Key Russian banks have been cut out of the SWIFT payments messaging system, making financial transactions much more difficult
President Volodymyr Zelenskyy said he is no longer pressing for NATO membership for Ukraine, a delicate issue that was one of Russia’s stated reasons for invading its pro-Western neighbor.
In another apparent nod aimed at placating Moscow, Zelensky said he is open to “compromise” on the status of two breakaway pro-Russian territories that President Vladimir Putin recognized as independent just before unleashing the invasion on February 24.
“I have cooled down regarding this question a long time ago after we understood that … NATO is not prepared to accept Ukraine,” Zelensky said in an interview aired Monday night on ABC News.
“The alliance is afraid of controversial things, and confrontation with Russia,” the president added.
This, as Russia became the most sanctioned countries in the world. Key Russian banks have been cut out of the SWIFT payments messaging system, making financial transactions much more difficult. Europe’s worst refugee crisis since World War II has grown even more severe, with UN officials reporting that 2 million people have now fled Ukraine.
Manwhile, Moscow’s forces have besieged Ukrainian cities and cut off food, water, heat and medicine in a growing humanitarian crisis. But for days, attempts to create corridors to safely evacuate civilians have stumbled amid continuing fighting and objections to the proposed routes.
‘2,000 to 4,000 Russian soldiers killed’
According to AFP, the US Defense Department told lawmakers Tuesday it estimates between 2,000 and 4,000 Russian soldiers have been killed in Moscow’s nearly two-week-old invasion of Ukraine.
Asked at a House Intelligence Committee hearing how many Russian troops have died to date in the military operation, Lieutenant General Scott Berrier, director of the Pentagon’s Defense Intelligence Agency, said, “somewhere between two (thousand) and 4,000.”
Berrier did add however that the estimate is considered “low confidence” because it was put together using a combination of intelligence sources and open-source data, AFP said.
US bans Russian oil imports
President Joe Biden announced a ban on US imports of Russian oil on Tuesday, in the administration’s most far-reaching action yet to punish Moscow for invading Ukraine.
“We’re banning all imports of Russian oil and gas and energy. That means Russian oil will no longer be acceptable at US ports and the American people will deal another powerful blow to (President Vladimir) Putin,” Biden said in an address from the White House, adding that the decision was taken “in close consultation” with allies.
The ban came with Democrats threatening legislation to force Biden’s hand, despite the likely impact on already soaring gas prices.
US gasoline hits record $4.17
According to AP, the average price of gasoline in the U.S. hit a record $4.17 per gallon Tuesday as the country prepares to ban Russian oil imports after its invasion of Ukraine. The national average rose by 10 cents per gallon in one day, and it’s up 55 cents since last week, according to AAA data. The previous high was set 13 years ago when the national average price hit $4.10 per gallon.
The amount of gasoline in storage in the U.S. fell last week as demand starts to tick higher with summer approaching. The increase in gas demand and a reduction in total supply is contributing to rising prices at the pump, but skyrocketing oil prices are playing an increasingly large role as the conflict in Ukraine escalates, AP said.
As per news agency AP, the price of benchmark U.S. crude jumped 8% Tuesday to more than $129 per barrel. Americans can expect the current trend at the pump to continue as long as crude prices climb, the AAA said. Rising gas prices come as President Joe Biden has decided to ban Russian oil imports, toughening the toll on Russia’s economy in retaliation for its invasion of Ukraine, according to a person familiar with the matter.
UK to phase out Russian oil imports
According to a report by news agency AFP, Britain said Tuesday it would phase out Russian oil imports by the end of this year, in line with an expected announcement by the United States following the invasion of Ukraine.
“This transition will give the market, businesses and supply chains more than enough time to replace Russian imports — which make up 8.0 per cent of UK demand,” Business Secretary Kwasi Kwarteng tweeted.
All Indian students moved out of Ukraine’s Sumy
All Indian students stranded in the war-torn Ukrainian city of Sumy have been moved out and flights under Operation Ganga are being prepared to bring them back home, the Ministry of External Affairs (MEA) said on Tuesday, PTI said in a report.
MEA spokesperson Arindam Bagchi said the Indian students moved out of Sumy were being taken to Poltava, from where they will board trains to western Ukraine. Poltava is at a distance of about 175 km from Sumy.
Modi speaks to Dutch counterpart
According to PTI, Prime Minister Narendra Modi spoke to his Netherlands counterpart Mark Rutte on Tuesday as the two leaders discussed the ongoing situation in war-hit Ukraine and shared their concerns over the continuing humanitarian situation there.
The PMO in a statement said Modi, in the telephonic conversation, reiterated India’s consistent appeal for cessation of hostilities and a return to the path of dialogue and diplomacy. He welcomed the ongoing talks between Russia and Ukraine, and hoped for an early resolution to the crisis.
Pressure mounts on US companies in Russia
As a growing list of US multinational businesses, from Apple to Levi’s, suspend activities in Russia, some companies have chosen to stay in the country despite the risks to their reputation, AFP said in a report.
But following last month’s invasion of Ukraine, firms such as Pepsi and McDonald’s face mounting pressure: Calls for repercussions for the recalcitrant are appearing on social media under hashtags such as #BoycottMcDonalds and #BoycottPepsi.
As per AFP, the two companies have received letters from New York state’s pension fund chief Thomas DiNapoli, who said they “need to consider whether doing business in Russia is worth the risk during this extraordinarily volatile time.”
DiNapoli also has sent letters to snack manufacturer Mondelez; cosmetics groups Estee Lauder and Coty; or brokerage firm Bunge.
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