Latest news about Russia and the war in Ukraine

Jimmy DamonCEO and Chairman of the Board of Directors of the largest US bank by assets, indicated the possibility of An unprecedented combination of risks Facing the state in his annual shareholder letter.

Three forces are likely to shape the world over the next several decades: The US economy is recovering from the Covid pandemic; high inflation That would herald the beginning of the era of high prices, the era of Russia Invasion of Ukraine And the resulting humanitarian crisis is now underway, according to Dimon, CEO of JP Morgan.

“Each of these three factors mentioned above is unique in their own right: the dramatic stimulus-supported recovery from the COVID-19 pandemic, the potential need to raise rates quickly and reverse needed quantitative easing, the war in Ukraine and sanctions on Russia,” Dimon wrote.

“They represent very different circumstances from what we experienced in the past – and their convergence may significantly increase future risks,” he wrote. “While it is possible, and hopeful, that all of these events will have peaceful solutions, we must prepare for possible negative outcomes.”

– Hyo Soon

Russia’s economy is set to contract sharply this year while inflation is skyrocketing, as punitive international sanctions in response to its unprovoked invasion of Ukraine begin to emerge.

The S&P Global Purchasing Managers’ Index (PMI) for Russia, published on Friday, fell from 48.6 in February to 44.1 in March, with anything below 50 representing the contraction.

Read the full story here.

—Matt Clinch

Russia has suspended its simplified system for issuing visas to citizens of what it calls “unfriendly” countries.

President Vladimir Putin signed the decree on Monday, according to Reuters, and it will affect some European Union countries as well as Norway, Switzerland, Denmark and Iceland.

The United States and its European allies are preparing to impose another set of sanctions on Russia after mounting evidence of war crimes committed by its forces in Ukraine.

This was stated in a statement issued by the European Council on Monday. “The European Union condemns in the strongest possible terms the reported atrocities committed by the Russian armed forces in a number of occupied Ukrainian towns that have now been liberated,” he added.

The massacres in Bucha and other Ukrainian towns will be included in the list of atrocities committed on European soil.

International media published horrific images of residential streets littered with corpses. Russia denies the accusations, calling the photos “another provocation” by Ukraine.

Read the full story here.

—Matt Clinch

Several Russian banks were banned from the SWIFT financial messaging system in the wake of the all-out Russian invasion of Ukraine. So, what does losing access to this important part of the international economy mean, and are there any viable alternatives?

CNBC’s Nissa Anwar has the full story.

British Foreign Secretary Liz Truss will travel to the Polish capital on Monday to meet her Ukrainian and Polish counterparts, ahead of talks with the Group of Seven and NATO allies later this week.

Truss is expected to call for tougher sanctions against Russia in a bid to bolster Ukraine’s negotiating position in peace talks.

“Putin has yet to show that he is serious about diplomacy,” Truss said in a statement. “The tough approach of the UK and our allies is vital to strengthening Ukraine’s hand in negotiations.”

“Britain helped lead the way with sanctions to cripple Putin’s war machine. We will do more to intensify the pressure on Russia and we will continue to push others to do more.”

– Sam Meredith

Here is a selection of photos depicting the Russian war in Ukraine over the past 24 hours:

– Sam Meredith; Getty Images

European leaders have called for a wave of tougher economic sanctions against Russia amid the devastation of the Ukrainian city of Bucha.

German Defense Minister Christian Lindner said the European Union should discuss a ban on the import of Russian gas shipments.

This appears to represent a major policy shift for Europe’s largest economy, and comes as pressure grows on policymakers to isolate the Kremlin further on the world stage.

Berlin has so far resisted calls for a ban on Russian energy exports, citing the region’s dependence on Russian gas. Russia supplies about 40% of Europe’s gas supplies.

Separately, Italian Foreign Minister Luigi Di Maio told the country’s Rai 3 channel that events in Boca would lead to a new wave of sanctions, Reuters reported, before adding that there could soon be a debate on whether to ban the import of fossil fuels. Russian.

– Sam Meredith

The Georgian Foreign Ministry strongly condemned the killings in Ukraine’s Bucha, saying they were “devastated by scenes of brutal atrocities”.

“All those involved in these war crimes must bear responsibility,” the ministry said on Twitter.

Separately, President Salome Zurabishvili said the “massacre” in Bosha was a “crime against humanity”.

Russia recognized the independence of the breakaway regions of South Ossetia and Abkhazia after fighting a war with Georgia in 2008.

The country, which borders Russia and lies at the intersection of Europe and Asia, has repeatedly expressed support for the people of Ukraine but refused to join economic sanctions aimed at isolating the Kremlin.

– Sam Meredith

Russia’s deputy representative to the United Nations Security Council requested an emergency meeting on Monday, citing “the provocations of Ukrainian radicals in Bucha.”

This comes in the wake of the devastation in Bucha, a town on the outskirts of Kyiv that was liberated by Ukrainian forces.

Ukraine has accused Russia of perpetrating the massacre of civilians in Bucha, with international leaders condemning the video footage and photos of the bodies and calling for an independent investigation.

Russia has denied allegations that its forces killed civilians in Bucha.

“In light of the provocations of Ukrainian radicals in Bucha, Russia requested a meeting of the United Nations Security Council in the second half of Monday, April 4,” Dmitry Polyansky was quoted as saying by the official TASS news agency. “We will unmask the Ukrainian agitators and their Western sponsors.”

Polyansky did not explain how provocative the Ukrainians were in Bucha, the city invaded by Russian forces as part of their failed attempt towards Kyiv.

– Sam Meredith

Ukrainian Deputy Prime Minister Irina Vereshuk said humanitarian corridors have been established in Mangosh, Mariupol and Luhansk.

Vereshuk said a corridor was set up on Monday to transport people from the besieged city of Mariupol to Zaporizhia.

Meanwhile, the Red Cross plans to continue its movement from Mangosh to Mariupol, with seven buses on the way, Vereshuk said, while evacuations continue in the Luhansk region.

– Sam Meredith

Ukraine accused Russian forces of committing a “massacre” in the town of Bucha, while Western leaders responded to photos of bodies in the Kyiv suburbs and called for an independent investigation.

Russia has denied the allegations, describing video footage and photographs of the bodies as “another provocation” by the Ukrainian government.

German Chancellor Olaf Schulz described the Bucha killings as “horrific and horrific”, while German Foreign Minister Annallina Barbock described the images as “unbearable”.

UN Secretary-General Antonio Guterres said he was “deeply shocked” by the images of the civilian deaths in Bucha, and US Secretary of State Anthony Blinken said it was akin to a “punch in the gut”.

New Zealand Prime Minister Jacinda Ardern described the reported atrocities as “reprehensible” and Japanese Prime Minister Fumio Kishida told reporters he strongly condemned the attacks.

– Sam Meredith

Russian forces continue to refocus their offensive in the Donbass region of eastern Ukraine, according to the British Ministry of Defense.

“Russian forces, including mercenaries from the state-owned Wagner PMC, are being transferred to the region,” the ministry said via Twitter.

– Sam Meredith