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Ukraine crisis: Biden says ‘there still time to avoid war’

Developments so far:

US announces tough new sanctions against Russia:

US President Joe Biden on Tuesday announced tough new sanctions on Russia for “beginning” an invasion of Ukraine but said there was still time to avoid war, even as Vladimir Putin signaled plans to send troops beyond Russia’s borders.

Russia latest:

Russia’s upper house, the Federation Council, gave Putin unanimous approval to deploy “peacekeepers” to two breakaway Ukrainian regions now recognized by Moscow as independent, and potentially into other parts of Ukraine after Putin asks lawmakers to approve army’s use outside Russia.

Japan imposed restriction of Russia:

Japan is imposing sanctions on Russia over its actions in Ukraine, including prohibiting the issuance of Russian bonds in Japan and freezing the assets of certain Russian individuals, Prime Minister Fumio Kishida said on Wednesday.

White House has began referring to Russian troop deployments as Invasion:

After initially hesitating to use the term, US finally decided to use the term that is a red line that President Joe Biden has said would result in the U.S. levying severe sanctions against Moscow.

UK imposes sanctions against 5 Banks:

UK to impose sanctions on five Russian banks, three ‘very high-net-worth individuals’ following Moscow troop deployment, AFP News Agency quotes UK PM Boris Johnson.

Germany halts Nord Stream 2 Gas pipeline:

Germany has taken steps to halt the process of certifying the Nord Stream 2 gas pipeline from Russia, Chancellor Olaf Scholz said Tuesday, Scholz told reporters in Berlin that his government was taking the measure in response to Moscow’s actions in Ukraine.

US welcomes German stand on Pipeline:

The White House on Tuesday welcomed the halt of the Nord Stream 2 with Russia and added that it will impose its own sanctions. 

China expresses concern:

Meanwhile, China’s Foreign Minister Wang Yi on Tuesday expressed concerns over the “worsening” situation in Ukraine.

Ukraine takes tough stand:

Ukrainian President Volodymyr Zelenskiy in a statement on Tuesday accused Russia of wrecking peace efforts and violating the sovereignty and territorial integrity of his country. “…we are on our own land, we are not afraid of anything and anybody, we owe nothing to no one, and we will give nothing to no one,” Zelenskiy said.

India takes a neutral stand- talks of de-escalation of tensions:

HV Shringla Indian Foreign Secretary on Russia-Ukraine: This morning we made a statement at UNSC. We’ve been clear there should be de-escalation of tensions, that world can’t afford another conflict, that diplomacy & diplomatic efforts are the only way to reach an amicable solution acceptable to all

We’ve been in touch with all concerned. EAM was at Munich Security Conference, he met a lot of our interlocutors. Our approach has been- de-escalate, de-conflict. Diplomacy the only option. We don’t want to see anything that results in further escalation of situation.

Oil Prices head North:

Oil nears $100 as west prepares more sanctions against Russia.

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