Business Maverick: Ukraine Update: US, EU to Send More Arms; Yellen Warns China

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President Joe Biden announced $800 million in additional US military aid for Ukraine and the European Union agreed to provide more cash for weapons, as Russia repositions its forces for renewed attacks in eastern and southern parts of its neighbour.

A report by the Organisation for Security and Co-operation in Europe said Russia’s military committed war crimes by targeting civilians, while the mayor of Mariupol said the siege of the city has left more than 20,000 people dead.

The measures come in response to those imposed by the Biden administration on March 24 against delegates of Russia’s Duma. Russia is also imposing counter-measures against senators of Canada’s Parliament.Biden said he is authorising an additional $800 million in weapons, ammunition and other security assistance to Ukraine.

Food prices are now 34% higher than at this time last year, the report found, citing disruptions to agricultural production in Russia and Ukraine – both major producers of staples such as wheat, barley, maize and sunflower oil – as well as pandemic-driven supply chain disruptions. “The world’s attitude towards China and its willingness to embrace further economic integration may well be affected by China’s reaction to our call for resolute action on Russia,” she said. President Xi Jinping’s government has refrained from joining sanctions on Russia, while calling for respect for the principles of sovereignty and territorial integrity.Ukraine’s wheat exports may fall to this season to 18.5 million tons, versus 25.

The Jersey Royal Court imposed a freezing order on the assets, the local government said in a statement on Wednesday. At the same time, police executed a search warrant on premises “suspected to be connected” to him. Abramovich was sanctioned by the EU and the U.K. last month.The leaders of Poland, Latvia, Estonia and Lithuania visited Ukraine, the Polish president’s office said on Twitter.

The report, which focused on the first five weeks of the war, looked into allegations of targeted killings, abductions, bombings and sieges of cities, as well as Russia and Ukraine’s conduct during the hostilities. The acts likely meet the classification of a widespread or systematic attack directed against a civilian population, it said.

 

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