Business Standard

LIVE: Britain sanctions five Russian banks, three individuals

'Any assets they hold in the UK will be frozen and the indivuals concerned will be banned from travelling here,' UK PM said of the individuals being sanctioned

Image BS Web Team New Delhi
Boris Johnson

Boris Johnson

Live news updates: Russian President Vladimir Putin ordered the deployment of troops to two breakaway regions in eastern Ukraine after recognising them as independent on Monday, accelerating a crisis the West fears could unleash a major war.

Putin's announcement drew international condemnation and immediate US sanctions to halt US business activity in the breakaway regions and ban import of all goods from those areas. 

India called for "utmost restraint"” in the, speaking at a extraorindary meeting of the UN Security Council. 

Former Tata Sons Ltd chairman Cyrus Mistry's petition for a review of the Supreme Court's order that last year upheld his removal by the business conglomerate will be heard in an open court on March 9.

Tata Sons had replaced Mr Mistry as Chairman, less than four years after he took charge, in October 2016.


11:34 PM

Dollar dips in choppy trade caused by Ukraine uncertainty

The U.S. dollar was slightly lower against a basket of major currencies on Tuesday in choppy trade, getting whipsawed by developments in Ukraine a day after Russian President Vladimir Putin recognized two breakaway regions in the country and ordered troops to the area.
 
The Kremlin said it remained open to diplomacy with the United States and other countries as it faced actions from a slew of countries. Britain published a list of sanctions and Germany froze the Nord Stream 2 Baltic Sea gas pipeline project, which would have significantly increased the flow of Russian gas.
 
The euro rose versus the dollar, after earlier touching its lowest level since Feb. 14, buoyed in part by the hope for talks and economic data that showed business morale in Germany improved in February across all sectors to its highest since August.
 
The dollar index fell 0.134%, with the euro up 0.21% to $1.1334.
 
10:11 PM

PM Modi to address webinar on water, sanitation on Wednesday

Prime Minister Narendra Modi will address a webinar on Wednesday on the focus of the Union Budget on water and sanitation.
 
Jal Shakti Minister Gajendra Singh Shekhawat and ministers of state for Jal Shakti Prahlad Singh Patel and Bishweswar Tudu along with key stakeholders from WASH, UN agency and technical experts from the domain will also participate in the webinar.
 
After the prime minister's address, eminent people from the water and sanitation sector, private sector representatives and grassroot stakeholders will share their views on budget and impact created by providing safe drinking water in rural homes.
 
Apart from the experts, people from key resource centres, which are empanelled by the Jal Jeevan Mission to train various stakeholders, will provide their suggestions on improving implementation of the mission, an official statement said.
9:43 PM

NCLAT allows Reliance Asset Reconstruction plea to initiate insolvency against Narendra Plastics

The National Company Law Appellate Tribunal on Tuesday set aside an NCLT order that rejected an appeal by Reliance Asset Reconstruction Company Ltd (RARCL) to initiate insolvency proceeding against Narendra Plastics.
 
The NCLAT also directed the NCLT to initiate the insolvency proceedings against the company.
 
A three-member NCLAT bench headed by Chairperson Justice Ashok Bhushan set aside the order passed by the Mumbai bench of the National Company Law Tribunal (NCLT) which on August 13, 2021, rejected RARCL's plea to initiate insolvency proceedings.
 
The NCLT had said the RARCL's plea was barred under limitations as it was filed beyond the prescribed limit of three years after default.
9:15 PM

Global markets tumble after Russia sends in troops

The FTSE 100 index fell by more than 1.5 per cent on Tuesday and European shares hit a seven-month low as a long-feared Russian invasion of Ukraine now appeared to be underway, Daily Mail reported.
 
As Russian President Vladimir Putin ordered forces into separatist regions of eastern Ukraine, the benchmark index of Britain's leading companies dropped by 1.53 per cent or 115 points to 7,370 in early trading in London this morning.
 
Elsewhere in Europe, Germany's DAX fell 2.07 per cent or 311 points to 14,731 this morning, and the CAC 40 in Paris dropped 1.91 per cent or 129 points to 6,659.
9:08 PM

Oil hits highest since 2014 on Russia-Ukraine escalation

Oil rose to its highest since 2014 on Tuesday after Moscow ordered troops into two breakaway regions in eastern Ukraine, adding to supply concerns that are pushing prices towards $100 a barrel.
 
Germany put the certification of the Nord Stream 2 gas pipeline from Russia on ice while the United States and European Union discussed potential sanctions as Ukraine reported continued shelling in east Ukraine.
 
"The potential for a rally over $100 a barrel has received an enormous boost," said Tamas Varga of oil broker PVM. "Those who have bet on such a move anticipated the escalation of the conflict."
 
Brent crude, the global benchmark, was up $1.93, or 2%, at $97.32 by 1448 GMT, having earlier reached its highest since September 2014 at $99.50.
8:52 PM

Assembly polls: EC eases Covid restrictions, allows road shows with prior permission of district authorities

8:19 PM

Karnataka assembly passes bills to hike salary, allowances of CM, ministers and legislators

7:58 PM

BJP has emerged as the third party in Tamil Nadu says, TN BJP president K Annamalai

7:22 PM

DDMA to meet on Feb 25; further Covid relaxations likely

7:08 PM

Covid-19: Kerala registers 5,691 new cases, 10 deaths in last 24 hours

6:46 PM

Covid-19: Madhya Pradesh government lifts all restrictions

6:30 PM

EU plans to quickly finalise new sanctions against Russia

European Union foreign ministers will consider a package of sanctions against Russia on Tuesday with a view to finalising it without delay, the presidents of the European Council and the European Commission said in a statement.
 
They said the package, agreed after Russia formally recognised two breakaway regions of eastern Ukraine, contained proposals:
 
- to target those who were involved in the illegal decision.
 
- to target banks that are financing Russian military and other operations in those territories.
 
- to target the ability of the Russian state and government to access the EU's capital and financial markets and services, to limit the financing of escalatory and aggressive policies.
 
- to target trade from the two breakaway regions to and from the EU, to ensure that those responsible clearly feel the economic consequences of their illegal and aggressive actions.
6:21 PM

Britain sanctions five Russian banks, three individuals

Prime Minister Boris Johnson on Tuesday said Britain would sanction five Russian banks and three high net worth individuals including Gennady Timchenko after Russian President Vladimir Putin recognised two breakaway regions of east Ukraine.
 
"Today, the UK is sanctioning the following five Russian banks: Rossiya, IS Bank, General Bank, Promsvyazbank and the Black Sea Bank, and we're sanctioning three very high net worth individuals," Johnson told parliament.
 
6:15 PM

‘Not an ordinary assembly election, polls to save democracy and change fate of UP’: Akhilesh Yadav

5:54 PM

Section 144 extended by two more 2 days, till Friday morning: Deputy Commissioner, Shivamogga

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Feb 22 2022 | 6:24 AM IST

Explore News