German Economy and Climate Minister Robert Habeck speaks during an extraordinary session, after Russia launched a massive military operation against Ukraine, at the lower house of parliament Bundestag in Berlin, Germany, February 27, 2022. REUTERS/Michele Tantussi
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March 20 (Reuters) – Germany and Qatar are negotiating a long-term energy partnership, government officials from both sides said Sunday, as Europe’s biggest economy seeks to become less dependent on Russian energy sources.
Germany said a partnership had been clinched, but Qatar stopped short of saying a deal had been finalised.
Russia is the largest supplier of gas to Germany, and German Economy Minister Robert Habeck has launched several initiatives to lessen his country’s energy dependence on Russia since it invaded its neighbour Ukraine.
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Qatar’s Emir Sheikh Tamim bin Hamad al-Thani received Habeck on Sunday and the two discussed ways to enhance bilateral relations, particularly in the energy sector, the Emiri court said in a statement on Sunday.
Qatar said companies from both countries “would re-engage and progress discussions on long term LNG supplies,” according to a statement by QatarEnergy, the state-owned oil and gas firm.
A spokesperson for the German economics ministry in Berlin confirmed that a deal had been finalised.
“The companies that have come to Qatar with (Habeck) will now enter into contract negotiations with the Qatari side,” the spokesperson said.
In a statement, Qatar said that for years it had sought to supply Germany but discussions never led to concrete agreements.
Germany has recently announced plans to build two LNG terminals. With no terminals currently, Germany cannot receive direct shipments of LNG from Qatar.
Habeck also met Qatari Minister of State for Energy Affairs Saad Sherida Al-Kaabi in Doha, where they discussed energy relations and cooperation between Qatar, one of the world’s top natural gas exporters, and Germany and ways to enhance them, according to a statement from Al-Kaabi.
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Reporting by Moataz Mohamed, Andrew Mills and Klaus Lauer; Writing by Shakeel Ahmad, Moataz Mohamed, Tom Sims and Andrew Mills; Editing by David Clarke, Frances Kerry and Hugh Lawson
Our Standards: The Thomson Reuters Trust Principles.
LONDON, March 20 (Reuters) – A senior naval commander in Russia’s Black Sea Fleet has been killed in Ukraine, the governor of Sevastopol said on Sunday.
Post-Captain Andrei Paliy, deputy commander of the fleet, died during fighting in the eastern Ukrainian port city of Mariupol, Governor Mikhail Razvozhayev said on the messaging app Telegram.
The Russian navy did not respond to a request for comment.
Sevastopol, which is a major base of Russia’s Black Sea Fleet, is located on the Crimean peninsula, which Moscow annexed from Ukraine in 2014.
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Reporting by Guy Faulconbridge; Editing by Gareth Jones
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U.S. Ambassador to the U.N. Linda Thomas-Greenfield speaks during a meeting of the United Nations Security Council on Threats to International Peace and Security, following Russia’s invasion of Ukraine, in New York City, U.S., March 7, 2022. REUTERS/Carlo Allegri/File Photo
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WASHINGTON, March 20 (Reuters) – Accounts that thousands of residents of Ukraine’s besieged port city of Mariupol have been forcibly deported to Russia are “disturbing” and “unconscionable” if true, U.S. ambassador to the United Nations Linda Thomas-Greenfield said on Sunday.
Speaking on CNN’s “State of the Union,” Thomas-Greenfield said the United States had not yet confirmed the allegations made on Saturday by the Mariupol city council via its Telegram channel. read more
“I’ve only heard it. I can’t confirm it,” she said. “But I can say it is disturbing. It is unconscionable for Russia to force Ukrainian citizens into Russia and put them in what will basically be concentration and prisoner camps.”
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Russia launched a large-scale invasion of Ukraine on Feb. 24, igniting a conflict that has led to more than 900 civilian deaths and nearly 1,500 injuries as of March 19, according to the U.N. human rights office. read more
Mariupol, a key connection to the Black Sea, has been a target since the start of the war, which Russian President Vladimir Putin calls a “special military operation” to demilitarize and “denazify” Ukraine. Ukraine and the West say Putin launched an unprovoked war of aggression.
The Mariupol city council also said Russian forces bombed an art school on Saturday in which 400 residents had taken shelter, but the number of casualties was not yet known. read more
Reuters could not independently verify the reports by the city council. The Russian Embassy in Washington did not respond to a request for comment, but Russia denies targeting civilians.
Ukrainian President Volodymyr Zelenskiy called on Saturday for comprehensive peace talks with Moscow. read more
The United States supports those attempts, Thomas-Greenfield said on Sunday, adding that the negotiations “seem to be one-sided,” with little response from Russia.
The North Atlantic Treaty Organization (NATO) will hold an emergency meeting on Thursday to discuss the conflict and the response of the 30-member alliance. read more
Poland will formally submit a proposal for a peace-keeping mission in Ukraine at the meeting, Polish Prime Minister Mateusz Morawiecki said last week. read more
When asked about the Polish proposal, Thomas-Greenfield reiterated President Joe Biden’s commitment to refrain from sending U.S. troops into Ukraine.
“Other NATO countries may decide that they want to put troops inside of Ukraine,” she said. “That will be a decision that they have to make.”
‘TRYING TO DO EVERYTHING WE CAN’
Estonian Prime Minister Kaja Kallas, speaking on CNN later on Sunday, said she would press NATO to strengthen its military capabilities in Eastern Europe and urge all member countries to devote at least 2% of their gross domestic product to defense.
Kallas said the allegations of Ukrainians deported to Russia were reminiscent of thousands of Estonians sent to Siberian labor camps in the 1940s.
“Right now we are in a different position, because we are NATO allies,” she said. “But we are trying to do everything we can to support and help Ukraine to fight this war.”
Turkey is also attempting to mediate a ceasefire in Ukraine, which NATO Secretary General Jens Stoltenberg praised during an interview on Sunday on NBC’s “Meet the Press.”
“Turkey is doing some real effort to try to facilitate, support talks between Russia and Ukraine,” Stoltenberg said. “It’s far too early to say whether these talks can lead to any concrete outcome.”
Earlier this month, NATO rejected Ukrainian calls to set up a “no-fly zone” over Ukraine to help it protect its skies from Russian missiles and warplanes. read more
When asked on Sunday whether a no-fly zone would be considered if Russia used chemical weapons in Ukraine, Stoltenberg raised concerns that such a step could escalate the conflict.
“Our allies support Ukraine,” he said. “But at the same time it is extremely important we prevent this conflict from becoming a full-fledged war between NATO and Russia that will cause much more damage, much more death, destruction than what we are seeing now in Ukraine.”
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Reporting by Ted Hesson and Richard Cowan in Washington; Editing by Scott Malone and Bill Berkrot
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Chinese Foreign Minister Wang Yi poses for a picture prior to meeting U.S. Secretary of State Antony Blinken on the sidelines of the G20 summit in Rome, Italy October 31, 2021. Tiziana Fabi/Pool via REUTERS
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SHANGHAI, March 20 (Reuters) – China stands on the right side of history over the Ukraine crisis as time will tell, and its position is in line with the wishes of most countries, Chinese Foreign Minister Wang Yi said.
“China will never accept any external coercion or pressure, and opposes any unfounded accusations and suspicions against China,” Wang told reporters on Saturday evening, according to a statement published by his ministry on Sunday.
Wang’s comments came after U.S. President Joe Biden warned his Chinese counterpart, Xi Jinping, on Friday of “consequences” if Beijing gave material support to Russia’s invasion of Ukraine. read more
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During the video call, Xi told Biden the war in Ukraine must end as soon as possible and called on NATO nations to hold a dialogue with Moscow. He did not, however, assign blame to Russia, according to Beijing’s statements about the call.
Wang said the most important message Xi sent was that China has always been a force for maintaining world peace.
“We have always stood for maintaining peace and opposing war,” Wang said, reiterating that China will make independent judgements.
“China’s position is objective and fair, and is in line with the wishes of most countries. Time will prove that China’s claims are on the right side of history.”
Also on Saturday, Vice Foreign Minister Le Yucheng said that sanctions imposed by Western nations on Russia over Ukraine were increasingly “outrageous”. read more
The United States and its European and Asian allies have imposed sweeping sanctions on Russia for the Feb. 24 invasion of its neighbour, which they call a war of aggression by President Vladimir Putin. He says he launched a “special operation” to demilitarise and “denazify” Ukraine.
While saying it recognises Ukraine’s sovereignty, Beijing has repeatedly said that Russia has legitimate security concerns that should be addressed and urged a diplomatic solution to the conflict.
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Reporting by Shanghai and Beijing Newsroom; Editing by William Mallard
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BELIZE CITY, March 19 (Reuters) – Britain’s Prince William and his wife Kate arrived in Belize on Saturday for a weeklong Caribbean tour that was marred by a local protest before it even began amid growing scrutiny of the British Empire’s colonial ties to the region.
The arrival of the Duke and Duchess of Cambridge coincides with the celebration of Queen Elizabeth’s 70th year on the throne, and comes nearly four months after Barbados voted to become a republic, cutting ties with the monarchy but remaining part of the British-led Commonwealth of Nations.
Three miniature cannons fired a salute to the couple as their plane landed in Belize City before a military band played the national anthems of Belize and Britain at a welcoming ceremony that kept the media throng at a distance.
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William inspected a guard of honor as the band played local creole song “Ding Ding Wala,” then drove off with his wife to meet Prime Minister John Briceno.
Afterwards, Briceno told Reuters the duke and duchess were “excited to be here in Belize as we are delighted to have them,” adding: “We wish them a fruitful and memorable visit.”
The couple are due to stay in Belize, formerly British Honduras, until Tuesday morning. On the eve of their departure, an event planned for Sunday was scrapped when a few dozen villagers staged a protest.
Residents of Indian Creek, an indigenous Maya village in southern Belize, said they were upset that the royal couple’s helicopter had been granted permission to land on a local soccer field without prior consultation. read more
The village is in a land dispute with Fauna & Flora International (FFI), a conservation group supported by the royal family, stirring discontent over colonial-era territorial settlements still contested by indigenous groups.
A visit to a different site is being planned instead, Belize’s government said. In a statement, Kensington Palace confirmed the schedule would be changed because of “sensitive issues” involving the Indian Creek community.
In a statement, FFI said it had purchased land at the nearby Boden Creek from private owners in December 2021, and that it would conserve and protect the area’s wildlife while supporting the livelihoods and traditional rights of local people.
Without directly addressing the dispute, FFI said it bought the land to benefit the area’s ecological integrity, resident communities and Belize as a whole, and pledged to maintain “open and continuous dialogue” with the local community.
After Belize, the duke and duchess are due to visit Jamaica and the Bahamas. Meetings and a variety of events are scheduled with politicians and a range of civic leaders.
Dickie Arbiter, Queen Elizabeth’s press secretary from 1988 to 2000, described the tour as a goodwill visit that ought to give a temporary lift to the family’s popularity.
Today, many people in former colonies see the monarchy as an anachronism that should be let go, he said. But he expected that little would change while Elizabeth remained on the throne.
“The royal family is pragmatic,” he said. “It knows it can’t look at these countries as realm states forever and a day.”
POPULAR OPINION
Debates over colonial-era oppression, including possible reparations for the descendants of slaves in Jamaica, could push more countries to emulate Barbados’ recent move. read more
Carolyn Cooper, a professor emerita at the University of the West Indies, said the royal couple’s visit was unlikely to discourage Jamaica from opting for republic status.
“I think there is a groundswell of popular opinion against the monarchy,” she said.
Some in Belize, which gained independence from Britain only in 1981, speak warmly about remaining in the fold.
“I believe it’s a wonderful opportunity for them to appreciate the country’s multiculturalism, natural attractions, and to enjoy our culinary practices,” said Joseline Ramirez, a manager in the Cayo district of western Belize.
Others are less enthusiastic.
Alan Mckoy, a mechanic in Belize City, said he “couldn’t care less” about the royal family.
“They are no better than any of us,” he said.
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Reporting by Jose Sanchez in Belize City
Additional reporting by Dave Graham, Kate Chappell and Cassandra Garrison
Editing by David Alire Garcia, Edmund Klamann, Frances Kerry, Diane Craft and Jonathan Oatis
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TIJUANA, Mexico, March 19 (Reuters) – Russians trying to enter the United States at the Mexican border are frustrated they are not getting in like Ukrainians are, despite leaving their homeland over the invasion of Ukraine.
U.S. officials have let dozens of Ukrainians through this week but Russians remain in limbo, prompting some to camp on the pavement alongside a barbed wire border fence, defying warnings from Mexican authorities to leave.
Irina Zolkina, a math teacher who left Moscow with her four children and her daughter’s boyfriend, burst into tears when a U.S. border agent on Thursday took one look at her stack of Russian passports and shook his head, saying they would have to wait – soon after officials ushered in six Ukrainian men.
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“There are so many years of fear that we’re living in … it’s awful inside Russia too,” she told Reuters in the Mexican border city of Tijuana opposite San Diego, California.
Zolkina showed Reuters a BBC video of her arrest for attending an anti-war protest on Feb. 24, the day Russia invaded Ukraine in what the Kremlin calls a “special military operation” that Western allies have denounced.
She was released a few hours later and left Russia with her children the following week, she said, passing through Tashkent and Istanbul before reaching the Mexican beach resort of Cancun – a common jumping-off point for Russians heading to the U.S. border.
Over 3 million Ukrainians have become refugees, according to the United Nations, most of them in countries bordering Ukraine. Thousands of Russians have also left their country, according to media reports.
Some Ukrainians crossing in Tijuana have been granted permission to stay in the United States for a year. read more
When asked on Thursday about Ukrainians and Russians at the border, U.S. Homeland Security Secretary Alejandro Mayorkas said the government was helping people fleeing Ukraine, and that other programs were being considered to expand humanitarian aid.
The U.S.-Mexico border has been closed to most asylum seekers under a coronavirus pandemic policy. read more
A Department of Homeland Security spokesperson, asked about current policy towards Russians, said the agency makes exceptions to the order on a case-by-case basis for “particularly vulnerable individuals.”
‘UNFAIR’
A couple of dozen other Russians have for several days wrapped themselves in thick blankets to sleep feet from the border wall, hoping U.S. officials will hear their pleas for protection.
A Russian couple embrace as they wait for a humanitarian visa at the San Ysidro Port of Entry of the U.S.-Mexico border in Tijuana, Mexico March 15, 2022. Picture taken March 15, 2022. REUTERS/Jorge Duenes/File Photo
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“It’s unfair that we can’t get in,” said Mark, 32, a restaurant manager who came from Moscow with his wife, flying to Mexico via Turkey and Germany in early March.
Both were arrested for three days last year after protesting in support of jailed opposition leader Alexei Navalny, said Mark, who asked to withhold his last name. He said going back to Russia was not an option after new legislation that imposes up to 15 years in jail for actions found to discredit Russia’s army.
“This is our decision to be here and wait on the floor,” Mark said, seated on a blanket while watching hundreds of tourists and U.S. citizens enter San Diego. “If we leave this place, everyone will forget about this problem immediately.”
Between October 2021 and January, U.S. government data showed border officials encountered about 6,400 Russians, some of whom said they were dissidents and are now in the United States. read more The Russian Embassy said in a statement then that it had contacted U.S. authorities about those citizens.
In Tijuana last week, Mexican officials handed out flyers in Russian listing nearby migrant shelters and a letter saying Russians can request asylum but should not camp at the busy border.
Staying there ran “the risk of the United States deciding to close the crossing for internal security reasons,” said the letter signed by Tijuana migration director Enrique Lucero.
Mexico’s migration institute did not respond to a request for comment.
For now, the Russians are staying put.
Mikhail Shliachkov, 35, seated on a cot under a parasol to take cover from the glaring sun, said he resolved to go to Mexico with his wife the day after the invasion, fearing he would be called up to fight close relatives in Ukraine.
“I don’t want to kill my brothers, you know?” he said, showing a photo of his birth certificate that states his mother was born in Ukraine.
As the Russians wait, U.S. border officials have also turned away asylum seekers from Nigeria, Colombia, Honduras and Mexico, sparking complaints of unfair treatment.
“There’s an element of racism by U.S. authorities,” said Kevin Salgado, 19, a Mexican from the violent state of Michoacan, where he said his father and 16-year-old brother, both members of a community police, were killed.
“Why are they letting the Ukrainians pass? … Can someone explain to us?”
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Reporting by Daina Beth Solomon; additional reporting by Dave Graham and Ted Hesson; editing by Grant McCool
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Russian cosmonauts Oleg Artemyev, Denis Matveev and Sergey Korsakov arrive wearing yellow and blue flight suits at the International Space Station after docking their Soyuz capsule March 18, 2022 i a still image from video. Video taken March 18, 2022. NASA TV/Handout via REUTERS.
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March 19 (Reuters) – Russia’s space agency on Saturday dismissed Western media reports suggesting Russian cosmonauts joining the International Space Station (ISS) had chosen to wear yellow suits with a blue trim in support of Ukraine. read more
“Sometimes yellow is just yellow,” Roscosmos’ press service said on its Telegram channel.
“The flight suits of the new crew are made in the colours of the emblem of the Bauman Moscow State Technical University, which all three cosmonauts graduated from … To see the Ukrainian flag everywhere and in everything is crazy.”
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Roscosmos Director-General Dmitry Rogozin was more acerbic, saying on his personal Telegram channel that Russian cosmonauts had no sympathy for Ukrainian nationalists.
In a live-streamed news conference from the ISS on Friday, veteran cosmonaut Oleg Artemyev, the mission commander, was asked about the suits.
“Every crew picks a colour that looks different. It was our turn to pick a colour,” he said. “The truth is, we had accumulated a lot of yellow fabric, so we needed to use it up. That’s why we had to wear yellow flight suits.”
Russia invaded Ukraine, which has a blue and yellow flag, on Feb. 24. The ensuing fighting has killed thousands of people, devastated parts of cities and caused millions of Ukrainians to flee their homes, according to the United Nations.
Rogozin has suggested that U.S. sanctions imposed in response to the invasion could destroy ISS teamwork and lead to the space station falling out of orbit.
Officials at the U.S. space agency, NASA, have said U.S. and Russian crew members are aware of events on Earth but that their work has not been affected by geopolitical tensions.
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Writing by Kevin Liffey
Editing by Helen Popper
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Halliburton’s booth is seen at the World Petroleum Congress, in Houston, Texas, U.S. December 6, 2021. REUTERS/Sabrina Valle
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March 18 (Reuters) – U.S. oilfield services companies Halliburton Co (HAL.N)and Schlumberger said on Friday they havesuspended or halted Russia operations in response to U.S. sanctions over Moscow’s invasion of Ukraine.
The disclosures followed widespread departures by energy, retail and consumer goods businesses and a series of European Union and U.S. bans on providing oil technology to Russia or importing its energy products.
Halliburton said it immediately suspended future business and would wind down its operations in Russia after earlier ending shipments of sanctioned parts and products to the country.
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Schlumberger has ceased new investment and technology deployment while continuing with existing activity in compliance with international laws and sanctions, the company said in a statement late on Friday.
“We urge a cessation of the conflict and a restoration of safety and security in the region,” Schlumberger Chief Executive Olivier Le Peuch said.
Oilfield services provider Baker Hughes declined to comment on its Russia operations.
Energy companies BP PLC , Shell , Equinor ASA (EQNR.OL)and Exxon Mobil have suspended business or announced plans to exit their Russia operations.
Russia, which calls its invasion of Ukraine a “special military operation”, is among the world’s largest oil and gas producers and exports 7 million to 8 million barrels per day of crude and oil products.
Its energy operations rely largely on home-grown service providers.
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Reporting by Chavi Mehta in Bengaluru, additional reporting by Gary McWilliams and Liz Hampton; Editing by Arun Koyyur
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Ukraine’s Zelenskiy calls for comprehensive peace talks
Ukraine says loses access to Sea of Azov
U.S. oil services companies suspend or halt Russia operations
Biden warns China’s Xi against helping Russia
KYIV/LVIV, Ukraine, March 19 (Reuters) – Ukrainian President Volodymyr Zelenskiy called on Saturday for comprehensive peace talks with Moscow to stop its invasion of his homeland, warning it would otherwise take Russia “several generations” to recover from losses suffered in the war.
Since launching the assault on Feb. 24, Russian troops facing tough resistance have largely stalled in their advance, even as they encroach on the capital Kyiv. Looking to regain momentum, they have laid siege to cities and blasted urban areas to rubble.
Air raid sirens sounded early on Saturday in the Kyiv, Chernihiv and Zhytomyr regions, but there were no immediate reports of fresh attacks.
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Unprecedented Western sanctions aimed at isolating Russia’s economy have done little to halt what President Vladimir Putin calls a “special operation” to reduce its neighbour’s military capabilities and “denazify” its government.
After Russia said it was “tightening the noose” around the key port of Mariupol, Ukraine’s defence ministry acknowledged on Friday it had “temporarily” lost access to the Azov Sea, which connects to the Black Sea and would be a major loss for Ukraine.
But Western officials say Russia has taken heavy losses with signs of flagging morale among its troops, a trend Zelenskiy alluded to in a video message in which he urged renewed negotiations to end the war.
“I want everyone to hear me now, especially in Moscow. The time has come for a meeting, it is time to talk,” he said early on Saturday. “The time has come to restore territorial integrity and justice for Ukraine. Otherwise, Russia’s losses will be such that it will take you several generations to recover.”
Russia acknowledged on March 2 that nearly 500 of its soldiers had been killed but has given no update since. Ukraine says the number now amounts to many thousands. Reuters could not independently verify the death count.
Kyiv and Moscow reported some progress in talks this week towards a political formula that would guarantee Ukraine security protection outside of the NATO alliance.
But Ukraine said the need for an immediate ceasefire and withdrawal of Russian troops remained, and each side accused the other of dragging out the talks. read more
Putin has vowed to continue the invasion until it succeeds, promising tens of thousands of people waving Russian flags at a soccer stadium in Moscow on Friday that Russia “will absolutely accomplish all of our plans.” read more
The United States has repeatedly warned that Russia may turn for assistance to China, the biggest power that has not condemned the assault.
In a video call on Friday, President Joe Biden told China’s President Xi Jinping there would be “consequences” if Beijing provides “material support” to Russia in Ukraine, the White House said. It said sanctioning Beijing was an option. read more
China and Russia deny Beijing is considering giving Moscow military aid. China says it wants to see an end to the conflict.
FLEEING FOR COVER
U.S. oilfield services companies Halliburton Co (HAL.N) and Schlumberger (SLB.N) said on Friday they have suspended or halted Russia operations in response to U.S. sanctions over Moscow’s invasion. read more
Russia, among the world’s largest oil and gas producers, exports 7 million to 8 million barrels per day of crude and oil products. BP PLC , Shell , Equinor ASA (EQNR.OL) and Exxon Mobil have suspended business or announced plans to exit their Russia operations.
In the fourth week of their land, sea and air assault, Russian forces have not captured any big cities and Ukraine’s elected government remains defiant in the capital.
Fleeing bombardment that Ukraine says has struck housing blocks, schools, hospitals and cultural facilities, hundreds of thousands of Ukrainians had left for of Lviv in western Ukraine, far from the frontline in the country’s east.
Three missiles landed at an airport near Lviv on Friday, raising fears the city could come under a deeper assault.
Civilians sheltering in eastern Ukrainian cities have had to endure cuts to electricity, heating and water, with food and other vital resources increasingly scarce. More than 3 million refugees have fled over Ukraine’s western border.
Some of the heaviest fighting has been in Mariupol, where some 400,000 people have been trapped for over two weeks. Officials there say fighting has reached the city centre and that near-constant shelling was preventing humanitarian aid from getting in.
Rescue workers were still searching for survivors of a Mariupol theatre flattened by Russian air strikes on Wednesday. Russia denies hitting the theatre. read more
In his video address, Zelenskiy said there was no information about how many people had died in the theatre, where hundreds had been sheltering. More than 130 people had been rescued, he said.
As people continue trying to flee through “humanitarian corridors” arranged by Ukrainian and Russian officials, the World Food Programme has warned that food supply chains in the country are collapsing.
Key infrastructure such as bridges and trains have been destroyed by bombs and many grocery stores and warehouses are empty, said Jacob Kern, WFP emergency coordinator for the Ukraine crisis.
“Inside Ukraine our job is in effect to replace the broken commercial food supply chains,” he said, calling this a “mammoth task”. read more
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Reporting by Reuters bureaus; Writing by Rami Ayyub and Raju Gopalakrishnan; Editing by William Mallard
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FILE PHOTO – Monitors displaying the stock index prices and Japanese yen exchange rate against the U.S. dollar are seen after the New Year ceremony marking the opening of trading in 2022 at the Tokyo Stock Exchange (TSE), amid the coronavirus disease (COVID-19) pandemic, in Tokyo, Japan January 4, 2022. REUTERS/Issei Kato
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Oil over $100 and extending gains
Rate cut hopes keep China shares bid
Biden-Xi phone call due at 1300 GMT
SINGAPORE, March 18 (Reuters) – Stockmarkets took a breather on Friday after several days of sizeable gains, as geo-political tensions arising from the Ukraine conflict kept investors on guard going into the weekend.
After a fourth straight day of talks between Russian and Ukrainian negotiators without tangible progress, earlier hopes for a peace deal have begun to wane and oil prices have begun climbing again. read more
Adding to the mix, U.S. President Joe Biden is expected to deliver a warning that Beijing will pay a price if it supports Russia’s war effort when he speaks to China’s President Xi Jinping in a call scheduled for 1300 GMT. read more
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MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was flat and Hong Kong’s Hang Seng steadied following a furious two-day surge. Japan’s Nikkei (.N225) rose 0.6%. S&P 500 futures eased 0.4% while Euro STOXX 50 futures and FTSE futures were flat.
Oil, which had crumbled some 30% from last week’s peak, has bounced hard as traders fret that hope for peace in Ukraine is misplaced. Brent crude futures were last up 2% and at $108.64, have added more than $10 a barrel in two sessions.
“It’s very difficult to get any confidence that you’re going to be able to reliably source commodities out of Russia or Ukraine,” said Tobin Gorey, a commodities strategist at Commonwealth Bank of Australia in Sydney. “You’re going to be looking elsewhere and that just tends to get priced up.”
Wheat and corn futures, which are sensitive to Black Sea supply disruptions, have bounced sharply.
Australia’s miner-heavy ASX 200 index (.AXJO) logged its best week since February last year and the commodities-sensitive Australian dollar hit a two-week high of $0.7398.
INVERSION
Problems faced by policymakers whose economies are suffering surging inflation and sagging growth were also underscored during a series of central bank meetings this week.
The U.S. Federal Reserve raised rates for the first time in more than three years on Wednesday, and surprised traders with a more hawkish than expected outlook. The Bank of England also hiked but surprised with a dovish outlook that drove a rally in gilts. read more
The Bank of Japan offered no surprises on Friday, leaving policy ultra easy, which has kept heavy pressure on the yen. read more
Japan’s currency hit a six-year low of 119.13 this week and last traded at 118.78 per dollar. “The next multi-session target may well be the 120.00 psychological level,” said Terence Wu, a strategist at OCBC Bank in Singapore.
The euro hovered at $1.1086.
Hong Kong’s Hang Seng (.HSI) followed its worst session in more than six years with its biggest two-day rally since 1998 this week and rate cut hopes kept it bid on Friday.
Treasuries steadied, but a flat yield curve that is flirting with inversion reflected worries about longer-term growth. The benchmark 10-year Treasury yield was last at 2.1780%.
Spot gold hovered at $1,932 and bitcoin was clinging on above $40,000.
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Reporting by Tom Westbrook
Editing by Shri Navaratnam & Simon Cameron-Moore
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