Thursday, 10 March 2022

Thursday Briefing: Russia-Ukraine talks yield no progress as war enters third week

Thursday, March 10, 2022

by Linda Noakes

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Here's what you need to know.

Russia shifts its line on the bombing of a Ukrainian hospital, the UK imposes an asset freeze on Abramovich, and Rio Tinto is the first big miner to cut Russian ties

Today's biggest stories

A car burns after the destruction of Mariupol children's hospital in Ukraine, March 9, 2022

RUSSIA AND UKRAINE AT WAR

Russia's war in Ukraine entered the third week with none of its stated objectives reached, despite thousands of people killed, more than two million made refugees and thousands cowering in besieged cities under relentless bombardment.

The foreign ministers of Russia and Ukraine met in Turkey, the highest level contact between the two countries since the war began on February 24, but in simultaneous dueling news conferences made clear they had made no progress.

Russia shifted its stance over the bombing of a Ukrainian hospital in the city of Mariupol, with a mix of statements that veered between aggressive denials and a call to establish clear facts.

European Union leaders will today discuss weaning the bloc off Russian energy, but internal divisions and fear of provoking President Vladimir Putin mean they will not invite Kyiv to join their club.

The United States denied renewed Russian accusations that Washington was operating biowarfare labs in Ukraine, calling the claims "laughable" and suggesting Moscow may be laying the groundwork to use a chemical or biological weapon.

Britain will next week streamline a system to allow Ukrainians to enter the country, its interior minister said after an outcry over a requirement for people fleeing Russia's invasion to get biometric tests before being allowed in.

Here's what you need to know about the conflict right now

Graphic: Weapons of the war in Ukraine

A pedestrian carries a McCafe drink purchased at a McDonald's restaurant, with a board showing currency exchange rates seen in the background, in central Moscow, March 9, 2022

BUSINESS

Russia and Belarus are edging close to default given the massive sanctions imposed against their economies, the World Bank's chief economist, Carmen Reinhart, told Reuters. It would be Russia's first major such default since the years following the 1917 Bolshevik revolution.

Rio Tinto became the first major mining company to cut ties with Russian businesses and Japan's Sony and Nintendo suspended deliveries of their gaming consoles, joining a global corporate exodus from Russia.

Credit Suisse flagged a roughly $900 million Russian credit exposure, including lending to wealthy clients, following disclosures from Italy's UniCredit and France's BNP Paribas.

Britain imposed sanctions on Chelsea soccer club owner Roman Abramovich and Igor Sechin, the chief executive of Russian oil giant Rosneft, hitting them with asset freezes and travel bans because of their links to Russian President Vladimir Putin.

For funds undeterred in their investment choices by the killing of Saudi journalist Jamal Khashoggi or China's treatment of the Uyghurs, Russia's invasion of Ukraine is proving a wake-up call.

Yoon Suk Yeol, who was elected South Korea’s new president, is congratulated by party members and lawmakers at the National Assembly in Seoul, March 10, 2022

IN OTHER NEWS

Conservative South Korean opposition candidate Yoon Suk-yeol rode to victory in a tight presidential election on a wave of discontent over economic policy, scandals and gender wars, reshaping the political future of Asia's fourth-largest economy. We look at how the same volatile forces that brought Yoon to power may complicate his efforts to enact reforms.

Iran called on the United States to drop "unacceptable proposals" in talks on reviving Tehran's nuclear deal with world powers, while Russia's demands for guarantees from Washington complicated efforts to close an agreement.

An upstart political party that rules India's capital has swept an election in Punjab state, bolstering its hopes of becoming the main challenger to Prime Minister Narendra Modi's Bharatiya Janata Party.

U.S. local election officials are increasingly concerned about threats and political pressure fueled by baseless allegations of voter fraud in the last presidential race, and one in five say they are somewhat or very unlikely to stay in their jobs through the 2024 contest, a national survey showed.

North Korea will launch a number of reconnaissance satellites in coming years to provide real-time information on military actions by the United States and its allies, state media reported leader Kim Jong Un as saying.

Quote of the day

"We want a situation where they can't access their funds, they can't clear their payments, their trade can't flow, their ships can't dock and their planes can't land"

Liz Truss

British foreign minister

Time to get tougher with Putin, Britain tells West

Video of the day

On Syrian frontline, Ukraine evokes painful memories

As Syrian rebel fighter Abu Ahmad follows the news from Ukraine, he is reminded of the pivotal role Moscow played in turning the tide of the conflict in favour of Assad and against rebels seeking to topple him, using siege warfare and ferocious bombardment.

And finally…

Meteorite gouged huge Greenland crater 58 million years ago

The meteorite - roughly one to 1.25 miles in diameter - struck Greenland about 8 million years after a larger asteroid impact at Mexico's Yucatan Peninsula wiped out the dinosaurs.

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