Russian nuclear forces
Quiet night in Ukraine capital even as Russia tensions flare
President Vladimir Putin dramatically escalated East-West tensions by ordering Russian nuclear forces put on high alert following new crippling Western sanctions that forced his Central Bank to sharply raise its key rate Monday to save the ruble from collapse.
The explosions and gunfire around the Ukrainian capital besieged by the Russian forces appeared to subside overnight, and the Russian military offered to allow residents to leave Kyiv via a safe corridor while it has beefed up for an onslaught on the capital.
Ukraine has agreed to talks with Moscow, and its delegation was heading to the border with Belarus in the north for the meeting.
Read: A shelling, a young girl, and hopeless moments in a hospital
Citing “aggressive statements” by NATO and tough financial sanctions, Putin on Sunday issued a directive to increase the readiness of Russia's nuclear weapons, raising fears that the invasion of Ukraine could lead to nuclear war, whether by design or mistake.
The Russian leader is “potentially putting in play forces that, if there’s a miscalculation, could make things much, much more dangerous,” said a senior U.S. defense official, speaking on condition of anonymity to discuss rapidly unfolding military operations.
Putin's directive came as Russian forces encountered strong opposition from Ukraine defenders. Moscow has so far failed to win full control of Ukraine’s airspace, despite advances across the country. U.S. officials say they believe the invasion has been more difficult, and slower, than the Kremlin envisioned, though that could change as Moscow adapts.
The conflict — seemingly more quiet overnight Sunday than in past nights — could evolve significantly if Russia gets military help from neighboring Belarus, which is expected to send troops into Ukraine as soon as Monday, according to a senior American intelligence official with direct knowledge of current U.S. intelligence assessments who spoke anonymously because he was not authorized to speak publicly. The official said that whether Belarus enters the war depends on Ukraine-Russia talks set to happen in coming days.
Amid the mounting pressure, Western nations said they would tighten sanctions and buy and deliver weapons for Ukraine, including Stinger missiles for shooting down helicopters and other aircraft. European countries will also supply fighter jets to Ukraine, EU foreign policy chief Josep Borrell said.
Ukrainian President Volodymyr Zelenskyy’s office, has confirmed a meeting with a Russian delegation at an unspecified location on the Belarusian border.
It wasn’t immediately clear when the meeting would take place, nor what the Kremlin was ultimately seeking, either in those potential talks on the border or, more broadly, from its war in Ukraine. Western officials believe Putin wants to overthrow Ukraine’s government and replace it with a regime of his own, reviving Moscow’s Cold War-era influence.
The fast-moving developments came as scattered fighting has continued around Kyiv. Battles also broke out in Ukraine's second-largest city, Kharkiv, and strategic ports in the country's south came under assault from Russian forces.
By late Sunday, Russian forces had taken Berdyansk, a Ukrainian city of 100,000 on the Azov Sea coast, according to Oleksiy Arestovich, an adviser to Zelenskyy’s office. Russian troops also made advances toward Kherson, another city in the south of Ukraine, while Mariupol, a port city on the Sea of Azov that is considered a prime Russian target, is “hanging on," Arestovich said.
Russian Defense Minister Maj. Gen. Igor Konashenkov also said troops took control of the area around the Zaporizhzhia nuclear plant in the south. He emphasized that the plant was safe and the radiation levels in the area have remained normal.
With Russian troops closing in around Kyiv, a city of almost 3 million, the mayor of the capital expressed doubt that civilians could be evacuated. Authorities have been handing out weapons to anyone willing to defend the city. Ukraine is also releasing prisoners with military experience who want to fight, and training people to make firebombs.
But Konashenkov said the military would let Kyiv residents use a highway that leads out of the city to the southwest — an offer that appeared to signal a new onslaught is coming.
A nearly 40-hour curfew in Kyiv ended on Monday morning. The curfew will resume each night, from 10 p.m. until 7 a.m.
Read: Putin puts nuclear forces on high alert, escalating tensions
In Mariupol, where Ukrainians were trying to fend off attack, a medical team at a city hospital desperately tried to revive a 6-year-old girl in unicorn pajamas who was mortally wounded in Russian shelling.
During the rescue attempt, a doctor in blue medical scrubs, pumping oxygen into the girl, looked directly into the Associated Press video camera capturing the scene.
“Show this to Putin," he said angrily. “The eyes of this child, and crying doctors."
Their resuscitation efforts failed, and the girl lay dead on a gurney, her jacket spattered with blood.
Nearly 900 kilometers (560 miles) away, Faina Bystritska was under threat in the city of Chernihiv.
“I wish I had never lived to see this,” said Bystritska, an 87-year-old Jewish survivor of World War II. She said sirens blare almost constantly in the city, about 150 kilometers (90 miles) from Kyiv.
Chernihiv residents have been told not to switch on any lights “so we don’t draw their attention,” said Bystritska, who has been living in a hallway, away from any windows, so she could better protect herself.
“The window glass constantly shakes, and there is this constant thundering noise,” she said.
Meanwhile, the Western allies announced a freeze on Russia's hard currency reserves — an unprecedented move that could have devastating consequences for the country's financial system. The ruble dived sharply on the news, and Russia’s Central Bank has raised its key rate from 9.5% to 20% in a desperate attempt to shore up the plummeting national currency and and prevent a run on banks.
The U.S., European Union and Britain also agreed to block selected Russian banks from the SWIFT system, which facilitates moving money around thousands of banks and other financial institutions worldwide.
The EU on Sunday also closed its airspace to Russian airlines and buy weapons for Ukraine. The 27-nation bloc will also ban some pro-Kremlin media outlets, said European Commission President Ursula von der Leyen.
The U.S. also stepped up the flow of weapons to Ukraine, announcing it will send Stinger missiles as part of a package approved by the White House on Friday. Germany likewise plans to send 500 Stingers and other military supplies.
Also, the 193-member U.N. General Assembly scheduled an emergency session Monday on Russia's invasion.
Putin, in ordering the nuclear alert, cited not only statements by NATO members but the hard-hitting financial sanctions imposed by the West against Russia, including Putin himself.
“Western countries aren’t only taking unfriendly actions against our country in the economic sphere, but top officials from leading NATO members made aggressive statements regarding our country,” Putin said in televised comments.
U.S. defense officials would not disclose their current nuclear alert level except to say that the military is prepared all times to defend its homeland and allies.
White House press secretary Jen Psaki told ABC that Putin is resorting to the pattern he used in the weeks before the invasion, “which is to manufacture threats that don’t exist in order to justify further aggression.”
The practical meaning of Putin’s order was not immediately clear. Russia and the United States typically have land- and submarine-based nuclear forces that are on alert and prepared for combat at all times, but nuclear-capable bombers and other aircraft are not.
While Russian troops are being slowed by Ukrainian resistance, fuel shortages and other logistical problems, a senior U.S. defense official said that will probably change. “We are in day four. The Russians will learn and adapt,” the official said.
The number of casualties from Europe's largest land conflict since World War II remained unclear amid the confusion.
Ukraine’s Interior Ministry said Sunday that 352 Ukrainian civilians have been killed, including 14 children. It said an additional 1,684 people, including 116 children, have been wounded.
Russia's Defense gave no figures on Russia's dead and wounded but said Sunday his country's losses were “many times” lower than Ukraine's.
Russia, which massed almost 200,000 troops along Ukraine's borders, claims its assault is aimed only at military targets, but bridges, schools and residential neighborhoods have also been hit.
2 years ago
Asian shares, US futures fall as Ukraine conflict deepens
Asian shares slipped Monday after Western nations moved to tighten sanctions against Russia and President Vladimir Putin escalated tensions by ordering Russian nuclear forces be put on high alert.
U.S. futures fell, with the contract for the S&P 500 down 2.5% and that for the Dow industrials 1.6% lower.
Tokyo, Hong Kong and Shanghai declined while Sydney was higher.
Read:Putin puts nuclear forces on high alert, escalating tensions
Russian’s invasion of Ukraine has caused markets to swing wildly, given the potential impact on inflation, energy supplies and other repercussions.
The end of the month usually brings a raft of economic data, but for now the conflict is eclipsing other issues.
“It’s all about the Russia-Ukraine situation and evolutions in that situation will drive market sentiment and direction," Jeffrey Halley of Oanda said in a commentary.
“President Putin will now have to accept that the ‘Western' powers are prepared to accept quite a bit of economic pain now to punish Russia," he said.
The Russian ruble has weakened sharply in the past week but was steady early Monday at 83.86 to the dollar.
Putin ordered Russian nuclear weapons prepared for increased readiness to launch on Sunday ratcheting up tensions with Europe and the United States in a move that unearthed dormant fears from the Cold War era.
Japan joined moves by the U.S. and other western nations to impose sanctions against Russia, including blocking some Russian banks from the SWIFT global payment system.
The central bank restrictions target access to the more than $600 billion in reserves that the Kremlin has at its disposal, and are meant to block Russia’s ability to support the ruble as it plunges in value.
Sanctions announced earlier have taken its currency to its lowest level against the dollar in history and gave its stock market its worst week on record.
Japan's Nikkei 225 index lost 0.4% to 26,366.60 and the Hang Seng in Hong Kong lost 1.4% to 22,445.66. The Shanghai Composite index was 0.1% lower at 3,446.44. The Kospi in Seoul was nearly unchanged at 2,678.17, while in Sydney the S&P/ASX 200 gained 0.4% to 7,023.70.
Although Asia is unlikely to suffer direct damage from the war in Ukraine, higher energy prices are an unwelcome burden for oil-importing nations like Japan, especially while they are still struggling to recover from the pandemic.
Underscoring the deepening rifts due to the conflict, BP said Sunday it was exiting its 19.75% share in Rosneft, a state-controlled Russian oil and gas company, which it has held since 2013. That stake is currently valued at $14 billion.
Read:Ukraine, Russia diplomats to meet on Belarus border
Oil prices surged Monday, with U.S. benchmark crude up $4.95, or 5.4%, at $96.54 per barrel.
Brent crude gained $4.68 to $98.80 per barrel, up 4.9% and approaching the $100 per barrel level it breached last week.
On Friday, the S&P 500 climbed 2.2%, notching its first weekly gain in three weeks to close at 4,384.65. The Dow Jones Industrial Average rose 2.5% to 34,058.75. The Nasdaq composite gained 1.6% to 13,694.62 after swinging between modest gains and losses. The Russell 2000 index rose 2.3%, to 2,040.923.
The Ukraine conflict has heaped uncertainty atop other worries over interest rates and inflation.
The U.S. Federal Reserve has suggested it will raise short-term interest rates next month by double its usual increase, the first rate increase since 2018. Higher U.S. rates tend to put downward pressure on all kinds of investments, and can have global repercussions.
In currency trading, the U.S. dollar inched down to 115.46 Japanese yen from 115.77 yen. The euro was barely changed, at $1.1155, down from $1.1157.
2 years ago