Russia said it used a “Kinzhal” hypersonic missile for the first time on Friday to hit a target in western Ukraine. Ukrainian President Volodymyr Zelenskiy said peace talks are Russia’s “only chance” given the growing number of countries imposing sanctions on Russia, and he urged Moscow to begin negotiations.
US President Joe Biden warned his Chinese counterpart of “implications and consequences” if Beijing gives Russia material support. Xi Jinping told Biden China regrets the war but criticized US sanctions. That is according to official records of a two-hour meeting between the leaders on Friday, their first since the invasion of Ukraine last month.
Some investors said they were receiving interest payments on Russian debt, easing fears of default due to financial sanctions. Oilfield service providers Schlumberger and Halliburton Co. restrict their activities in Russia. Oil rose higher as the International Energy Agency warned of a supply shortage.
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Russia says it used ‘Kinzhal’ missile for the first time (8:22 a.m.)
Russia on Friday used a “Kinzhal” hypersonic missile for the first time to attack a large underground warehouse in western Ukraine, a spokesman for Russia’s defense ministry said, according to Interfax.
Igor Konashenkov told a daily briefing that the strike in the village of Delyatyn, in Ukraine’s Ivano-Frankivsk region, also cost aviation munitions. There was no immediate confirmation from Ukraine of the strike.
Russia has previously used long-range missiles to hit targets in the far west of Ukraine, not far from the border with Poland. The Kinzhal system of air-to-surface missiles is part of a series of advanced strategic weapons unveiled by Russian President Vladimir Putin in 2018.
LG stops shipments to Russia (5:12 AM)
LG Electronics Inc. suspends all shipments to Russia and joins Samsung Electronics Co. to stop sales to the country because of the invasion of Ukraine. LG is “very concerned for the health and safety of all people” and is committed to humanitarian aid, the company said by email on Saturday.
Samsung suspended deliveries to Russia earlier this month, and the government of South Korea also joined a list of countries announcing sanctions against the country.
Schlumberger suspends investments in Russia (4:23 a.m.)
Schlumberger said it will suspend new investment and the deployment of technology for its Russian operations. The oilfield contractor will “continue to actively monitor this dynamic situation and conduct all existing activities in full compliance with applicable international laws and sanctions,” Chief Executive Officer Olivier Le Peuch said in a statement.
The company previously said it would see lost profits from the combined effects of the Russian attack on Ukraine and an increasingly cramped global supply chain that is slowing product shipments. Russia accounts for about 5% of its revenue, according to one filing.
Zelenskiy reiterates need for talks with Moscow (3:33am)
Ukrainian President Volodymyr Zelenskiy said in a late-night Facebook video message from Kiev that Russian “occupation forces were stopped in almost all directions” and that the original plan to take Ukraine had failed. Due to the growing coalition of countries imposing sanctions, peace negotiations are “Russia’s only chance,” he said. “It’s time to meet, it’s time to talk,” he told Moscow.
Blinken, Kuleba discuss civilian casualties (12:45 p.m.)
Blinken and Kuleba discussed “the growing number of civilian casualties” in the war, State Department spokesman Ned Price said in a statement Friday.
During their appeal, Blinken reiterated “the strong US support to the people of Ukraine through security, humanitarian and economic aid,” Price said, adding that the secretary praised Ukrainians for defending their country against Russian forces. Kuleba and Blinken met earlier this month at the Polish-Ukrainian border.
Halliburton ends operations in Russia (12:25 p.m.)
Halliburton Co. said it is ceasing its activities in Russia and halting future activities there amid sanctions imposed in response to President Vladimir Putin’s invasion of Ukraine.
Halliburton, the world’s largest supplier of fracking, is the only one of the three major oilfield service providers to publicly announce a withdrawal from one of the world’s largest crude oil producers. Russia’s oil sector relies on foreign technology, equipment and expertise to support domestic production of the Kremlin’s main revenue streams.
Halliburton followed some of the greatest oil explorers in announcing plans to leave Russia, including BP Plc and Shell Plc. The stock of the Houston-based fracker is up 15% since Russian forces launched the attack on Ukraine late last month, nearly four times the advance in the broader market. “The war in Ukraine saddens us deeply,” Halliburton chief executive officer Jeff Miller said in a statement Friday.
Russia fears default as payments reach investors (10:38 p.m.)
Fears of bond default by Russia eased after $117 million in interest payments owed this week began reaching international investors, promising to temporarily avert a lapse that would add further uncertainty to global credit markets. have injected.
Money managers in the UK, Germany and the US said Friday they had received coupon payments on two Russian Eurobonds that were originally set to expire on Wednesday. Credit rating agencies still see significant risk of default after sanctions largely cut Russia off from global funding.
EU considers using sanctioned assets for Ukraine (10:15 p.m.)
EU officials are discussing the possibility of using the assets of sanctioned Russian magnates to help fund Ukraine’s war recovery efforts, according to three people familiar with the case.
The idea is at a very early stage and no decision has been made yet, the people said. Any decision on how to handle the assets should ultimately be taken by the Member States.
“At the moment the assets are only frozen,” said Eric Mamer, spokesman for European Commission President Ursula von der Leyen, when asked for comment. “The president has not asked to investigate this.”
Ukraine says 9,000 more civilians have been evacuated (9:25 p.m.)
More than 9,000 civilians were evacuated from combat areas on Friday, including nearly 5,000 from the besieged southern city of Mariupol, Ukrainian Deputy Prime Minister Iryna Vereshchuk said in a video statement.
Vereshchuk said seven humanitarian corridors, of the nine routes agreed, were open to evacuees, while a ceasefire was not respected in the Kharkov region, among others. Ukraine is seeking evacuations from the southwestern city of Kherson on Saturday.
Oil margins higher as IEA warns of ’emergency’ (9:15 p.m.)
Oil rose for a second day as the International Energy Agency warned markets are in an “emergency” that could get worse, pointing to looming supply difficulties from the loss of Russian exports. The WTI for April delivery rose $1.72 to settle in New York at $104.70 a barrel.
No end in sight for Ukraine-Russia talks (20:39)
Mykhailo Podolyak, Ukraine’s chief negotiator in talks with Russia, said on Friday talks could last for weeks or more as the two sides discuss security guarantees, a ceasefire, withdrawal of Russian troops and a resolution of disputed areas. Ukraine, he said, will not give up any territory.
Podolyak defined the Russian invasion as a “Syrian or Afghan type of war” as Russian forces target civilians and major cities.
White House weighs in on Xi Call (19:58)
Biden warned Xi of “implications and consequences” if China were to support Russia’s invasion of Ukraine in a video conference on Friday, the White House said.
“The president underlined his support for a diplomatic solution to the crisis,” the White House said. “The two leaders also agreed on the importance of maintaining open lines of communication to control competition between our two countries.”
EU discusses new fund to help Ukraine finance defense (7:30 p.m.)
European Council President Charles Michel said he has discussed with Ukrainian President Volodymyr Zelenskiy the idea of establishing an international fund to assist the country in providing services during the invasion by Russia.
The Ukraine Solidarity Fund, which would be paid for by international donors, would help Ukraine with immediate defense efforts and basic services, as well as the country’s eventual reconstruction. EU leaders will discuss the fund proposal when they meet in Brussels next week.
IAEA says repairs to nuclear power plant power line have begun (6:33 p.m.)
Ukrainian engineers have begun repairing one of the three disconnected power lines connecting the Zaporizhzhya nuclear power plant and expect it to be operational again early next week, International Atomic Energy Agency (IAEA) director-general Rafael Mariano said. Grossi, in a statement, citing the Ukrainian regulator.
Xi Laments War, criticizes sanctions in talks with Biden (5:50 p.m.)
Xi told Biden that China did not want to see a war in Ukraine, according to summaries released by the Chinese side, noting that “the prevailing trend of peace and development faces serious challenges” and “the world is neither calm nor stable.” .”
But he criticized Western sanctions against Russia, saying that ordinary people will suffer and that further escalation “will also cause a serious crisis in world trade and economy, finance, energy, food, industrial supply chain.”
Ukraine says 222 people have been killed in Kiev since the start of the war (5:15 p.m.)
Since Russia launched its invasion on Feb. 24, 222 people have been killed in Ukraine’s capital, including 60 civilians, including four children, Deputy Mayor Mykola Povroznyk said.
Victims in Kiev also included 889 injured, including 241 civilians, 18 of whom were children.
Fifty-five buildings in the city – including 36 residential buildings, five private houses and 11 schools and kindergartens – suffered damage from shelling.
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