LIVE: Ukraine no longer insisting on NATO membership, says report

Russia Ukraine live news: Zelensky accused the International Red Cross of forbidding the use of its emblem on our cars, but did not give details.

5:22 PM

FIFA postpone Ukraine v Scotland World Cup qualifier

Ukraine's World Cup play-off semi-final match against Scotland has been postponed, after the Scottish Football Association received notification from FIFA on Monday.

A postponement of the match, due to be played at Hampden Park in Glasgow on 24th March, had been requested by Ukraine in light of the Russian invasion.

5:08 PM

Zelenskyy urges more humanitarian corridors

Ukrainian President Volodymyr Zelenskyy has called for the expansion of humanitarian corridors for Ukrainian civilians fleeing war, and more support from the Red Cross.

In a video address Tuesday from an undisclosed location, he said a child died of dehydration in the blockaded southern seaport of Mariupol, in a sign of how desperate the city's population has become.

5:04 PM

Unhelpful Modi govt has no moral authority to raise fuel prices, says NCP amid Russia-Ukraine war

The Narendra Modi government did not give relief to the people of the country when global oil prices were at its lowest, and, hence, it does not have the moral authority to hike fuel rates in the wake of the Russia-Ukraine war, the NCP said on Tuesday.

NCP's Maharashtra unit chief spokesperson Mahesh Tapase alleged that with the Assembly polls in Uttar Pradesh and four other states over, the Centre seems to be contemplating an imminent rise in retail price of fuel.

4:24 PM

Ukraine war may have limited impact on domestic credit market: Report

The direct impact of the ongoing Russia-Ukraine war on the domestic credit markets appears to be limited as the banking system has adequate liquidity but not the market as a whole, as per a report.

According to India Ratings, overall, the duration and intensity of the war will be the key determinant for the macro and micro risks. Although the direct impact seems to be limited on the credit based on limited escalation from the ongoing situation, the rippling effect will be disproportionately higher in case the war continues for long.

4:05 PM

Blinken wraps up Baltic assurance tour as Ukraine war rages

US Secretary of State Antony Blinken was on the last leg Tuesday of a short tour of the three Baltic states aimed at reassuring the former Soviet republics that NATO will guarantee their security as Russia's war with Ukraine rolls on unabated.

Blinken was meeting with senior Estonian officials in Tallinn, a day after hearing appeals from both Lithuania and Latvia for more support and greater US and NATO troop presence to deter a feared Russian intervention.

We will defend every square inch of NATO territory if it comes under attack, if it's on the receiving end of aggression, Blinken told Estonian Foreign Minister Eva-Maria Liimets.

3:56 PM

2 million refugees fleeing Ukraine, says UN

The number of refugees fleeing Ukraine reached 2 million on Tuesday, according to the United Nations, the fastest exodus Europe has seen since World War II.

Today the outflow of refugees from Ukraine reaches two million people. Two million, Filippo Grandi, the UN High Commissioner for Refugees, wrote on Twitter.

The update came as a new effort to evacuate civilians along safe corridors finally got underway Tuesday.

3:38 PM

Indian students in Ukraine's Sumy board buses to Poltava, hope to be in safe zone soon

Several Indian students stranded in the northeastern Ukrainian city of Sumy heaved a sigh of relief as their evacuation process started on Tuesday and hoped that they would be in a safe zone soon.

"The evacuation from Sumy has started. There was finally some good news on Tuesday. All Indian students will be evacuated from Sumy on Tuesday itself. They will be taken to a safe location from where they will be brought to India," said Anshad Ali, a student coordinator.

3:23 PM

Ukraine asks IAEA to ban Russia from accessing technological resources

Ukraine has asked International Atomic Energy Agency (IAEA) to ban Russia from accessing its technological resources as well as break off its relations with Russian citizens in UN structures related to the nuclear field, Ukraine's energy ministry said on Tuesday, the ANI reported.

The statement issued by the Energy Ministry on Facebook called for "prohibiting Russia's access to intellectual and technological resources of IAEA, breaking relations with Russian citizens engaged in UN nuclear energy-related structures".

The statement further appealed for an immediate ceasefire and prohibition of the occupation troops to approach closer than 30 km to nuclear energy objects.

2:26 PM

Vladimir Putin is a spent force: UK Defence Secretary

Russia's Vladimir Putin is a spent force in the world whatever happens in Ukraine, British Defence Secretary Ben Wallace said on Tuesday, predicting the invasion would be the president's end. Russia's offensive in Ukraine, which the Kremlin calls a 'special military operation', is continuing but at a significantly slower pace, Ukrainian military and intelligence said, as frightened residents fled bombed-out cities.

2:08 PM

Ukraine starts evacuating civilians from Sumy and Irpin

Ukraine began evacuating civilians from the northeastern city of Sumy and from the town of Irpin near the capital Kyiv on Tuesday, Ukrainian officials said. The evacuations began after Russian and Ukrainian officials agreed to establish "humanitarian corridors" to allow civilians out of some towns and cities besieged by Russian forces.

2:00 PM

India may consider alternative pay system for exporters if Russia-Ukraine war continues for long

India may consider alternative payment mechanisms for exporters if the Russia-Ukraine conflict continues for a long time and key trade sectors such as gems and jewellery face a problem in international cash transfer, government sources said on Tuesday.

 

This consideration came against the backdrop of the Russia-Ukraine war and sanctions being imposed by western countries, including the Group of Seven (G-7) economies, that has imposed punitive sanctions against the Russian central bank.

 

They have also decided to remove Russian banks from the SWIFT inter-banking system which is intended to isolate Russia from global trade.

 

"India is closely monitoring its foreign trade situation in the wake of the Ukraine situation and may consider alternative payment mechanisms if the adverse situation continues for a long time and key trade sectors such as gems and jewellery face a problem in international cash transfer," one of the sources said.

1:39 PM

Nissan plans to halt production in Russia after its invasion of Ukraine

Japanese automaker Nissan is planning to halt production at its plant in Russia because of logistical challenges.

 

Nissan Motor Co. did not provide a specific date but said Tuesday production will stop soon. Its plant in St. Petersburg produced 45,000 vehicles last year, including the X-Trail sport utility vehicle.

 

The Yokohama-based manufacturer said the safety of its employees is its top priority.

 

Nissan earlier stopped exports to Russia. Read on...

1:06 PM

Ukraine crisis could force govts to step up bloated fossil fuel subsidies

Sky-high oil prices resulting from a potential Russian oil import ban could force governments to pour more cash into fossil fuel subsidies to shield consumers from rising energy bills, rather than use the money to fight climate change.

 

Even before Russia's invasion of Ukraine, rising energy costs had triggered a wave of subsidies despite countries agreeing to rein them in at the COP26 climate conference in November.

 

"The last thing that governments want to do is increase any subsidies for fossil fuel use but they have to be sensitive to the price shock," said Ben Cahill, a senior fellow in the Energy Security and Climate Change Program at the Center for Strategic and International Studies (CSIS). Read on...

12:23 PM

Carmakers face soaring metal costs as supplies veer clear of Russian goods

Saving up for a new ride? Better start putting more cash aside.

 

Russia's invasion of Ukraine is ramping up the price of metals used in cars, from aluminium in the bodywork to palladium in catalytic converters to the high-grade nickel in electric vehicle batteries, and drivers are likely to the foot the bill.

 

While metals have not been the target of Western sanctions yet, some shippers and autoparts suppliers are already steering clear of Russian goods, putting more pressure on carmakers already reeling from a chip shortage and higher energy prices.

 

"So what happens from here?" asked Carlos Tavares, chief executive of Stellantis, the world's fourth-biggest automaker, when speaking to reporters last week. Read on...

12:12 PM

Ukraine conflict could send global food prices soaring: WFP chief

David Beasley, head of the World Food Programme (WFP), has warned that the conflict in Ukraine could send global food prices soaring, with a catastrophic impact on the world's poorest, the BBC reported.

 

Beasley said the conflict was putting more people at risk of starvation worldwide.

 

"Just when you think hell on earth can't get any worse, it does," the BBC quoted the WFP chief as saying.

 

Russia and Ukraine, once dubbed "the breadbasket of Europe", export about a quarter of the world's wheat and half of its sunflower products, like seeds and oil. Ukraine also sells a lot of corn globally.

 

Beasley told the BBC that the number of people facing potential starvation worldwide had already risen from 80 million to 276 million in four years prior to Russia's invasion, due to what he calls a "perfect storm" of conflict, climate change and the Covid-19 pandemic.

 

He said certain countries could be particularly affected by the current crisis, due to the high proportion of grains they currently import from the Black Sea region.