President Joe Biden banned Russian oil and other energy imports to the United States, piling pressure on Vladimir Putin to halt the assault on Ukraine, but an effort to evacuate civilians from the besieged port city of Mariupol failed.
Ukraine's government accused Russia of shelling a humanitarian corridor it had promised in Mariupol.
09 Mar 2022, 08:22:44 AM IST McDonald's Corp, Starbucks shut shop
McDonald's Corp, Starbucks and L'Oreal are temporarily closing all outlets in Russia. Coca-Cola and Pepsi suspended soda sales in the country.
09 Mar 2022, 08:22:44 AM IST Ukrainian troops repulsed efforts by Russian forces
Ukrainian troops repulsed efforts by Russian forces to enter the eastern city of Kharkiv, regional governor Oleh Synehubov said.
Russian forces have repeatedly tried to seize the southern regional capital of Mykolayiv in attacks that have been repulsed by Ukrainian troops, a Ukrainian presidential adviser said
09 Mar 2022, 08:22:45 AM IST Russia sanctions
Biden acknowledged the ban on Russian energy imports, which has bipartisan support, would drive up U.S. energy prices.
Britain said it aimed to phase out imports of Russian oil by the end of 2022. The EU plans to cut dependency on Russian gas this year by two-thirds.
09 Mar 2022, 08:22:45 AM IST Oil continued its rally near $126 a barrel
Oil continued its rally near $126 a barrel after President Joe Biden said the U.S. would ban the import of Russian crude, escalating efforts to hobble the nation’s economy that will further strain global energy markets.
Futures in New York have soared more than 35% since the invasion of Ukraine almost two weeks ago, and settled at the highest since 2008 on Tuesday. The U.K. said it would also phase out Russian crude imports by the end of the year, and Shell Plc and BP Plc are halting new purchases, but other European nations have been reluctant to commit to similar action.
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