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Here Are All The Latest News And Developments From The Ukraine War: March 8

Courtesy of ZeroHedge View original post here.

Courtesy of Newsquawk, here is a summary of the relentless firehose of all Ukraine war news to hit in the past few hours.

Discussions/Negotitations:

  • Russian forces have held fire within Ukraine, as of 07:00GMT, via Reuters citing Ifx/Defence Ministry; subsequently, Ukrainian Presidential Official says the evacuation of civilians from Sumy and Irpin is underway.

Energy/Economic Updates

  • EU is reportedly considering a massive joint bond sale to finance defence and energy, according to Bloomberg citing sources; plan could be announced as early as this week. An announcement which sparked risk-on action, details here
  • EU Commission has prepared a new set of sanctions against Russia and Belarus following the invasion of Ukraine, according to Reuters sources; to be discussed today, blacklisting further oligarchs, providing guidance over monitoring crypto-assets, ban export of maritime tech to Russia.
  • EU will unveil a plan on Tuesday to reduce gas imports from Russia by two-thirds within a year, according to FT.
  • US House Majority Leader Hoyer said a bill to ban Russian oil imports could be introduced this week.
  • Shell (SHEL LN) intends to withdraw from the Russian oil and gas business, in the immediacy will cease spot purchases of Russian oil and gas.
  • Ukrainian leaders are expected to send a letter to US Congress asking the US to ban from the stock market all companies that pay taxes to Russia’s government, according to WaPo citing a letter.
  • Japanese Chief Cabinet Secretary Matsuno announced that Japan banned exports of oil refining equipment to Russia, while Japan imposed personal sanctions on another 20 Russian citizens and 12 Belarusian citizens, according to Sputnik.
  • MSCI said it is to discontinue certain indexes following the reclassification of Russia.
  • Fitch decided to suspend commercial operations in Russia with immediate effect, while it downgraded Belarus from B to CCC.
  • German Economic Affairs and Climate Action Minister Habeck does not see Russia halting flows from Nord Stream 1, according to RTL.
  • Russian gas flows to Slovakia via Ukraine have decreased sharply, via Reuters citing Entsog data.

Third Party Remarks

  • UK MPs support a package of sanctions to toughen government powers and speed up sanctions against Russian tycoons.

Defense/Military Imports

  • Russian President Putin said they will only use professional soldiers in its Ukraine operation and will not use conscript soldiers in Ukraine.
  • EU Commission VP Dombrovskis says that Russia President Putin is likely to increase his military ambitions and challenge NATO in Baltic Sea nations, unless Putin is stopped in Ukraine, via Politico; additionally, Dombrovskis was sceptical about diplomatic overtures towards Putin and maintained that nothing should be off the table re. sanctions.

Other

  • China and India are to conduct border discussions on March 11th, via Bloomberg citing an Indian official.
  • Russian Foreign Ministry says that Russian and the US should go back to the principle of peaceful co-existence as was the case during the Cold War, according to Interfax.
  • Iranian President says Tehran will not back down from its red lines regarding the nuclear deal, via Fars.
  • Qatar stepped up mediation between US and Iran regarding a nuclear deal, according to FT sources; Qatari officials have also been working to facilitate direct talks between Washington and Tehran, should a deal be reached.
  • Russia says it understands N. Korea's decision to renew missile tests, via Reuters citing Ria; when N. Korea paused missile tests it only saw increased military cooperation between Seoul and Washington.

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