Panic in Russia has broken out as the rouble plunged to record lows with people concerned about their savings.
Russians waited in long queues outside ATMs on Sunday, worried that the new Western sanctions over Moscow’s invasion of Ukraine will trigger cash shortages and disrupt payments.
“A bank run has already started in Russia over the weekend … and inflation will immediately spike massively, and the Russian banking system is likely to be in trouble,” said Jeffrey Halley, Asia-based senior market analyst at OANDA.
Russians posted screenshots of their banking apps on social media , offering to buy the dollar for 120-130 rubles.
It comes as Russia’s central bank announced today it was raising its key interest rate to 20 per cent from 9.5 percent as the West pummelled the country with sanctions over Moscow’s invasion of Ukraine.
The Russian ruble has plunged in value to historic lows after world powers imposed fresh, harsher sanctions on Moscow over its invasion of Ukraine.
Meanwhile, the Ukranian delegation have arrived at the Belarusian border for talks with Russia.
Follow the latest updates below.
09:46 AM
‘Save your lives and leave’, Volodymyr Zelensky begs Russian soldiers
Ukrainian president Volodymyr Zelensky has urged Russian soldiers to “save your live and leave” Ukraine.
His appeal comes as a delegation of his government is due to meet with their Russian counter parts for an opening round of peace talks on the Belarusian border.
09:42 AM
Bulgarian defence minister to be sacked over Ukraine rhetoric
Bulgarian Prime Minister Kiril Petkov has said he would sack Defence Minister Stefan Yanev after Mr Yanev’s reluctance to describe the Russian invasion of Ukraine as a war prompted calls for his removal.
Mr Petkov said the centrist coalition government will have a meeting later on Monday to vote on Mr Yanev’s dismissal, when he would also propose a new defence minister.
“My defence minister cannot use the word operation instead of the word war. You cannot call it an operation when thousands of soldiers from the one and the other side are already killed,” Mr Petkov said in a televised statement.
“The Bulgarian interest is not in bending our heads down…When we see something we do not agree with, something so obvious, we cannot keep quiet,” Mr Petkov said.
In a Facebook post late on Sunday Yanev wrote that he was the subject of a targeted attack aimed at replacing him with someone who would be more open to taking decisions that serve foreign interests, which could put Bulgaria’s security at risk.
09:33 AM
China calls for de-escalation
Beijing has called for de-escalation and “restraint” over the Ukraine crisis as Russia and Ukraine prepared to meet for their first talks since Moscow’s invasion of its western neighbour.
Representatives from Moscow and Kyiv are set to meet on the border with Belarus this morning, after Western allies hit Russia with a slew of sanctions and pledged arms for Ukraine.
China has trod a cautious diplomatic tightrope on the crisis as it tries to balance its core foreign policy line – that a country’s sovereignty is sacrosanct and others should not interfere – with its support for close ally Moscow.
Instead it has called for Russia’s “reasonable” security demands to be heard, repeatedly refusing to condemn Putin’s actions or use the term “invasion”.
Foreign ministry spokesman Wang Wenbin on Monday urged both sides to “remain calm and exercise restraint to prevent further escalation of the situation.”
“China pays close attention to changes in the Ukraine situation and supports all efforts to de-escalate the situation and resolve it politically,” Mr Wang said at a regular press briefing.
09:20 AM
Russia haven’t got what they wanted, says Ben Wallace
What’s the situation on the ground in Ukraine? Russia has failed to take two big cities on the north-east, Ben Wallace noted this morning, while they have also struggled to take some key airfields despite having some success in the south.
“What you’re seeing is the Russian advance not going to plan,” the Defence Secretary told BBC Radio 4’s Today programme. “They haven’t yet got what they wanted, they haven’t got it to timetable. They are taking casualties every day and that’s mainly because of the flawed planning assumption that
“The Russian doctrine is if you don’t get what you want, get more and more violent, get more and more indiscriminate. That doesn’t always work and we’ve seen right now it isn’t working.”
09:18 AM
‘At least’ 102 civilians killed in Ukraine, says UN human rights chief
Michelle Bachelet, the UN human rights chief, said that at least 102 civilians, including seven children, had been killed in Ukraine since Russia launched its invasion five days ago, warning the true numbers were likely far higher.
“Most of these civilians were killed by explosive weapons with a wide impact area, including shelling from heavy artillery and multi-launch rocket systems, and airstrikes,” she told the UN Human Rights Council in Geneva, warning that “the real figures are, I fear, considerably higher.”
09:15 AM
UN Human Rights Council votes to hold urgent debate about Russian invasion of Ukraine
The UN Human Rights Council has voted to hold an urgent debate about Russia’s deadly invasion of Ukraine at Kyiv’s request, amid widespread international condemnation of Moscow’s attack.
Ukraine’s request to hold an urgent debate at the council in Geneva was supported by 29 of the council’s 47 members, with five voting against, including Russia and China, and 13 abstentions.
Before the vote, Ukraine’s ambassador in Geneva, Yevheniia Filipenko, described Russia’s actions as an attack on the wider international community.
“It was an attack not only on Ukraine, it was an attack on every UN member state, on the United Nations and on the principles that this organisation was created to defend,” she said.
09:11 AM
Zelensky: We will release prisoners with military experience if they will fight against Russia
Volodymr Zelensky has announced that Ukraine will release prisoners with military experience if they are willing to join the fight against Russia.
09:06 AM
Zelensky: 4500 Russian soldiers killed so far
Volodymr Zelensky says that 4,500 Russian soldiers have been killed so far.
He urged Russian soldiers to lay down their arms, and called on them to “save your lives and leave”.
“Abandon your equipment. Get out of here. Don’t believe your commanders. Don’t believe your propagandists. Just save your lives,” Zelensky said in a new address to Russia’s forces.
09:04 AM
Volodymr Zelensky: 16 children killed and 45 wounded
Volodymr Zelensky says that 16 children have been killed and 45 have been wounded over the past four days.
09:02 AM
Zelensky demands ‘immediate’ EU membership for Ukraine
Volodymyr Zelensky, the Ukrainian President, said he urged the European Union to grant his country immediate membership, as Russia’s assault against the pro-Western country went into its fifth day.
“We appeal to the European Union for the immediate accession of Ukraine via a new special procedure,” the 44-year-old leader said in a new video address.
“Our goal is to be together with all Europeans and, most importantly, to be on an equal footing. I’m sure it’s fair. I’m sure it’s possible.”
09:00 AM
‘No doubt’ that Britain will do more to help Ukranian refugees, says Defence Secretary
Ben Wallace said he has “no doubt” that Britain will do more to help Ukrainian refugees.
The Defence Secretary told BBC Radio 4’s Today programme the UK has a “very generous” track record in helping those in need of aid.
“I think what I would say is, you know, our track record so far, both with Afghans and (the) Arap scheme, and indeed with the Hong Kong nationals who were suffering persecution, has been actually very generous,” he said.
“So there’s no reason to doubt we won’t continue on that path.”
He added that it is not yet clear whether the European Union’s approach will be to support refugees on the border, with the hope they will be able to return to Ukraine soon, but discussions are continuing.
08:56 AM
Ireland will send nine million euros worth of non-lethal equipment to Ukraine
Ireland’s Foreign Affairs Minister has said the country will send around nine million euros’ worth of non-lethal equipment to Ukraine as part of an EU fund.
“Our money will be used for non-lethal weapons – things like helmets, protection vests, medical kits, fuel,” Simon Coveney told RTE radio.
“I think the European Union is right to intervene and support the Ukrainian military who are under enormous pressure at the moment.
“I think if the European Union can’t take a stand, well, then I think we have to question the moral substance of the European Union.”
Mr Coveney also indicated that Ireland might move to expel some Russian diplomats, but ruled out expelling the ambassador.
“The expulsion of diplomats or Russian staff in embassies is quite a significant thing to do. It sends a very strong signal and Russia will respond in kind.
“I think it’s likely that something will happen in that space, but we do need to be targeted. We need to bear in mind the interests of Irish citizens, both in Russia and across Ukraine.”
08:54 AM
Bank of China’s Singapore arm ‘stops financing’ Russian oil traders
Bank of China’s Singapore operation is said to have stopped financing deals involving Russian oil and Russian companies, in a sign Beijing may not step in to support its strategic partner.
It follows reports from Reuters that major buyers of Russian oil were struggling to open letters of credit from Western banks to cover purchases or find ships willing to transport Russian oil.
Meanwhile, Bloomberg reported that European banks Societe Generale and Credit Suisse have halted the financing of commodities.
08:50 AM
Ukranian delegation arrives at Belarusian border for talks
A Ukranian delegation has arrived at the Belarusian border for talks with Russian representatives, the Ukranian president’s office announced.
Talks are due to start imminently at 9am GMT.
08:40 AM
AirBnB working with hosts to house upto 100,000 Ukranian refugees
The CEO of AirBnB has announced plans to work with its host to house upto 100,000 refugees.
08:35 AM
Ben Wallace: Ukrainians want to stay in Ukraine
Ukrainians want to stay in Ukraine and have the means to protect their country, Ben Wallace insisted this morning when asked what support Britain will offer refugees.
Speaking to the Today programme, the Defence Secretary said: “Britain is leading the world in providing and coordinating lethal aid and non lethal aid. Ukrainians want to be in Ukraine, they want to be in Ukraine, that is their first wish.”
Mr Wallace said the people of Ukraine want the ability to defend themselves above anything else.
“I know you want me to come on and talk about refugees, I’m the Defence Secretary and I was going to come on and also give you an update on where we are so people understand in the media the difference between what’s being reported and what our [assessment is].”
08:24 AM
Russia-Ukraine border talks due to start at 9am GMT
Russia wants to reach agreement with Ukraine to put an end to their conflict, a Kremlin negotiator said Monday, as Moscow’s assault on the pro-Western country entered a fifth day.
“We definitely have an interest in reaching some agreements as soon as possible,” Russian President Vladimir Putin’s aide, Vladimir Medinsky who travelled to Belarus for the talks, said in televised remarks.
“We are waiting for the arrival of the Ukrainian delegation,” he said, adding he expected the talks to start at noon local time, which is 9AM GMT.
08:19 AM
UK ‘likely’ to follow the EU with stance on refugees, says chair of Foreign Affairs Committee
Tom Tugendhat, the Chairman of the Foreign Affairs Committee, said ministers had indicated the UK is “likely” to follow the EU in taking in Ukrainian refugees for up to three years.
The Conservative MP said he had talked with members of Government who were “hopeful” the policy on taking in Ukrainians fleeing the Russian invasion would be reviewed within the coming days.
Asked whether the UK Government had gone far enough in offering sanctuary to refugees, Mr Tugendhat told BBC Radio 4’s Today programme: “I’ve been speaking to ministers this morning and I can tell you there are many who are hopeful that this will be something that’s reviewed in the coming days.”
Asked about the EU’s announcement that member countries would grant asylum to Ukrainian refugees for up to three years, Mr Tugendhat said: “I suspect that’s likely to be where we end up to be hone
08:13 AM
BP slumps 7pc after Rosneft stake exit
BP shares have slumped 7pc at the open after the oil giant was forced to ditch its stake in Kremlin-controlled energy firm Rosneft.
The FTSE 100 company said it will sell its 20pc stake in Rosneft, warning it could take a hit of up to $25bn (£18.7bn) from the move.
Read more: BP abandons stake in Russian oil giant Rosneft
08:06 AM
Putin’s nuclear warning is part of ‘battle of rhetoric’, says Defence Secretary
Vladimir Putin’s nuclear warning is part of a “battle of rhetoric”, the Defence Secretary said.
Ben Wallace told BBC Breakfast that he understood the concerns about the warning made by the Russian leader, and revealed his own 12-year-old son called him worried about the step.
But he said: “We don’t see or recognise in the sort of phrase or the status he described as anything that is a change to what they have currently as their nuclear posture.
“This is predominantly about Putin putting it on the table just to remind people, remind the world, that he has a deterrent.”
He added: “We will not do anything to escalate in that area, we will not do anything to feed any miscalculation, we take it very, very seriously.
“But at the moment this is a battle of rhetoric that President Putin is deploying, and we just have to make sure we manage it properly.”
08:04 AM
Vatican ready to ‘facilitate dialogue’ between Russia and Ukraine
The Vatican said today it was ready to “facilitate dialogue” between Russia and Ukraine to end the war, and called for an immediate stop to the “military attack”.
Secretary of State Cardinal Pietro Parolin, who ranks second only to the pope in the Vatican hierarchy, told Italian newspapers that “despite the war unleashed by Russia against Ukraine” he was “convinced there is always room for negotiations”.
Ukraine’s ambassador to the Vatican, Andriy Yurash, told Reuters in an interview on Feb. 14 that Kyiv was open to a Vatican mediation of its conflict with Russia, calling the Vatican a “very influential, very spiritual place for a meeting”.
Parolin, the Vatican’s top diplomat, told Italian newspapers that dialogue was the only “reasonable and constructive” way to work out differences.
07:58 AM
I don’t think Putin wants to use nuclear weapons, says Defence Secretary
Ben Wallace said today that he does not expectVladimir Putin to use nuclear weapons in his pursuit of Ukraine, days after the former Soviet republic invaded its neighbour.
“We should be worried that a state like Russia believes that the rules don’t apply to them, whether that is invading Ukraine or using nerve agent in Salisbury, but fundamentally a deterrent is what it is, a deterrent,” Wallace told Times Radio.
“As much as he might be ambitious for Ukraine, I don’t think he wants to go into that space.”
07:55 AM
Russian forces in Ukraine are ‘behind schedule’, says Ben Wallace
Russian forces in Ukraine are “strung out” and “behind schedule”, the Defence Secretary has said.
Ben Wallace told Times Radio that President Putin “convinced himself that all these people would somehow welcome them with Russian flags and thank them for being great liberators”.
But instead the Ukrainian resistance had made these plans “go awry”.
In the same interview he defended the funding given to British armed forces.
The Defence Secretary said there was confusion between a reduction in the number of soldiers, and cuts in defence overall.
“We’ve got the biggest defence spending increase since the Cold War”, he said.
07:44 AM
UK has got lethal aid into Ukraine since Russian invasion, says Defence Secretary
The UK has got lethal aid into Ukraine since the Russian invasion, the Defence Secretary said today.
Ben Wallace confirmed that the UK has got lethal aid into Ukraine since the Russian invasion.
“Yes we’ve got lethal and non lethal aid into Ukraine. The other thing I’ve done, Britain was the first European country to step up to join America with lethal aid,” he told Sky News.
“We’ve now even got the Belgians and other countries who historically would have been hesitant delivering lethal aid. I welcome strongly the EU’s position, it took quite a lot of us quite a lot of effort.”
07:33 AM
‘Better ways’ to help Ukraine than travelling to join the fighting, says Defence Secretary
Ben Wallace said there were “better ways” to help Ukraine than travelling to join the fighting, for those in the UK without military experience.
The Defence Secretary was asked about comments made by Foreign Secretary Liz Truss on Sunday, where she supported anyone who wished to travel to the country to help fight the Russian invaders.
Mr Wallace told Sky News Ms Truss was right that it was a “just cause”, but he said: “If you’re keen to help and you’re a United Kingdom citizen, come and join our armed forces.”
He said: “Look, there are people who will go… I think what I would say is unless you are properly trained, unless you are a – you know – experienced member of an armed forces, I think there are better ways for you to contribute to the security of Ukraine.”
07:30 AM
UK government announce further economic sanctions
The UK government have announced further economic sanctions to target Russia’s Central Bank.
“The UK Government will immediately take all necessary steps to bring into effect restrictions to prohibit any UK natural or legal persons from undertaking financial transactions involving the CBR, the Russian National Wealth Fund, and the Ministry of Finance of the Russian Federation,” the Treasury said.
Rishi Sunak, the Chancellor, said: “These measures demonstrate our determination to apply severe economic sanctions in response to Russia’s invasion of Ukraine.”
“We are announcing this action in rapid co-ordination with our US and European allies to move in lockstep once more with our international partners, to demonstrate our steadfast resolve in imposing the highest costs on Russia and to cut her off from the international financial system so long as this conflict persists.”
07:22 AM
Breaking: Russia’s Central Bank has raised its key rate to 20%
Russia’s Central Bank has raised its key rate to an unprecedented 20% in desperate bid to shore up the ruble amid crippling sanctions.
07:19 AM
Putin’s nuclear warning is an ‘attempt to distract away from his troubles in Ukraine’, says Defence Secretary
Russian President Vladimir Putin’s nuclear warning is a “big attempt to distract away from his troubles in Ukraine”, the Defence Secretary has said.
Ben Wallace did not rule out Mr Putin launching a nuclear attack, and was asked on Sky News whether the Russian leader was “crazy enough” to start a nuclear conflict.
Defence Secretary Ben Wallace says Vladimir Putin ordering Russia’s nuclear deterrent forces to be put on high alert is “a big attempt to distract from his troubles in Ukraine”.
Ukraine-Russia latest: https://t.co/5xGmj0hqsU
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— Sky News (@SkyNews) February 28, 2022
Mr Wallace told Sky News: “I think he has certainly done a lot of irrational things recently.”
He added: “I think I’m not going to speculate on what he would or wouldn’t do, but that’s why we all keep our deterrents at a state of readiness in the West.”
07:12 AM
Ministry of Defence update
07:04 AM
Boris Johnson: Russian invasion is a ‘disastrous misbegotten venture’
Boris Johnson has called Russia’s invasion of Ukraine a “disastrous misbegotten venture by President Putin” as the Kremlin’s forces continue to face fierce resistance on the ground.
Ahead of the United Nations holding a rare emergency meeting of its General Assembly over the crisis, the Prime Minister also told the Ukrainian President Volodymyr Zelensky that Britain would do all it could to get more arms to his military.
Mr Zelensky told Mr Johnson the next 24 hours would a “crucial period” for his country.
A Ukrainian delegation is due to meet the Russians today “without precondition” on the border with Belarus, although Mr Zelensky has indicated he sees little prospect of any meaningful dialogue.
Last night Mr Johnson said that Putin’s nuclear threat was a “distraction from what’s really going on in Ukraine” as resistance forces put up more of a fight than the Kremlin was expecting.
07:01 AM
Fears that Covid isolation has unbalanced Putin
Fears are growing that the Covid pandemic has influenced Vladimir Putin’s behaviour.
Normally regarded as coldly rational, Putin has alarmed influential figures in Washington with his angry outbursts as the Ukraine crisis unfolded.
Florida senator and former Republican presidential candidate Marco Rubio was among those to question Putin’s mental health.
“I wish I could share more, but for now I can say it’s pretty obvious to many that something is off with Putin,” he tweeted.
Read the full story here.
06:57 AM
Latest updates from overnight
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A three-mile column of Russian troops and tanks has been moving slowly towards Kyiv
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Belarus is expected to send reinforcements into Ukraine as soon as today after a referendum paved the way for the country to host nuclear weapons and Russian forces permanently
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The European Union decided for the first time in its history to supply weapons to a country at war. Fighter jets were expected to arrive overnight
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Vladimir Putin put Russia’s nuclear arsenal on standby on Sunday amid growing fears he could deploy weapons of mass destruction to avoid the humiliation of defeat in Ukraine
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Putin blamed the West’s “unfriendly steps” when ordering Russia’s military command to put its nuclear deterrent “into a special mode of combat service”
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A Ukrainian tractor was filmed towing away a Russian tank, underlying the chaos that has underpinned the Kremlin’s invasion of its neighbour
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The world’s largest aircraft – the Antonov An-225 Mriya – is feared to have been destroyed in an attack on Antonov Airport in Ukraine
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A triumphant essay hailing how Vladimir Putin “solved the Ukrainian question” was published by the Russian media and then hastily deleted
06:36 AM
Rouble plunges to a record low
The rouble plunged to a record low of less than one US cent on Monday after Western nations moved to tighten sanctions against Russia, blocking some of its banks from the Swift global payments system.
Shares were mixed in Asia but US and European futures were sharply lower as Vladimir Putin escalated tensions by ordering that Russian nuclear forces be put on high alert.
Russian’s invasion of Ukraine has caused markets to swing wildly, given the potential impact on inflation, energy supplies and other economic repercussions.
Central bank restrictions target access to the more than $600 billion in reserves that the Kremlin has at its disposal, hindering Russia’s ability to support the rouble as it plunges in value.
The rouble was quoted at 105.27 to the dollar early on Monday, down from about 84 roubles to the dollar on Friday.
Sanctions announced earlier had taken its currency to its lowest level against the dollar in history and gave its stock market its worst week on record.
06:09 AM
Singapore breaks tradition to apply sanctions
Singapore will impose “appropriate sanctions and restrictions” on Russia, its foreign minister said on Monday, including banking and financial measures and export controls on items that could be used as weapons against the people of Ukraine.
The tiny city-state, an Asian financial centre and key international shipping hub, complies with United Nations Security Council resolutions but rarely issues sanctions of its own against countries.
“Singapore intends to act in concert with many other like-minded countries to impose appropriate sanctions and restrictions against Russia,” Foreign Minister Vivian Balakrishnan told parliament, describing Russia’s invasion as unacceptable and a gross violation of international norms.
He said the sanctions were due to the “unprecedented gravity” of the situation and Russia’s veto last week of a draft Security Council resolution.
05:33 AM
Facebook, Twitter block hackers and fake accounts
Meta Platforms said a hacking group used Facebook to target a handful of public figures in Ukraine, including prominent military officials, politicians and a journalist.
Meta said in the last 48 hours it had also separately removed a network of about 40 fake accounts, groups and pages across Facebook and Instagram that operated from Russia and Ukraine, targeting people in Ukraine, for violating its rules against coordinated inauthentic behaviour.
A Twitter spokesperson said it had also suspended more than a dozen accounts and blocked the sharing of several links for violating its rules against platform manipulation and spam. It said its ongoing investigation indicated the accounts originated in Russia and were attempting to disrupt the public conversation around the conflict in Ukraine.
05:17 AM
UN General Assembly to hold first emergency session in decades
The United Nations’ two major bodies – the 193-nation General Assembly and the more powerful 15-member Security Council – are holding separate meetings on Monday, reflecting widespread demands for a ceasefire and escalating concern for the millions of Ukrainians caught up in the war.
The Security Council gave a green light on Sunday for the first emergency session of the General Assembly in decades. It will give all UN members an opportunity to speak about the war and vote on a resolution later in the week that US Ambassador Linda Thomas-Greenfield said would “hold Russia to account for its indefensible actions and for its violations of the UN Charter”.
French Ambassador Nicolas De Riviere announced that the Security Council will hold a meeting on Monday afternoon on the humanitarian impact of Russia’s invasion, a session sought by French President Emmanuel Macron to ensure the delivery of aid to growing numbers of those in need in Ukraine.
04:32 AM
Russia makes Facebook largely unusable
Russia has apparently rendered Facebook largely unusable across leading Russian telecommunications providers amid rising friction between Moscow and the social media platform.
The London-based internet monitor NetBlocks reports that Facebook’s network of content-distribution servers in Russia was so badly restricted Sunday that “content no longer loads, or loads extremely slowly making the platforms unusable.”
Russian telecoms regulator Roskomnadzor on Friday announced plans to “partially restrict” access to Facebook. That same day, Facebook’s head of security policy had said the company was barring Russian state media from running ads or otherwise profiting on its platform anywhere in the world.
Facebook says it has also refused a request by the Kremlin not to run fact checks related to Russia’s invasion of Ukraine on the platform for users inside Russia.
04:05 AM
Biden to hold secure call with allies
US President Joe Biden will hold a secure call with allies and partners on Monday to discuss “developments” in Russia’s attack on Ukraine and “coordinate our united response,” the White House said.
The administration did not elaborate on who would participate in the call.
Russia has become an international pariah as its forces do battle on the streets of Ukraine’s cities, and is facing a barrage of sanctions including a ban from Western airspace and key financial networks.
Earlier Sunday, the G7 threatened fresh sanctions as top US diplomat Antony Blinken said the group of wealthy nations was “fully aligned” against Moscow’s invasion of Ukraine.
03:49 AM
Russian missile strikes north of Kyiv
A Russian missile struck a residential building in Chernihiv, a city 150km north from Kyiv, according to the State Communications Service.
The Kyiv Independent said two lower floors were set on fire, with one woman injured. The fire has since been put out.
The State Communication Service was also reporting blasts in Kyiv and Kharkiv early on Monday morning.
03:31 AM
Missiles hit radioactive waste site, reports nuclear watchdog
The United Nations’ nuclear watchdog says missiles have hit a radioactive waste disposal site in the Ukrainian capital of Kyiv, but there are no reports of damage to the buildings or indications of a release of radioactive material.
In a statement late Sunday, International Atomic Energy Agency Director General Rafael Grossi said Ukrainian authorities informed his office about the overnight strike. He says his agency expects to soon receive the results of on-site radioactive monitoring.
The report came a day after an electrical transformer at a similar disposal facility in the Ukrainian city of Kharkiv was damaged.
03:27 AM
Japan ‘working with West’ to block Russian finances
Japanese Chief Cabinet Secretary Hirokazu Matsuno said on Monday that Japan was asked to join in measures blocking Russia from SWIFT by Western nations and was working with them to make the measures effective.
He said Japan will continue to cooperate with other nations, including the Group of Seven, but declined to comment when asked about sanctions on the Russian central bank. (Reporting by Kantaro Komiya and Elaine Lies; Editing by Tom Hogue)
03:18 AM
Rouble plunges to all-time low on back of sanctions
The rouble plunged to an all-time low on Monday, and the dollar soared against nearly all peers after Western nations announced fresh sanctions to punish Russia for its invasion of Ukraine and Vladimir Putin put nuclear-armed forces on high alert.
The rouble dropped to as low as 119 per dollar in early trading, screaming through its previous low of 90 roubles per dollar.
The declines came despite Russia’s central bank announcing a slew of steps on Sunday to support domestic markets, after Western allies ratcheted up sanctions including blocking certain banks from the SWIFT international payments system.
02:56 AM
Minsk ‘now an extension of Kremlin’
A US administration official has confirmed that Belarus is preparing to send troops into Ukraine in support of Russia.
“It’s very clear Minsk is now an extension of the Kremlin,” the source told The Washington Post, saying the deployment could happen as early as Monday morning.
The results of a referendum held on Sunday in Belarus, Russia’s neighbour and ally, have paved the way for the nation to house Russian nuclear weapons.
02:45 AM
Bank of China’s Singapore arm stops Russian deals
Bank of China’s Singapore operation has stopped financing deals involving Russian oil and Russian companies, amid concerns of western sanctions following Russia’s invasion of Ukraine, sources report.
02:10 AM
Russia scrambles to manage financial fallout
Russia’s central bank announced a slew of measures on Sunday to support domestic markets, as it scrambled to manage the fallout of harsh Western sanctions over the weekend.
The central bank said it would resume buying gold on the domestic market, launch a repurchase auction with no limits and ease restrictions on banks’ open foreign currency positions.
It also increased the range of securities that can be used as collateral to get loans and ordered market players to reject foreign clients’ bids to sell Russian securities.
The steps came after Western allies ratcheted up sanctions on Saturday, including blocking certain banks from the SWIFT international payments system and targeting the Russian central bank.
01:53 AM
Belarus to join Russian fight ‘within hours’
Multiple sources in Belarus say Vladimir Putin has called on his ally Aleksandr Lukashenko to join Russia’s military operation.
The Kyiv Independent reports that the first transport aircraft carrying Belarusian paratroopers is likely to take off in the early hours of Monday morning.
The speculation comes after Belarus held a referendum on Sunday that enabled them to ditch the country’s non-nuclear status.
The new constitution could see nuclear weapons on Belarusian soil for the first time since the fall of the Soviet Union.
01:40 AM
Saudi Arabia ‘committed’ to Russian oil agreement
Saudi Arabia confirmed its commitment to the OPEC+ agreement with Russia, the Saudi Press Agency reported.
Crown Prince Mohammed bin Salman made the comments during a conversation with French President Emmanuel Macron that also covered the situation in Ukraine and its impact on the energy markets.
“His Royal Highness the Crown Prince affirmed the Kingdom’s keenness on the stability and balance of oil markets and the Kingdom’s commitment to the OPEC Plus agreement,” the agency added.
Members of the OPEC+ oil producers’ group will meet on Wednesday to discuss loosening the taps just days after the Russian invasion sent crude soaring past $100 a barrel.
01:33 AM
Satellite images show Russian convoy heading to Kyiv
The Russian column of troops and tanks was captured via satellite by Maxar Technologies and extended for more than 3.25 miles.
The space technology company said the convoy was north-east of the Ukrainian city of Ivankiv and contained fuel, logistics and armoured vehicles, including tanks, infantry fighting vehicles and self-propelled artillery.
Maxar has been tracking the buildup of Russian forces for weeks.
01:21 AM
G7 leaders threaten fresh sanctions
Leaders of the G7 threatened fresh sanctions against Russia as the top US diplomat Antony Blinken said the group of wealthy nations was “fully aligned” against Moscow’s invasion of Ukraine.
Canada, France, Germany, Italy, Japan, Britain and the United States warned in a joint statement that they would “take further steps” to add to the sanctions already announced if Russia did not cease its operation.
Russian military gains in Ukraine achieved through its ongoing campaign leading to “any change of status” such as the annexation of territory “will not be recognised”, G7 foreign ministers said in a joint statement.
01:18 AM
New York cancels Russian investments
New York Governor Kathy Hochul signed an executive order Sunday forbidding her state from doing business with Russia, including cancelling its investments there.
The governor also said New York will welcome Ukrainian refugees in response to Russia’s invasion, noting that her state is home to the largest Ukrainian population in the US.
“We have said we’ll open up our hearts, our homes, our resources to the people of the Ukraine, to say, ‘We stand with you,”‘ she said.
Federal estimates show that about 140,000 of more than one million people in the US who report Ukrainian ancestry live in New York.
01:08 AM
Google disables Maps tools to protect Ukrainians
Google confirmed on Sunday it has temporarily disabled in Ukraine some Google Maps tools which provide live information about traffic conditions.
The company said it had taken the action for the safety of local communities in the country, after consulting with sources, including regional authorities.
