04 Mar 2022

War in Ukraine: What happened this week?

banner-g73c9098c8_1920(896562)

Russia 's invasion of Ukraine has sparked outrage globally and had a significant impact on international trade.

The conflict in Eastern Europe has prompted western countries including the UK to impose tough sanctions against Russian banks, firms and private individuals.

A vigil also took place in Birmingham city centre last Sunday night, with hundreds of people turning out in Victoria Square in solidarity with Ukraine.

Russia 's invasion has also had huge implications on trading conditions, with fuel prices rocketing and the value of the Russian rouble plummeting.

The Chamber has been keeping members up to date with a series of short video Q&As with guest experts addressing topics such as cyber-security and the economic climate.

Here, ChamberlinkDaily provides an update on what has happened over the past week.

Monday 28 February

The first round of Russia-Ukraine talks aimed at ending the fighting concluded with no immediate agreements. The talks took place near the Belarus-Ukraine border as Russian troops continued their attack on Ukrainian cities. Another talk was agreed to, after the two sides 'found certain points on which common positions could be foreseen '.

President Zelensky called for fast-track membership of the EU after signing an official request to join the 27-member bloc.

Tuesday 1 March

The UK issued its first tranche of sanctions against Belarusian military targets who played a role in the invasion. Four senior defence officials and two military enterprises had sanctions imposed with immediate effect. The people sanctioned will be unable to travel to the UK and any of their UK-based assets will be frozen.

Wednesday 2 March

Prime Minister Boris Johnson and President Zelensky agreed sanctions must go further to exert maximum pressure on Russia.

Thursday 3 March

UK announced further sanctions, with Russian companies in the aviation or space industry prevented from making use of UK-based insurance or reinsurance services directly or indirectly.

Meanwhile, Russian and Ukrainian negotiators held their second round of ceasefire talks, agreeing on the need for humanitarian corridors for civilians.

Friday 4 March

Russian troops seized the Zaporizhzhia nuclear power plant, with station personnel continuing to work and monitor the state of the power units.