RUSSIA-UKRAINE WAR: UKRAINE SAYS RUSSIAN TROOPS WERE FORCED OUT OF KYIV SUBURBS; ZELENSKYY IS READY TO ABANDON NATO'S CEASEFIRE DEMAND

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Russia Live coverage of the Ukraine War Crisis: Ukraine's President, Volodymyr Zelenskyy, stated late Monday that he was willing to discuss a cease-fire, the departure of Russian soldiers, and a guarantee of Ukraine's security in exchange for a cease-fire, a cease-fire, and a guarantee of Ukraine's security. Meanwhile, the Ukrainian army said that after a tough struggle, Russian troops were pushed out of Makariv, a strategically important Kyiv suburb.

On Monday, the fight for Ukraine's important port of Mariupol raged as Ukraine refused a Russian offer to withdraw the besieged city's forces. The city, as well as other Ukrainian cities, continued to be bombarded by Russian artillery. About 400 civilians were taking cover at an art school in the Sea of Azov port city when it was hit by a Russian bomb, according to Zelenskyy.

India has been "slightly unsteady" in backing sanctions on Russia, according to US President Joe Biden, referring to India's fragile relationship with Russia over the Ukraine crisis. Hardeep Singh Puri, India's petroleum minister, said on Monday that while India is buying more crude oil from Russia, it still accounts for less than 1% of overall oil imports, while volumes from the United States will increase dramatically.

After crossing the border from Ukraine, the Indian Express has arrived at the frontlines of the war in Warsaw, Poland, where fleeing children, women, and elderly men are seeking refuge. The railway station at the centre of Poland's enormous mobilisation, Warsaw Central, is assisting those leaving. It's a transportation point from where the refugees — almost 2 million of the 3.9 million who have fled Ukraine — board trains and buses to other cities throughout the country and Europe.

A city welcomes war refugees at Warsaw Central.

The buses continue to arrive. The Russian invasion of Ukraine now in its 25th day, and despite yet another round of talks for an illusive cease-fire — this time with Turkey claiming some common ground — the buses keep rolling in. Bringing children, women, and elderly men who are fleeing. Hungry and exhausted, they flee the conflict, bringing just what they can fit into small bags, leaving behind their homes, families, friends, and pets. Hundreds of volunteers greet them and provide information on where and how they might go next, as well as translation services, hot meals, candies, and emotional support. Welcome to Warsaw Central, the centre of Poland's tremendous mobilisation to assist refugees escaping Russia's invasion of Ukraine. It's a transportation point from where the refugees — almost 2 million of the 3.9 million who have fled Ukraine — board trains and buses to other cities throughout the country and Europe.

Why did India's foreign exchange reserves plummet by about $10 billion, to their largest level in two years?

The rupee declined against the US dollar amid rising crude oil prices and capital outflows due to continued selling by foreign portfolio investors, reducing India's foreign exchange reserves by $9.64 billion to $622.275 billion in the week ending March 11, 2022. (FPIs). This is the largest drop in reserves in over two years, following a $11.98 billion drop in the week ending March 20, 2020, when India was rocked by the Covid-19 outbreak and FPIs withdrew cash. Foreign investors withdrew Rs 41,617 crore in March, putting significant pressure on the rupee. After withdrawals of Rs 45,720 crore in February and Rs 41,346 crore in January, this outflow has occurred. Since October 1, 2021, FPIs have withdrawn out Rs 225,649 crore (excluding FPI investments in IPOs), primarily in anticipation of a rate hike by the US Federal Reserve. Furthermore, as the Russia-Ukraine conflict escalated, Brent crude prices rose to a near 14-year high of $140. Because India imports roughly 80% of its domestic needs, high crude oil prices would have resulted in a significant increase in the dollar demand.

 

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