Hollywood decides to boycott the invader