Ukraine ,Mar 16,2022: Ukrainian President Volodymyr Zelenskiy said on Wednesday peace talks were sounding more realistic but more time was needed, as Russian air strikes killed five people in the capital Kyiv and the refugee tally from Moscow’s invasion reached 3 million.
Moscow has not captured any of Ukraine’s 10 biggest cities following its incursion that began on Feb. 24, the largest assault on a European state since 1945.
Ukrainian officials have raised hopes the war could end sooner than expected, possibly by May, saying Moscow may be coming to terms with its failure to impose a new government by force and running out of fresh troops.
“The meetings continue, and, I am informed, the positions during the negotiations already sound more realistic. But time is still needed for the decisions to be in the interests of Ukraine,” Zelenskiy said in a video address ahead of the next round of talks.
ECONOMIC FALLOUT
The conflict has brought economic isolation upon Russia and the economic cost was fully exposed on Wednesday as its sanctions-ravaged government teetered on the brink of its first international debt default since the Bolshevik revolution.
Moscow was due to pay $117 million in interest on two dollar-denominated sovereign bonds it had sold back in 2013, but it faces limits on making payments and has talked of paying in roubles, which would trigger a default.
The crisis is also being felt in the form of spiralling energy costs in many Western countries with some heavily reliant on exports from Russia and after a U.S. ban on imports of oil from the country.
The United States, the European Union and Britain announced further sanctions on Tuesday, while Moscow retaliated by putting Biden and other U.S. officials on a “stop list” that bars them from entering Russia.
The latest EU sanctions include bans on energy sector investments, luxury goods exports to Moscow, and imports of steel products from Russia.
They also freeze the assets of more business leaders believed to support the Russian state, including Chelsea football club owner Roman Abramovich.
