Putin Says EU Gas Buyers Will Need Ruble Accounts, US To Release 1M Oil Barrels
Catch all the live updates from the Russia-Ukraine war here.
Neighbours trying to extinguish the fire in a house destroyed by a Russian attack in Kharkiv, Ukraine.
(Photo: PTI/AP)
Russia's Economy to Contract by 10 Percent This Year, Ukraine's by 20: EBRD Forecast
Russia's economy will contract by 10 percent this year and Ukraine's GDP by as much as 20 percent as the war causes "the greatest supply shock" in 50 years, the European Development Bank forecasts.
Before the invasion, the bank had predicted that Ukraine's GDP would grow by 3.5 percent.
West Unable to Bind Moscow: Former Russian Prez
Dmitry Medvedev, the former president of Russia, said that western efforts to bind Russia had failed as Moscow was ready to tackle sanctions placed on the country.
“Of course, there are real difficulties which Russia has to cope with, as we are still being isolated from global value-added chains, the international division of labour, facing growing unemployment and being sent into an economic turmoil,” Medvedev was quoted as saying by the TASS news agency.
“Nevertheless, the efforts to bound Russia fail as we were ready for such predictable attacks,” he added.
India Attempting to Bypass Western Sanctions Amid Trade with Russia
Indian authorities are actively considering dedicated payment mechanisms for trade with Russia to enable existing trade obligations amid sanctions imposed on Moscow by the west, Al Jazeera reported.
Experts say a payment mechanism in local currencies could pave the way for cheaper oil imports to meet India’s energy demands and create opportunities for Indian manufacturers who are looking for new markets.
Ukraine Sends 45 Buses to Evacuate Civilians from Mariupol
A convoy of 45 Ukrainian buses set out for the southern port city of Mariupol on Thursday to reach trapped civilians, the country's deputy prime minister Iryna Vereshchuk said.
US Criticises India for Trying to Bypass Sanctions Amid Trade with Russia
The United States (US) and Australia criticised India for considering a Russian proposal that would undermine sanctions imposed by the west, showcasing a deepening rift between the Quad partners as Russian Foreign Minister Sergei Lavrov travelled to New Delhi for talks.
“Now is the time to stand on the right side of history, and to stand with the United States and dozens of other countries, standing up for freedom, democracy and sovereignty with the Ukrainian people, and not funding and fueling and aiding President Putin’s war,” Bloomberg reported the US' commerce secretary Gina Raimondo as saying on Wednesday.
Russia-Ukraine Talks to Continue Tomorrow
The talks between Kyiv and Moscow will resume on Friday by video conference, AP reported David Arakhamia, head of the Ukrainian delegation, as saying.
The delegations met on Tuesday in Istanbul after two weeks of holding meetings via video.
The Ukrainian delegation offered a framework under with the country would declare itself neutral - dropping its bid to join NATO - in return for security guarantees.
'Moscow Not Opposed to Meeting Between Lavrov and Kuleba'
Moscow would not refuse a meeting between Russian Foreign Minister Sergey Lavrov and his Ukrainian counterpart Dmytro Kuleba, Russia’s RIA Novosti news agency reported the country’s foreign ministry as saying.
Turkish Foreign Minister Mevlut Cavusoglu had said on Thursday that Ankara was working to bring together the Ukrainian and Russian foreign ministers after hosting peace talks in Istanbul this week.
'Four Children Injured After Russian Phosphorous Bomb Attack'
11 people, including four children, were wounded after the Russian army used banned phosphorus bombs in the Donetsk region of Ukraine, Al Jazeera reported Pavlo Kirilenko, head of Ukraine's regional defence, as saying.
Ukrainian officials have repeatedly accused Russia of using phosphorus bombs - a charge Moscow has denied.
Red Cross to Facilitate Safe Passage of Mariupol Civilians
The International Committee of the Red Cross (ICRC) said it was preparing to facilitate the safe passage of civilians from the besieged Ukrainian city of Mariupol on Friday, provided all the parties agree to their terms.
IAEA to Monitor Nuclear Plants Captured by Russia: Ukrainian Official
The International Atomic Energy Agency (IAEA) will establish online monitoring missions to Ukraine’s Chernobyl and Zaporizhzhia nuclear plants, the head of the country’s state nuclear company said on Thursday, as per a report by Al Jazeera.
Energoatom CEO Petro Kotin said that the nuclear watchdog should use its influence to ensure that Russian nuclear officials do not interfere in the operations of the two nuclear plants, which have been occupied by the country's army.
'There Will Be Consequences': US Dy NSA on India's Continuing Ties With Russia
"There will be consequences," US Deputy NSA Daleep Singh said in Delhi, alluding to India's continuing ties with Russia despite the West's sanctions against the nation waging war on Ukraine. "If China breaches LAC again, Russia will not come running to India's defence," Singh, an Indian-American, was quoted as warning by The Hindu.
EU Gas Buyers Will Now Need Ruble Accounts in Russia: Putin
Russian President Vladimir Putin has said that EU gas buyers will need ruble accounts in Russia from 1 April, amid heavy sanctions from the West affecting Russia's economy.
Russian Foreign Minister Lavrov Arrives in Delhi, To Meet PM Modi & Jaishankar
Russia's Foreign Minister Sergey Lavrov on Thursday, 31 March, arrived in New Delhi, ahead of his meeting with Prime Minister Narendra Modi and Foreign Minister Dr S Jaishankar.
He is scheduled to meet Modi and Jaishankar on Friday.
Russian Forces Have Started Leaving Chernobyl: Ukraine
Russian troops have started leaving the Chernobyl nuclear plant which had been occupied by the invading military forces, Ukraine's nuclear agency has said.
Biden To Order Release of 1M Barrels of Oil Per Day for 6 Months
US President Joe Biden will order the release of 1 million barrels of oil per day from strategic reserve for 6 months, to bring down prices that have risen amid the Russian war on Ukraine.
"After consultation with allies and partners, the President will announce the largest release of oil reserves in history, putting one million additional barrels on the market per day on average – every day – for the next six months. The scale of this release is unprecedented: the world has never had a release of oil reserves at this 1 million per day rate for this length of time. This record release will provide a historic amount of supply to serve as bridge until the end of the year when domestic production ramps up," said the White House.
'Won't Tell India What To Do': British Official on Reports of Russian Oil Offer to Delhi
"India is a sovereign nation, I am not gonna tell India what to do," British Foreign Secretary Elizabeth Truss was quoted as saying by ANI, on being asked about India seeking to buy Russian oil at a steep discount.
"I'm very determined that we have a forward-looking relationship. We have a very strong people-to-people relationship. Our focus should be on where we want to be in next 20 years. We're both democracies, we need to work together for better future," Truss told reporters while on a visit to Delhi.
'Most Major Buyers of Russian Oil Are in Europe, Only Natural To Look for Good Deals': EAM Jaishankar
"Europe bought 15 percent more oil and gas from Russia than it did a month before. Most of the major buyers of oil and gas from Russia are in Europe. We get the bulk of our energy supplies from Middle East, about 7.5 percent-8 percent from US, maybe less than a per cent from Russia," External Affairs Minister Dr S Jaishankar said on Thursday.
"When oil prices go up, it's natural for countries to look for good deals for their people. But I'm pretty sure if we wait 2-3 months & look at the big buyers of Russian gas and oil, I suspect the list won't be any different than what it used to be and we won't be in the top 10," he was quoted as saying by ANI.
Amid heavy sanctions from the West affecting Russia's economy, Russian President Vladimir Putin announced on Thursday, 31 March that EU gas buyers will need ruble accounts in Russia from 1 April.
Meanwhile, the White House said on Thursday that US President Joe Biden will order the release of 1 million barrels of oil per day from strategic reserve for 6 months, to bring down prices that have risen amid the Russian war on Ukraine.
Peace talks between Kyiv and Moscow will resume on Friday via video conference, the head of the Ukrainian diplomatic delegation said on Thursday.
US President Joe Biden will order the release of 1 million barrels of oil per day from strategic reserve for 6 months, as per the White House
Russian troops have started leaving the Chernobyl nuclear plant which had been occupied by the invading military forces
Around 5,000 people have died since Russia's siege of Mariupol began, the city's mayor said
More than four million people have fled Ukraine amid Russia’s invasion, as per the United Nations
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