Categories: News

Russia-Ukraine war latest news: LIVE UPDATES OF DAY 5

The outlook for the Russian economy is “dire”, according to one analyst, as the impact of western sanctions on Vladimir Putin’s regime began to be felt.

The rouble crashed more than 40% in value in early trading on Monday, slumping from 83.7 to the US dollar to 119.

Advertisement

A tough day looks in store for the Central Bank of Russia which has had its assets frozen as part of the sanctions and will be limited in how much it can support the currency.

A chart from tradingeconomics.com showing the movement of the US dollar against the rouble. Photograph: Trading Economics

“The situation is dire for the Russian economy,” said Christopher Vecchio, senior strategist with IG Group’s DailyFX.com in New York.

“Now unable to import or export goods and services thanks to the Swift sanctions, unable to sell foreign currency reserves thanks to the [central bank] asset freeze, and a Russian economy ringfenced from the global financial system, a currency crisis has emerged for Russia. High inflation is coming, as is an immediate lurch into recession.”

Advertisement

Other market moves include a 5% jump in Brent crude oil and a more losses on Asian stock markets where Putin’s raising of the nuclear threat has spooked investors.

Last Updated: 04:57 Monday, 28 February 2022

Advertisement

10m ago

Here’s a look at how the crisis is playing out in some of the world’s media:

Advertisement

Last Updated: 04:52 Monday, 28 February 2022

16m ago

Advertisement

Over 90% of Ukrainians have said they support president Volodymyr
Zelenskiy, according to a poll conducted by the Rating Sociological group this weekend.

According to the data compiled from two thousand respondents from across Ukraine, 91% of respondents backed Zelenskiy, only 6% said they did not support him and 3% remained undecided.

Advertisement

The support is a threefold increase from December last year.

Residents in Crimea and the rebel-held areas in eastern Ukraine were excluded from the survey, according to the BBC.

Advertisement

When asked about the chances of Ukraine being able to repel the Russian assault, 70% said they believed it was possible.

Last Updated: 04:47 Monday, 28 February 2022

Advertisement

29m ago

Canada has said Aeroflot Flight 111 violated its airspace closure for Russian flights

Advertisement

Transport Canada said they are aware that Aeroflot flight 111 “violated the prohibition put in place earlier today on Russian flights using Canadian airspace” and would be “launching a review” of the conduct of the aircraft and the independent air navigation service provider, NAVCAN.

“We will not hesitate to take appropriate enforcement action and other measures to prevent future violations,” the agency said.

Advertisement

Last Updated: 04:38 Monday, 28 February 2022

46m ago

Advertisement

Japanese chief cabinet secretary Hirokazu Matsuno said on Monday that Japan was asked to join in measures blocking Russia from Swift by western nations and was working with them to make the measures effective, Reuters reports.

He said Japan will continue to cooperate with other nations, including the G7, but declined to comment when asked about sanctions on the Russian central bank.

Advertisement

Last Updated: 04:17 Monday, 28 February 2022

1h ago

Advertisement

US president Joe Biden is set to host a call with western allies and partners on Monday at 11.15am ET (4.15pm GMT) to discuss developments regarding Russia’s attack on Ukraine and to coordinate united response, the White House has said in a statement.

Last Updated: 04:05 Monday, 28 February 2022

Advertisement

1h ago

A missile has reportedly hit a residential building in the centre of Chernihiv, causing a fire to break out, Ukraine’s state service of special communications is reporting.

Advertisement

Chernihiv is about 150km north-east of Kyiv.

“A rocket hit a residential building in the centre of Chernihiv. A fire broke out, two lower floors are on fire. The number of injured is currently unknown,” the agency said in a brief statementon the Telegram messaging app.

Advertisement

The development follows reports from the Kyiv Independent newspaper of an air raid alert that sounded in the city about4.30am local time with residents being urged to head to the nearest shelter.

Last Updated: 03:58 Monday, 28 February 2022

Advertisement

1h ago

Zelenskiy says next 24 hours ‘crucial period’ in call to Johnson

In his call with Ukrainian president Volodymyr Zelenskiy, British prime minister Boris Johnson said the UK would not only continue to supply defensive weapons to Ukraine but would assist other countries in doing so as well.

Advertisement

According to a recently released statement, a No 10 spokesman said:

President Zelenskiy said he believed the next 24 hours was a crucial period for Ukraine, and the prime minister said he would do all he could to help ensure defensive aid from the UK and allies reached Ukraine.”

The call follows a donors conference on Friday where defence secretary Ben Wallace said Britain would deal with the logistics of getting equipment into a war zone.

Advertisement

The UK has also said it will send £40m more in aid to provide vital medical supplies and assistance to Ukraine, widening economic and military support to bolster the Ukrainian resistance to the Russian invasion.

Last Updated: 03:49 Monday, 28 February 2022

Advertisement

2h ago

Blasts are being heard in the Ukrainian capital of Kyiv and in the major city of Kharkiv on Monday morning, Ukraine’s state service of special communications has said.

Advertisement

Kyiv had been quiet for a few hours prior to that, it said in a brief statement on the Telegram messaging app.

“Explosions are heard again in Kyiv and Kharkiv. Before that, it was calm in the Ukrainian capital for several hours,” the agency said.

Advertisement

Meanwhile, the Kyiv Independent newspaper is reporting an air raid alert has been sounded in Chernihiv. Residents are being urged to head to the nearest shelter, the publication reports.

Last Updated: 03:29 Monday, 28 February 2022

Advertisement

2h ago

For the first time since 1982, the UN security council has called for a united nations general assembly emergency special session to be held on Monday.

Advertisement

The measure convening the emergency session was adopted by a vote of 11 in favour, with Russia voting against, and China, India and the United Arab Emirates abstaining, according a recent statement from the agency.

Advertisement
citynews

Recent Posts

BREAKING: Tinubu govt drops treason charges against EndBadGovernance protesters

  The Federal High Court in Abuja has dismissed the treason charges brought against the…

3 hours ago

#USRoadToWhiteHouse2024: Trump-Harris polls remain tied in battleground states…

What to know about the end of the #USElection2024 campaign The most recent polling analysis…

3 hours ago

#USElection2024 Live Updates: Trump Vs Harris…Latest Results…Latest Polls

#US election 2024 Live Updates:  What you need to know about USelection2024 latest polls •…

3 hours ago

Prince Harry and Meghan Markle pursue separate projects

A royal commentator suggests that Prince Harry and Meghan Markle are taking separate paths in…

6 hours ago

#USElection2024: Trump, Harris close campaign in swing states on eve of deadlocked election

PHILADELPHIA/GRAND RAPIDS, Michigan (Reuters) -Donald Trump and Kamala Harris both predicted victory as they campaigned…

6 hours ago

‘He’s With Us’, EFCC Confirms Ex-Gov Okowa’s Arrest Over N1.3trn Diversion

The Economic and Financial Crimes Commission (EFCC) arrested Ifeanyi Okowa, the immediate past governor of…

6 hours ago