Thursday 24 February 2022

Thursday Briefing: Russia invades Ukraine in Europe's 'darkest hours' since WWII

Thursday, February 24, 2022

by Farouq Suleiman

Sponsored by   Nomura
Advertisement Advertisement

Hello

Here's what you need to know.

Russia invades Ukraine in Europe's 'darkest hours' since WWII, NATO puts warplanes on alert, and U.S. banks tackle Russia sanctions fine print.

Today's biggest stories

Servicemen ride on an armoured vehicle with the letter 'Z' on it, after Russian President Vladimir Putin authorized a military operation in eastern Ukraine, in the town of Armyansk, Crimea, February 24, 2022. REUTERS

RUSSIA ATTACKS UKRAINE

In the biggest attack by one state against another in Europe since World War Two, Russia launched an all-out invasion of Ukraine by land, air and sea - a confirmation of the worst fears of the West.

The United States and its allies will impose "severe sanctions" on Russia after its military forces launched an attack on Ukraine, Joe Biden said. The U.S. president said he spoke with Ukrainian President Volodymyr Zelenskiy and briefed him on the steps Washington was taking to rally international condemnation of Russia.

Putin's Ukraine assault confounds Biden's strategy and puts his leadership to the test. How Biden handles this crisis is expected to have profound implications for his political fortunes and U.S. relations with the world.

The President of the European Commission Ursula von der Leyen said the EU will hold Moscow accountable for the "unjustified" attack on Ukraine.

Here is a rundown of quotes from leaders and other senior figures shaping events after Russian forces invade Ukraine.

Models of oil barrels and a pump jack are displayed in front of a rising stock graph and "$100" in this illustration taken February 24, 2022. REUTERS/Dado Ruvic

MARKETS

Oil prices broke above $100 a barrel for the first time since 2014, stock markets slumped and the rouble hit a record low on Thursday after Russian President Vladimir Putin launched an invasion of Ukraine

The rouble tumbled to an all-time low against the dollar and euro in highly volatile trading after Putin ordered Russian forces to invade Ukraine. Russia's invasion saw investors scrambling for the safety of gold and the protection of inflation hedges.

The Moscow Exchange suspended trading on all markets, saying the exchange will announce the resumption of trading at a later date.

The United States imposed sanctions on the company in charge of building Russia's Nord Stream 2 gas pipeline, expanding penalties on Moscow after it recognized two breakaway regions in eastern Ukraine.

Lawyers and industry executives said U.S. banks were well-prepared for the Western sanctions announced so far over Russia's aggression towards Ukraine, but they are still nailing down details and worry that new measures could increase the cost and complexity of enforcing the new restrictions.

U.S.

Two prosecutors who had been leading the Manhattan district attorney's criminal probe into former President Donald Trump and his business practices have resigned, the district attorney's office said.

A jury was set to deliberate for a second day on whether three former Minneapolis police officers - Tou Thao, J. Alexander Kueng, and Thomas Lane - denied George Floyd his civil rights.

Florida's House of Representatives was expected to take a final vote on a Republican-backed bill that prohibits classroom discussion of sexual orientation and gender identity, a measure Democrats denounced as being anti-LGBTQ.

Courts in North Carolina and Pennsylvania approved new congressional districts that could bolster Democrats' chances of holding onto the U.S. House of Representatives in November, after Republican efforts to install more advantageous maps for their party failed in both states.

The husband of cinematographer Halyna Hutchins has said he was "so angry" that actor Alec Baldwin denied responsibility for her death after Baldwin shot her during the filming of the Western "Rust."

More than two dozen 18-wheeler trucks, along with some 50 pickups and recreational vehicles, left Adelanto, California. The self-styled 'People's Convoy' is beginning an 11-day trek to the Beltway, a major highway encircling the U.S. capital, to demand an end to COVID-19 vaccine and mask requirements.

Sponsored by Nomura

The global reset is an opportunity

Presenting actionable insights to rethink your financial strategy

Find out more

Quote of the day

"President Putin, in the name of humanity, bring your troops back to Russia."

Antonio Guterres

United Nations Secretary-General

U.N. Secretary-General to Putin: In the name of humanity, stop this war

Video of the day

Officer tied to Breonna Taylor case goes on trial

The trial of a white former Kentucky police officer charged with wanton endangerment during the 2020 shooting death of Breonna Taylor began on Wednesday, casting a spotlight on another case in the United States that sparked a summer of protests against racial injustice two years ago.

And finally…

A good day to die: doom for the dinosaurs came in springtime

On a spring day 66 million years ago, paddlefish and sturgeon swam in a river that meandered through a flourishing landscape populated by mighty dinosaurs and small mammals at North Dakota's southwestern corner. Death came from above that day.

More from Reuters

COVID-19 The Great Reboot Disrupted Legal News Breakingviews

Thanks for spending part of your day with us.

Share your thoughts

You are receiving this email because you signed up for newsletters from Reuters. No longer want to hear from us? Unsubscribe from The Reuters Daily Briefing.

Terms, conditions, and privacy statement

© 2022 Thomson Reuters. All rights reserved.
3 Times Square, New York, NY 10036