Ukraine and Russia: What you need to know right now

Reuters
Moscow Updated: Mar 01, 2022, 08:54 AM(IST)

In this combination of images, a Russian Armoured personnel carrier (APC) can be seen burning along with a damaged building in Kharkiv and a woman holding her sleeping child while sitting on the ground at Lviv central train station in Western Ukraine. Photograph:( AFP )

Story highlights

Russian President Putin told France's President Emmanuel Macron a Ukraine settlement was only possible if Kyiv was neutral, "denazified" and "demilitarised" and Russian control over annexed Crimea was formally recognised, the Kremlin said.

Here's what you need to know about the Ukraine crisis right now:

  1. Moscow faced increasing isolation on Tuesday as President Vladimir Putin showed no sign of stopping an invasion of Ukraine, where fierce fighting and Russian bombardment have killed dozens and sparked a refugee crisis.
     
  2. The 193-member U.N. General Assembly began meeting on the crisis ahead of a vote this week to isolate Russia.
     
  3. Talks on a ceasefire ended without a breakthrough.
     
  4. Russian President Putin told France's President Emmanuel Macron a Ukraine settlement was only possible if Kyiv was neutral, "denazified" and "demilitarised" and Russian control over annexed Crimea was formally recognised, the Kremlin said.
     
  5. Ukraine`s Western allies increased weapons transfers in support, and Britain called for such transfers to be expanded. Finland agreed to ship 2,500 assault rifles and 1,500 anti-tank weapons. Canada will supply anti-tank weapons and upgraded ammunition, Prime Minister Justin Trudeau said.
     
  6. Russia`s foreign ministry said those supplying lethal weapons to Ukraine will bear responsibility should they be used during Russia`s military campaign.
     
  7. The United Nations said more than 500,000 people had fled Ukraine to neighbouring countries since the start of Russia`s invasion.
     
  8. The United States expelled 12 Russian diplomats at the United Nations over national security concerns, U.S. and Russian diplomats said.


Watch | Gravitas: 5 videos that tell the story Russia's Ukraine invasion


MARKETS, SANCTIONS AND OTHER REACTIONS

* The United States imposed sanctions on Russia`s central bank and other sources of wealth, dealing a crushing blow to the country`s economy and further punishing Moscow.

* Europe's financial market began severing Russia`s ties to its critical plumbing for trading, clearing and settling securities as sanctions on Moscow started to bite.

* Markets paused for breath following days of volatility with Asian shares edging up and gold slipping slightly a day after the Russian rouble fell to a record low.

* Russia`s central bank more than doubled its key policy rate.

* Airlines braced for potentially lengthy blockages of key east-west flight corridors after the European Union and Moscow issued tit-for-tat airspace bans.

* Energy giant BP, global bank HSBC and aircraft leasing firm AerCap joined a growing list of companies looking to exit Russia, as Western sanctions tightened the screws on Moscow.

QUOTES

"I took a train from Kyiv to Lviv to a point where the taxi put us. I walked the last 50 kilometres," a Ukrainian woman said on arrival at a border crossing with Poland in snowy, freezing weather.
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"There are bombings, sirens, we have to go (downstairs). We also receive treatment here, medications we have, but we need more food ... basic stuff," said a tearful Maryna, a mother at a Kyiv children`s hospital where her nine-year-old son was suffering from blood cancer.
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COMING UP

Ukraine among the issues U.S. President Joe Biden will address in his State of the Union speech to Congress.

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