Russia-Ukraine War News: What you need to know right now - Latest updates

Russia-Ukraine War Latest News: The United States imposed sanctions on Russia`s central bank and other sources of wealth, dealing a crushing blow to the country`s economy and further punishing Moscow.

Russia-Ukraine War Latest News: Here`s what you need to know about the Ukraine crisis right now: Reuters pic.

Russia-Ukraine War Latest News: Here`s what you need to know about the Ukraine crisis right now:'

HEADLINES

* A huge Russian armoured column bore down on Kyiv on Tuesday, after the lethal shelling of civilian areas in Ukraine`s second largest city raised fears that frustrated Russian commanders could resort to more devastating tactics.

TRENDING NOW

* The West must not build military facilities in any countries of the former Soviet Union, Russian Foreign Minister Sergei Lavrov was quoted as saying.

* The 193-member U.N. General Assembly began meeting on the crisis ahead of a vote this week to isolate Russia.

* Russian President Putin told France`s President Emmanuel Macron a Ukraine settlement was only possible if Kyiv was neutral, "denazified" and "demilitarised" and Russian control over annexed Crimea was formally recognised, the Kremlin said.

* Ukraine`s Western allies increased weapons transfers in support, and Britain called for such transfers to be expanded. Finland agreed to ship 2,500 assault rifles and 1,500 anti-tank weapons. Canada will supply anti-tank weapons and upgraded ammunition, Prime Minister Justin Trudeau said.

MARKETS, SANCTIONS AND OTHER REACTIONS

* Major investors, including hedge fund Man Group and British asset manager abrdn, said on Tuesday they were cutting their positions in Russia. Their pronouncements came as ripple effects of sanctions on Russia were making themselves felt, with Visa Inc and Mastercard Inc blocking multiple Russian financial institutions from their networks.

* Global supply chains, already hit hard by the pandemic, are facing further disruption and cost inflation as airspace closures after Russia`s invasion of Ukraine affect the air freight industry.

* Shipping giant Maersk will temporarily halt all container shipping to and from Russia, deepening the country’s isolation.

* The head of Stellantis said on Tuesday the company had set up a task force to conform with any sanctions and monitor its staff in Ukraine, hours before the world`s No.4 carmaker presents its strategic plan for the next few years.

* The United States imposed sanctions on Russia`s central bank and other sources of wealth, dealing a crushing blow to the country`s economy and further punishing Moscow.

* European stocks fell on Tuesday, kicking off March on a glum note after ceasefire talks between Moscow and Kyiv failed to reach a breakthrough.[MKTS/GLOB]

* Airlines braced for potentially lengthy blockages of key east-west flight corridors after the European Union and Moscow issued tit-for-tat airspace bans.

* TotalEnergies condemned what it called Moscow`s military aggression in Ukraine but stopped short of following rivals such as Shell and BP, which have said they will exit positions in resource-rich Russia.

QUOTES

* "I took a train from Kyiv to Lviv to a point where the taxi put us. I walked the last 50 kilometres," a Ukrainian woman said on arrival at a border crossing with Poland in snowy, freezing weather.

* "There are bombings, sirens, we have to go (downstairs). We also receive treatment here, medications we have, but we need more food ... basic stuff," said a tearful Maryna, a mother at a Kyiv children`s hospital where her nine-year-old son was suffering from blood cancer.

COMING UP

* 1030 GMT on Tuesday: Finance ministers of the Group of Seven countries to discuss Ukraine.

* 0200 GMT on Wednesday: Ukraine among the issues U.S. President Joe Biden will address in his State of the Union speech to Congress.

TAGS: