Russia-Ukraine Crisis: Here's What We Know So Far

On Thursday, early morning India time, Russian President Vladimir Putin launched a 'military operation' across Ukraine, starting from the eastern, separatist-led regions of Donetsk and Luhansk.

Russia launched a barrage of missile, artillery and air attacks, reported Bloomberg. Ukraine’s government called Russia’s actions a “full-scale invasion” and imposed martial law across the country.

Through the day the attacks seem to have intensified even as world leaders called on Russia to exercise restraint. International markets, equity to commodity, were roiled by the events.

Here's what we know so far (11:30 p.m. IST update):

• Ukraine lost control of the Chernobyl nuclear site, where Ukrainian forces had waged a fierce battle with Russian troops, Bloomberg reported citing a presidential adviser.

• Russia remains part of the world economy and “for as long as it remains a part, we are not going to damage the system in which we feel we’re involved," Russian President Vladimir Putin told a meeting with billionaires and heads of leading Russian businesses, Bloomberg reported.

• U.S. President Joe Biden met with G7 counterparts on Thursday to discuss Russia-Ukraine crisis. "We agreed to move forward on devastating packages of sanctions and other economic measures to hold Russia to account. We stand with the brave people of Ukraine," President Biden tweeted.

• Ukrainian Foreign Minister Dmytro Kuleba renewed calls to cut off Russia from the Swift international payments system, and U.K. Prime Minister Boris Johnson is also pushing hard for that step, Bloomberg reported.

• Canada sanctioned 58 Russian individuals and entities, AFP reported citing Canadian Prime Minister Justin Trudeau.

• Prime Minister Narendra Modi spoke to Russian President. PM Modi sensitised President Putin about India's concerns regarding safety of its citizens in Ukraine, especially students. Both leaders agreed their officials, diplomatic teams to maintain regular contact on issues of topical interest.
  

Here's what we know so far (9 p.m. IST update):

• Russian occupation forces are trying to seize the area near the Chernobyl nuclear power plant, Ukrainian President Volodymyr Zelensky tweeted. "Our defenders are giving their lives so that the tragedy of 1986 will not be repeated. Reported this to Swedish Prime Minister Magdalena Andersson. This is a declaration of war against the whole of Europe."

• Ukraine's military has suspended commercial shipping at its ports, Reuters reported citing an adviser to the Ukrainian president's chief of staff, stoking fear of supply disruption from the leading grain and oilseeds exporter.

• U.S. President Joe Biden will speak at 12:30 p.m. eastern time on the Russia and Ukraine crisis, Bloomberg reported.

• U.S. stocks opened lower on Thursday. The S&P 500 slid 1.7%, the Dow Jones Industrial Average opened 2.1% lower in correction territory, and the tech-heavy Nasdaq 100 fell 1.4%, putting it at risk of a bear market, Bloomberg reported.
  

Here's what we know so far (7 p.m. IST update):

• There's heavy fighting at Hostomel airport, about 35 km northwest of the capital Kyiv, Bloomberg reported citing Ukrainian presidential adviser Mykhaylo Podolyak. Russia’s attack on the airport may be aimed at bringing in airborne troops and launch a potential assault on the government administration, he added.

• A Ukrainian military plane with 14 aboard crashed near Kyiv, AFP reported citing the emergency service.

• The U.S. has removed all State Department personnel from Ukraine and suspended its diplomatic presence and consular operations in the country, a U.S. official said.

• U.S. President Joe Biden is meeting G7 allies to hammer out a raft of new sanctions against Russia, AFP reported. He will later address the nation on the crisis that he warned will cause "catastrophic loss of life".

• French President Emmanuel Macron warned Russia of an uncompromising response to its attack on Ukraine, which he described as a "turning point" in European history, AFP reported.

• Warsaw’s stock market tumbled as much as 12.7% after Russia launched a military attack on Ukraine.

Here's what we know so far (5:30 p.m. IST update):

• The North Atlantic Treaty Organization has activated defence plans that give its military commanders more authority to deploy forces when needed, ANI reported, citing Secretary-General Jens Stoltenberg. "No NATO troops inside Ukraine. We are increasing the presence of NATO troops in the eastern part of the alliance on NATO territory," he said.

• Russian forces break into north of Kyiv region, AFP reported, citing Ukraine border guards.

• China rejects calling Russia's move an "invasion", urges citizens in Ukraine to stay home, Reuters reported, citing China's foreign ministry spokesperson.

• The U.K. and its allies plan a “massive package” of sanctions against Russia after its invasion of Ukraine.

Here's what we know so far (4:00 p.m. IST update):

• Ukrainian President Volodymyr Zelensky tweeted that the country will give weapons to anyone who wants to defend it. "We have severed diplomatic relations with Russia."

• The Archbishop of Canterbury, the world's highest-ranking Anglican cleric, terms the Russian attack on Ukraine "an act of great evil".

• Citizens in Kyiv took to metro stations as air raid sirens rang out across the country's main cities.

• Over 50 casualties were recorded comprising 40 Ukrainian soldiers and 10 civilians, AFP reported citing Ukrainian president Volodymyr Zelensky.

Here's what we know so far (3:00 p.m. IST update):

• There has been intense shelling by Russia targeting Ukrainian military posts and airports, according to Bloomberg, specifically in eastern Ukraine.

• Reuters reported citing Ukrainian military that five Russian planes and a Russian helicopter were shot down in the Luhansk region by Ukrainian forces.

• The Ukraine interior ministry, reported Bloomberg, warned the residents of Ukraine's capital Kyiv of a possible missile attack and urged citizens to hide in shelters. Explosions were heard in the capital and the eastern port city of Mariupol, according to AFP.

• Ukrainian border guards have reported the first death resulting from the Russian invasion. Russia's ground forces have crossed into Ukraine from several directions, reported AFP.

• According to AFP, Ukraine has killed 'around 50 Russian occupiers' in response.

• Ukraine's Minister of Foreign Affairs Dmetry Kulebo tweeted that Russia has launched a "full-scale invasion" of the country and termed it "a war of aggression".

• Shortly thereafter, Ukrainian President Volodymyr Zelensky imposed martial law in the country and said he's in talks with world leaders to help build an "anti-Putin coalition".

Here's what we know so far (2.30 p.m. IST update):

• Russia claimed to have subdued Ukrainian air defenses and knocked out the country’s military airbases, Interfax reported, citing the Defense Ministry.
  

• EU leaders to discuss “a package of massive, targeted sanctions” against Russia - Ursula von der Leyen, head of the European Commission.

• U.S. President Joe Biden described Putin's attack on Ukraine as “unprovoked and unjustified". He announced that the U.S. would impose “severe sanctions” on Russia.
  

Here's what we know so far (12:00 p.m. IST update):

• The attacks went ahead, even as European and world leaders, including the UN Secretary General Antonio Guterres at the emergency meeting of the Security Council, requested Putin to diffuse the situation.

• Putin, in a televised address, said he is aiming for "demilitarization and denazification of Ukraine", and his plans do not include occupying Ukrainian territory. Putin also warned anyone "who tries to interfere" with an immediate response and "never-before-experienced consequences".

• Brent oil breached the $100-mark for the first time since 2014 on the rising tensions. It's now trading at $103.2 per barrel.

• Gold hit its highest level in more than a year; it jumped as much as 2.1% to $1,949.03 an ounce.

• The rupee depreciated as much as 1.1% over yesterday's close to trade at 75.39.

• Sensex and Nifty tumbled closed at 5% owing to the tensions between the countries. This is the second worst day for the markets since March 2020.

• Bitcoin recovered from its 8% drop but still traded 5% lower at $35,660 after Vladimir Putin’s conflict escalation. Second-ranked Ether also pared losses to trade 8% lower from an intraday low of 12%. Other coins like XRP, Cardano and Solana were down as well.

• Finance Secretary TV Somanathan told Bloomberg he doesn't expect LIC's IPO prospects to be hit by the Ukraine situation.