(Bloomberg) —
Russian missiles struck a military center in western Ukraine near Poland as bombing of major cities intensified and Moscow warned that convoys of military aid from the West are “legitimate targets.”
The Russian military continues to target sites ringed around Ukraine’s capital, Kyiv, and fierce fighting has been reported. Prime Minister Denys Shmyhal said Ukraine has all basic food products for coming months and banned or restricted exports of essential foods.
Ukraine’s President Volodymyr Zelenskiy said talks with Moscow show signs of becoming more substantive, and one of his top advisers said that “continuous” discussions with Russia are under way by video. Russian President Vladimir Putin spoke with his French and German counterparts after they spoke earlier with Zelenskiy.
Key Developments
- Qatar’s Foreign Minister to Visit Moscow Over Iran, Ukraine
- Satellite Images of Russian Tanks Fail to Penetrate Fog of War
- Mariupol’s Steel Mills Are a War Zone as Staff Huddle in Bunkers
- Companies Leaving Russia Don’t Know If and When They’ll Return
- Major Ukrainian Food Exporter Flips to Feed a Nation at War
- A New World Energy Order Is Emerging From Putin’s War on Ukraine
All times CET:
Russian Missiles Strike Peacekeeping Center Near Poland (6:39 a.m.)
Eight missiles hit the International Peacekeeping and Security Centre in the Lviv region of western Ukraine, near the Polish border, the city’s mayor Andriy Sadovy said on Telegram. See the regional administration’s statement. It comes after Russia threatened to target foreign military aid coming into Ukraine.
Ukraine War Risks Manageable for Hong Kong, Paul Chan Says (6:06 a.m.)
The overall risks of the war between Ukraine and Russia on Hong Kong are manageable, but the city remains “highly vigilant” for any possible impact on financial markets, Financial Secretary Paul Chan wrote in his blog on Sunday.
Ukraine accounted for 0.05% of Hong Kong’s goods exports last year, while Russia made up 0.78%, Chan said. Sharp increases in global energy prices will have a “relatively mild” effect on Hong Kong inflation because the city’s economy is dominated by the services industry and is not highly dependent on energy, according to Chan.
Bermuda Suspends Airworthiness of Russian Aircraft on Island’s Registry (12:21 a.m.)
The Bermuda Civil Aviation Authority has provisionally suspended all Certificates of Airworthiness of aircraft operating under an agreement between Bermuda and the Russian Federation, Bernews reported.
International sanctions on the aviation sector have had a “significant impact on the ability to sustain safety oversight” on Russian-operated aircraft on the Bermuda Aircraft Registry, the report said, citing an authority spokesperson, who wasn’t named. The authority “is unable to confidently approve these aircraft as being airworthy,” the spokesperson was reported as saying.
The Bermuda government previously confirmed that there are about 900 aircraft on the registry, of which about 740 are utilized by Russian air operators. Premier David Burt previously said the island, in effect, will follow U.K. sanctions on Russia.
Ukraine Bars Essential Food Exports, Secures Energy Supplies (12:05 a.m.)
Ukraine has all basic food products for coming months and the government has banned or restricted the export of essential foods such as wheat, buckwheat, meat, eggs, oil and sugar, Ukrainian Prime Minister Denys Shmyhal said.
Ukraine has gas reserves of about 9.5 billion cubic meters, he said, with gas imports continuing to flow from Hungary, Slovakia and Poland.
The government recently submitted a draft law to reduce an excise tax on fuel and the VAT rate from 20% to 7% to stabilize prices and prevent shortages. The Cabinet is also considering a reduction in VAT to 0% if the logistical expenses of fuel suppliers continue to grow. The government is in talks with global companies on gasoline and diesel fuel supplies.
Currently, four nuclear power plants, all hydro power plants and thermal power plants are running in Ukraine. The Ukrainian government has also agreed on additional coal supplies by rail from Poland.
U.S. Adds $200 Million in Military Aid (11:30 p.m.)
President Joe Biden’s administration authorized another $200 million in military aid for Ukraine, including “further defensive assistance” to help the country “meet the armored, airborne, and other threats it is facing,” U.S. Secretary of State Antony Blinken said.
The latest package increases the Biden administration’s security assistance for Ukraine to more than $1.2 billion, Blinken said in a statement.
U.K. to Offer $456 Monthly to Refugee Hosts (11 p.m.)
U.K. households will be paid 350 pounds ($456) per month to host Ukrainians fleeing war under a government plan to allow people in Britain to sponsor the refugees, the Telegraph reported. Ukrainians admitted under the plan could remain in the U.K. for as long as three years, according to the newspaper, which cited a government source.
Prime Minister Boris Johnson’s government has faced criticism, including from French President Emmanuel Macron, that its refugee stance is too restrictive.
Zelenskiy Asks Israel to Help Call for Mayor’s Release (10:16 p.m.)
President Zelenskiy held a call with Israeli Prime Minister Naftali Bennett, discussing “Russian aggression and the prospects for peace talks,” Zelenskiy said in a tweet Saturday night.
“We must stop repressions against civilians: asked to assist in the release of captive mayor of Melitopol and local public figures,” Zelenskiy said. More than 2,000 people on Saturday took the streets of Melitopol, a southern city now occupied by Russian troops, to demand Mayor Ivan Fedorov’s release.
Rosatom Says Russia Doesn’t Plan to Take Full Control of Nuclear Plant (9:19 p.m.)
Alexey Likhachev, director general of Russia’s Rosatom, denied that the utility had taken operational control of Ukraine’s Zaporizhzhya nuclear plant that came under attack earlier in the war, the International Atomic Energy Agency said in a release. He also denied that Rosatom intended for the plant to be under Rosatom’s “management system”, though he confirmed that a number of the company’s experts were present at the plant in southeastern Ukraine.
Around 400 Russian soldiers were “present full time on site” and the plant remains under the control of the Russian military forces’ commander, Petro Kotin, the president of Ukraine’s nuclear power plant operator Energoatom, said in a letter to the IAEA. Plant management were required to coordinate with the Russian forces on all operational issues, including technical matters, Kotin said.
Azerbaijan Flags Capacity to Ramp Up Gas to Europe: Anadolu (9:12 p.m.)
Azerbaijan’s energy minister, Parviz Shahbazov, said his nation could ramp up the provision of natural gas to Europe, according to Turkey’s Anadolu news agency, citing an interview.
“The expansion of the Southern Gas Corridor project will definitely begin, and in this direction, we have started dialogue with European countries, Western Balkan countries, and other Eastern European countries,” Shahbazov told Anadolu on the sidelines of a conference in Turkey.
There is enough to boost natural gas via TANAP — the Trans Anatolian Pipeline — to 31 billion cubic meters from 16 billion cubic meters, and to double the current 10 billion cubic meters of supply via TAP — the Trans Adriatic Pipeline, Anadolu cited Shahbazov saying.
Russia Says Mariupol Is ‘Serious Humanitarian Situation’: Interfax (7:59 p.m.)
Russia’s defense ministry said the port city of Mariupol is the site of a “serious humanitarian situation” and accused “nationalists” of blocking an attempt to evacuate 50 busloads of civilians, Interfax reported, citing Colonel General Mikhail Mizintsev, the head of the Russian National Center for Defense Management.
The Ukrainian government has accused Russia of attacks in violation of temporary cease-fires to allow the evacuation of people from Mariupol in the country’s east.
The city has been heavily shelled for the past two weeks and remains encircled by the Russian army.
White House Briefs Social Media Influencers Covering Ukraine (6:55 p.m.)
In an effort to counter Russian propaganda, Press Secretary Jen Psaki and other White House officials did a briefing via Zoom with about 30 social media influencers who have been covering Ukraine on their social-media channels.
Many of influencers selected have a large presence on platforms like TikTok, Youtube and Twitter, a White House spokeswoman said.
The creators were given an overview on Thursday on the latest White House thinking on Ukraine, with material similar to that given in traditional briefing calls to reporters over the last week, the spokeswoman said. The Washington Post reported on the briefing earlier.
Ukraine Warns on ‘Sham’ Referendum in Seized Kherson (6:46 p.m.)
Ukraine’s foreign minister says Russia plans to stage a “sham ‘referendum’” in the Russian-occupied southern city of Kherson in an effort to show that people there want to break away from Ukraine.
Word of a possible vote spread earlier on Twitter.
“Kherson is & will always be Ukraine,” Foreign Minister Dmytro Kuleba said.
Ukraine Says ‘Continuous’ Video Talks With Russia Under Way (6:01 p.m.)
Ukrainian President Volodymyr Zelenskiy’s chief of staff, Mykailo Podolyak, said that “continuous” negotiations between Ukraine and Russia are being conducted via a video format.
“Special working subgroups have been created,” Podolyak said in a post on Twitter, without elaborating. “Ukraine’s positions are determined by the previous directives.”
Russian Stock Trading Halt Extended Through March 18 (5:30 p.m.)
The Bank of Russia extended a halt to stock trading on the Moscow Exchange through at least March 18.
The exchange has been closed since Feb. 25 in one of the longest-ever shutdowns for a market of Russia’s size. Trading was stopped after the benchmark MOEX Index crashed 33% the day Russia invaded Ukraine, the fifth-biggest decline for any stock market.
Lessons for Russia From Long Stock Market Shutdowns: QuickTake
Zelenskiy Says Russian Talks Becoming More Substantive (5:15 p.m.)
President Volodymyr Zelenskiy said Ukrainian diplomats are trying to figure out what they can discuss with Russia as negotiations with Moscow show signs of becoming more substantive.
Ukraine’s leader said about 1,300 troops have been killed so far in the war with Russia, but that Russia has suffered many more casualties. Russian troop losses can’t be independently confirmed.
“The Russian Federation issued ultimatums to us from the very beginning, which we did not accept,” Zelenskiy told journalists in Kyiv in a televised briefing. “Now, they’ve started to talk about something, not just throw ultimatums.”
Zelenskiy said there’s “not enough” involvement by Ukraine’s partners in talks with Russia, since Ukraine can’t trust the Kremlin after its invasion. Ukrainian and Russian diplomats have met three times near the border with Belarus, and the countries’ foreign ministers met in Turkey on Thursday.
Chinese Scholar Urges Beijing to Take Firm Line With Moscow (5:11 p.m.)
A Chinese scholar at an advisory agency under the State Council has issued unusually frank public remarks on the war, urging China to immediately draw a firm line with Moscow. Beijing so far has refused to condemn Russia, while calling for the two sides to negotiate a cease-fire.
“China has to offload the Russia burden as soon as possible to defend its own best interest,” Hu Wei, deputy director of the Public Policy Research Center at the State Council’s Counsellors’ Office, wrote in an article posted on the website of the U.S.-China Perception Monitor.
Calling Russia’s actions an “irreparable mistake,” Hu said in a worst-case scenario for President Vladimir Putin, Russia could collapse in on itself. That would leave China alone to face the full glare of the U.S., and it was best for Beijing to instead improve ties with America and avoid any collateral sanctions.
“Putin will likely have to end the war without China’s support,” he wrote. “This could be a great opportunity to gain international compliments.”
Putin Holds Another Call With Scholz, Macron (3:20 p.m.)
German Chancellor Olaf Scholz and French President Emmanuel Macron reiterated their demand for an immediate cease-fire and a diplomatic solution in a 75-minute call with Russian President Vladimir Putin, according to Scholz’s spokesman.
Putin informed them of the “real situation” in Ukraine, the Kremlin said in an emailed statement. The Russian leader accused the government in Kyiv of “flagrant violation” of international humanitarian law.
Ukraine is using civilians as human shields as it deploys heavy weapons from residential areas, schools and other civilian sites, Putin said, according to the statement. Scholz and Macron spoke earlier with Ukraine President Volodymyr Zelenskiy.
Russia Warns That Weapons Convoys ‘Legitimate Targets’ (2:29 p.m.)
Russia warned that Western convoys of weapons deliveries to Ukraine are “legitimate targets,” stepping up its threats amid a major increase in military supplies to Kyiv’s forces.
“We have warned the U.S. that pumping weapons into Ukraine by a whole range of countries is not just a dangerous path but are actions that turn these convoys into legitimate targets,” Deputy Foreign Minister Sergei Ryabkov said Saturday on state television, as cited by the RIA Novosti and Tass news services.
President Vladimir Putin said Friday that Russia plans to step up weapons deliveries to separatist areas in Ukraine and send thousands of fighters from the Middle East to join its forces in the country.
Germany Pursuing Swift End to Russian Oil, Coal Dependence (1:55 p.m.)
Germany is aiming to free itself from dependence on Russian coal imports by the fall and almost completely from Russian oil by the end of the year, according to Economy Minister Robert Habeck.
Ending the nation’s reliance on Russian gas is more complicated, as Germany doesn’t have the necessary infrastructure to handle imports of liquefied natural gas from other sources, Habeck told the Frankfurter Allgemeine Sonntagszeitung, adding that urgent work is being carried out to address that. Germany gets about half of its gas and coal from Russia and around a third of its oil.
Commerzbank Follows Deutsche Bank in Ending Russian Business (12:49 p.m.)
The German lender has stopped doing new business in Russia and is winding down existing transactions, a spokeswoman said. The bank said on Feb. 24 that its exposure to both Russia and Ukraine was manageable and had been reduced in recent years.
Deutsche Bank, Germany’s biggest lender, reversed course on Friday and joined competitors including Wall Street banks Goldman Sachs and JPMorgan Chase in cutting business ties to Russia.
Russian Official Warns Finland, Sweden Over NATO (12:33 p.m.)
A Russian foreign ministry official warned of unspecified “military and political consequences” should Sweden and Finland join the North Atlantic Treaty Organization.
Sergei Belyaev told Interfax that the non-participation of the two countries in NATO was “an important factor in ensuring security and stability in northern Europe.”
The Nordic nations held high-level security talks a week ago about the changing security situation in Europe. Sweden’s prime minister on Tuesday cooled speculation about any near-term bid to join the defense bloc.
Italy Seizes Another Russian Superyacht (11:12 a.m.)
The vessel seized by Italian financial police is owned by Russian billionaire Andrey Melnichenko, founder of fertilizer company EuroChem, and is worth an estimated 530 million euros ($580 million).
It may be the world’s biggest sailing yacht and was docked in the port of Trieste in northern Italy, according to a statement from Prime Minister Mario Draghi’s office.
Italian authorities previously detained superyachts owned by billionaires Gennady Timchenko and Alexey Mordashov as part of EU efforts to punish wealthy Russians with ties to President Vladimir Puti
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