KYIV: Russian President Vladimir Putin said Western sanctions were akin to war as his forces pressed their assault on Ukraine on Sunday for the 11th day and the IMF warned the conflict would have a “severe impact” on the global economy.
Putin said he wanted a neutral Ukraine that had been “demilitarised” and “denazified”, adding: “These sanctions that are being imposed are akin to a declaration of war but thank God it has not come to that.”
Moscow and Kyiv traded blame over failed plans for a brief ceasefire to enable civilians to evacuate two cities besieged by Russian forces. Russia`s invasion has already driven nearly 1.5 million refugees westward into the European Union.
Ukraine`s President Volodymyr Zelenskiy made a “desperate plea” for eastern Europe to provide Russian-made aircraft to his country during a video call with U.S. senators on Saturday, said the chamber`s majority leader, Chuck Schumer.
NATO, which Ukraine wants to join, has resisted Zelenskiy`s appeals to impose a no-fly zone over his country, saying this would escalate the conflict outside Ukraine. But there is strong bipartisan support in the U.S. Congress for providing $10 billion in the emergency military and humanitarian aid to Ukraine.
Ukraine and Western countries have rejected Putin`s arguments as a baseless pretext for invading and have sought to squeeze Russia hard with swift and severe economic sanctions on its banks, oligarchs and others.
Israeli Prime Minister Naftali Bennett met with Putin at the Kremlin on Saturday to discuss the crisis before then speaking to Zelenskiy, Bennett`s spokesperson said. Israel has offered to mediate in the conflict, though officials have downplayed expectations for a breakthrough.
Ukrainian negotiators said the third round of talks with Russia on a ceasefire would go ahead on Monday, although Moscow was less definitive. Two previous rounds were unsuccessful and Zelenskiy has said Russia must first stop the bombing.
“Together we will all rebuild our state,” Zelenskiy told Ukrainians in a televised address Saturday evening. “My confidence in this is reinforced by the energy of our resistance, our protest”.
Russians, reeling from a 30% fall in the rouble`s value in the past 10 days, money transfer curbs and the exit of Western companies from IKEA to Microsoft, expressed fear for their economic future.
The International Monetary Fund said in a statement that the conflict was driving world energy and grain prices higher.
“The ongoing war and associated sanctions will also have a severe impact on the global economy,” it said, adding that it would bring Kyiv`s request for $1.4 billion in emergency financing to its board for approval as early as next week.
Russia`s Foreign Ministry accused Britain of “sanctions hysteria” and vowed tough but proportionate measures against British interests in Russia. Britain plans to tighten its laws to facilitate a crackdown on Russian oligarchs in London.
Bureau Report
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