# Ukraine and Russia: What you need to know right now Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2022-03-09 Category: NEWS Category URL: https://financedigest.com/category/news Meta Title: Latest Ceasefire in Ukraine to Allow Civilians to Flee Meta Description: Russia declared a new ceasefire to let civilians flee Ukrainian cities, as tensions rise over food crisis, sanctions and diplomatic efforts. URL: https://financedigest.com/ukraine-and-russia-what-you-need-to-know-right-nowhtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/2022-03-09t020437z3lynxmpei2603artroptp4ukraine-crisis-kharkiv-1737287388979-compressed.jpg) (Reuters) – Russia announced a new ceasefire in Ukraine on Wednesday to let civilians flee besieged cities, but there were only limited signs of progress in providing escape routes for hundreds of thousands trapped without basic supplies. CORRIDORS \\* Both Russia and Ukraine said they would “observe a regime of silence” from 0700 GMT to provide safe passage from Kyiv, Chernihiv, Sumy, Kharkiv and Mariupol. CHERNOBYL CONCERNS \\* Ukraine appealed for a temporary ceasefire on Wednesday to allow restoring [power supply to the mothballed Chernobyl nuclear power plant](https://www.financedigest.com/edpr-brings-iberias-first-wind-solar-power-plant-on-stream.html "EDPR brings Iberia’s first wind-solar power plant on-stream"). It warned of a potential radiation leak if the outage continued, even as the U.N. [nuclear watchdog](https://www.financedigest.com/uks-competition-watchdog-to-examine-edf-buying-ges-nuclear-turbine-unit.html "UK’s competition watchdog to examine EDF buying GE’s nuclear turbine unit") said the loss of power did not have critical impact on safety. SANCTIONS \\* The Kremlin accused the United States on Wednesday of declaring an economic war on Russia that was sowing mayhem through energy markets, and it put Washington on notice it was [considering its response to a ban on Russian oil](https://www.financedigest.com/explainer-why-malaysia-is-considering-a-ban-on-palm-oil-exports-to-the-european-union.html "Explainer-Why Malaysia is considering a ban on palm oil exports to the European Union") and energy. \[O/R\] \\* The European Union has [agreed more sanctions over the invasion of Ukraine](https://www.financedigest.com/u-s-ukraine-agree-to-launch-talks-to-upgrade-2008-trade-accord.html "U.S., Ukraine agree to launch talks to upgrade 2008 trade accord") that will hit Russian lawmakers and oligarchs, the maritime sector and three Belarusian banks. \\* Britain had impounded a plane linked to a [Russian billionaire](https://www.financedigest.com/billionaire-investor-yuri-milner-relinquishes-russian-citizenship.html "Billionaire investor Yuri Milner relinquishes Russian citizenship") as its new aviation sanctions kicked in.\[O/R\] \\* Russia is reducing the use of U.S. dollars following Western sanctions, the [RIA news agency](https://www.financedigest.com/board-of-russias-avtovaz-approves-585-million-in-2023-investment-programme-ria-agency.html "Board of Russia’s AvtoVAZ approves 5 million in 2023 investment programme – RIA agency") quoted a foreign ministry official as saying. DIPLOMATIC EFFORTS \\* [Russian Foreign Minister](https://www.financedigest.com/permitted-share-of-chinas-yuan-in-russian-wealth-fund-doubled-to-60-finance-minister.html "Permitted share of China’s yuan in Russian wealth fund doubled to 60% -Finance Minister") Sergei Lavrov will travel to Turkey on Wednesday for talks with his Ukrainian counterpart Dmytro Kuleba. CORPORATE EXODUS \\* Coca-Cola and McDonald’s joined a growing list of companies suspending sales in Russia where a senior member of the [ruling party has warned that foreign firms](https://www.financedigest.com/uk-watchdog-warns-crypto-firms-to-prepare-for-advertising-rule-change.html "UK watchdog warns crypto firms to prepare for advertising rule change") which close down could see their operations nationalised. [FOOD CRISIS](https://www.financedigest.com/global-food-makers-retailers-remain-in-crisis-mode.html "Global food makers, retailers remain in crisis mode") A global food crisis deepened on Wednesday as Indonesia tightened [curbs on palm oil](https://www.financedigest.com/oil-hits-3-week-high-as-china-eases-covid-curbs.html "Oil hits 3-week high as China eases COVID curbs") exports, adding to a growing list of key producers seeking to keep vital food supplies within their borders. FIGHTING \*Ukraine must hold off Russia’s attack for the next seven to 10 [days to deny Moscow claiming any sort of victory](https://www.financedigest.com/putins-victory-day-speech-leaves-no-clue-on-future-escalation.html "Putin’s Victory Day speech leaves no clue on future escalation"), a senior Ukrainian official said. \\* Ukrainian troops pushed back Russian forces trying to seize the southern regional capital of Mykolayiv, a Ukrainian presidential adviser said.\* Britain said [Ukraine’s air defences were having success against Russian](https://www.financedigest.com/ukraine-grants-citizenship-to-top-russian-journalist-who-denounced-war.html "Ukraine grants citizenship to top Russian journalist who denounced war") jets, likely preventing Russia from controlling the airspace. DEATH TOLL \\* The United Nations [human rights office said it had verified 474 civilian deaths](https://www.financedigest.com/china-records-worlds-first-human-death-from-h3n8-bird-flu-who.html "China records world’s first human death from H3N8 bird flu -WHO") and 861 injuries, but the true toll was likely to be higher. \\* Ukraine [says its forces](https://www.financedigest.com/britain-says-it-is-committed-to-leading-a-nato-task-force-in-2024.html "Britain says it is committed to leading a NATO task force in 2024") have killed more than 11,000 Russian troops. Russia has confirmed about 500 losses. Neither side has disclosed Ukrainian casualties. FLEEING THE CONFLICT About 2.1-2.2 million people have fled [Ukraine since](https://www.financedigest.com/euro-zone-economy-sentiment-rises-in-dec-first-time-since-start-of-ukraine-war.html "Euro zone economy sentiment rises in Dec, first time since start of Ukraine war") the Russian invasion begun, the head of the U.N.’s refugee agency said on Wednesday. EU officials [say up to 5 million](https://www.financedigest.com/mobile-games-developer-huuuge-says-has-24-2-million-at-svb.html "Mobile games developer Huuuge says has .2 million at SVB") could leave if the conflict continues. AID \\* U.S. congressional leaders reached a bipartisan [agreement to allocate $13.6 billion](https://www.financedigest.com/petrofac-hitachi-energy-receive-14-billion-agreement-from-tennet.html "Petrofac, Hitachi Energy receive billion agreement from TenneT") in emergency aid for Ukraine alongside a separate package for pandemic relief. \\* The International Monetary Fund is poised to [approve $1.4 billion](https://www.financedigest.com/australian-court-approves-bhps-6-4-billion-oz-minerals-takeover.html "Australian court approves BHP’s .4 billion OZ Minerals takeover") in emergency funding for Ukraine on Wednesday, its head Kristalina Georgieva said on Tuesday. (Compiled by Gareth Jones, Cynthia Osterman, Michael Perry, Raju Gopalakrishnan and Tomasz Janowski) --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---