An Update on Russia & Ukraine
Image: NYT
🇺🇦 A delegation led by Ukraine’s defense minister held the first round of cease-fire talks with Russian officials in Belarus yesterday as fighting continued throughout Ukraine. The meeting concluded without any tangible results, though both sides agreed to a second round of talks.
- Moscow has deployed nearly 75% of its assembled troops into Ukraine and launched 380+ missiles, per a US defense official.
- Satellite images taken yesterday afternoon show the Russian convoy headed to Kyiv has grown from 3 to 17 miles in length.
- The head of the UN’s refugee agency said more than 500,000 Ukrainians have fled the country, with the majority of them currently in Poland.
- President Volodymyr Zelensky signed a membership application formally requesting that Ukraine join the EU. Over the weekend, EU Commission President Ursula von der Leyen said the bloc – which has no formal obligation to defend other members from attack – wants Ukraine as a member.
- Switzerland strayed from its famed doctrine of neutrality and pledged to abide by EU sanctions against Russia.
- On Monday, the Treasury Department imposed new sanctions effectively cutting off Russia’s central bank from transacting with the US dollar, both at home and abroad.
- This move came after the US and Western allies targeted ~$630 billion in Russian foreign currency reserves, which was described as Putin’s war chest to stave off sanctions. An estimated 50+% of those reserves are now off-limits to Moscow.
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| February 24, 2022An Update on Russia & Ukraine
🇺🇦 Ukrainian President Volodymyr Zelensky imposed a 30-day state of emergency yesterday and recommended that millions of citizens living in Russia leave immediately due to a growing threat of war.
- The country also called up military reservists between the ages of 18 and 60 and enacted a measure allowing all citizens to carry firearms. Zelensky has said he’ll invoke martial law if Russian troops advance any further into the country.
- "They're as prepared as they can be. And boy are they going to fight. I do believe that the Russians don't quite understand what they're going to face," a source in contact with the Ukrainian government told Axios.
- The EU announced more sanctions against Russia’s defense minister and the country’s Internet Research Agency; they’re still being referred to as the ‘first wave’ of sanctions, with more to come should Russia further escalate the conflict.
- A cyberattack on Wednesday took down Ukrainian government websites and banks, the country's digital minister confirmed on Telegram; the US has repeatedly said it believes Russia is behind recent cyberattacks against Ukraine.
- The US stock market continued to slide, with all three major indexes closing down more than 1% for the second straight day. (Dow: -1.4% | S&P: -1.8% | Nasdaq: -2.6%)
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