Peace negotiations and hundreds of thousands are fleeing

refugees at the border

Many want to leave the war zone.

(Photo: imago images/Le Pictorium)

new York The Ukrainian President had already lowered his expectations significantly in advance: what is the point of peace talks with the Russians if fighting is raging in large parts of the country and Kremlin chief Vladimir Putin is threatening to put his own nuclear forces on alert?

Nevertheless, according to Volodymyr Zelensky, nobody should be able to accuse him of not having made every attempt to find a peaceful solution. His conclusion: “I do not believe in a result of this meeting, but let’s try.”

And so, on Monday afternoon, two delegations from Russia and Ukraine began peace talks on the Ukrainian-Belarusian border. Belarusian Foreign Minister Vladimir Makej opened the talks, the Belarusian state media reported and published videos. Zelensky’s office had previously said the talks were aimed at an immediate ceasefire and the withdrawal of Russian troops from Ukraine.

At the same time, Selenski reaffirmed his ties to the West and called for his country to join the EU in an urgent procedure. Ukraine must be quickly accepted by the European Union as part of a special procedure, says the President in a recent video speech. “Our goal is to be with all Europeans and, most importantly, to be equal. I’m sure that’s fair. I’m sure we deserve it.”

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With this demand, Selenski is increasingly being listened to by the EU Commission President. Ursula von der Leyen, for example, when asked by a Euronews reporter about the country’s inclusion in the community, said: “Over time, they actually belong to us. They are one of us and we want them in.”

Ukrainian President

Volodymyr Zelensky wants to lead his country into the EU.

(Photo: dpa)

This Monday will also make it clear that the financial sanctions that the West has imposed on Russia will not fizzle out. The Russian Central Bank and the Ministry of Finance had to react with drastic measures: Among other things, they doubled the key interest rate and limited trade in the Russian currency ruble. The Moscow Stock Exchange is even closed.

Rubles in free fall

The ruble temporarily lost around 30 percent in value on Monday, and at noon it was still 14 percent compared to the rate on Friday evening.

The currency watchdogs increased the key interest rate from 9.5 to 20 percent, as they announced in Moscow on Monday. At the same time, they signaled their readiness for further increases. The Belarusian central bank also raised the key interest rate from 9.25 to 12.0 percent.

The higher interest rates are intended to counteract the risk of the devaluation of the ruble and the risk of inflation. “This makes it possible to keep prices and finances stable and to protect citizens’ deposits from devaluation,” the regulator justified the step.

>> Read about this: Panic on bonds, ruble in free fall: Russian central bank doubles key interest rate to 20 percent

Dax down, arms manufacturers up

The situation in Ukraine is also affecting Europe’s stock exchanges. The Dax lost 2.4 percent on Monday to 14,221 points, the Euro Stoxx 50 fell by three percent to 3,850 points. The futures on the US indices each gave way about one percent.

At the same time, the prospect of western rearmament helped domestic arms manufacturers to record price jumps. Rheinmetall recorded an increase of almost 50 percent. At 160 euros, the shares in the manufacturer of the “Leopard 2” tank were at times higher than ever. The titles of the defense electronics provider Hensoldt rose by almost 90 percent and those of its major shareholder Leonardo by around 18 percent.

In London, BAE Systems shares gained almost 16 percent to a record high of 756 pence, heading for their biggest one-day gain in 35 years. In Paris, Thales shares rose about 16 percent.

>> Read about this: Minus 300 points: Dax slips again – sell-off in index funds on Russian stocks

help for refugees

Meanwhile, more and more people are trying to leave the war zone – or have already left it. More than half a million people are said to have fled the country as a result of the Russian invasion of Ukraine. This was announced by the United Nations refugee agency (UNHCR) on Monday. The head of the refugee agency, Filippo Grandi, published the number on Twitter and said the people had fled to neighboring countries.

The European Union is preparing to grant war refugees from Ukraine the right to stay for up to three years. “It is our duty to take in those who are fleeing the war,” French interior minister Gerald Darmanin told France 2 television on Monday. EU interior ministers will meet again on Thursday to agree on the details.

This concerns the EU directive on granting temporary protection, which was drawn up after the war in the Balkans in the 1990s but has not yet been applied.

It provides the same level of protection in all EU countries for a period of up to three years, including a residence permit, access to employment, social assistance and medical care.

>> Read about this: Dramatic scenes at the border: tens of thousands of Ukrainians flee from Putin’s troops to Poland

Turnaround in the energy transition?

Government spokesman Steffen Hebestreit reacted cautiously to the debate about extending the service life of the last three nuclear reactors. It goes without saying that due to the current situation, many things are being questioned and examined, he said on Monday. “We’re still a long way from that,” he emphasized at the same time.

We will prepare for all eventualities and work to ensure that these do not occur. Federal Economics Minister Robert Habeck (Greens) had not previously ruled out an extension, but was skeptical about it.

>> Read about this: Will the war in Ukraine bring about a change in the energy transition?

Daimler Truck cuts connection to Russia

The world’s largest truck manufacturer Daimler Truck has suspended all business activities in Russia for the time being because of the Ukraine war. “As a company, we stand for peaceful global cooperation and categorically reject any form of military force,” said a spokesman for the company in Stuttgart. Previously, the Handelsblatt reported that Daimler Truck had stopped its cooperation with the Russian armored car manufacturer Kamaz.

According to Daimler Truck, it has been cooperating with the Russian truck manufacturer Kamaz since 2012, which it supplies with parts for civilian vehicles. These deliveries have now been discontinued. “We have never had anything to do with Kamaz military vehicles,” said Stuttgart.

>> Read about this: Daimler Truck stops cooperation with Russian armored car manufacturer Kamaz

Schalke separates from Gazprom

Second division soccer team FC Schalke 04 is parting ways with its controversial main sponsor Gazprom prematurely in the wake of the Russian invasion of Ukraine. The board of directors decided this with the approval of the supervisory board, the Gelsenkirchener announced on Monday. This means a hard cut for Schalke. The Russian state-owned company, one of Germany’s largest gas suppliers, has so far been the most important financier of the traditional club, which is burdened with around 200 million euros in liabilities. The contract actually runs until 2025.

However, Schalke assured in the statement: “The full financial ability of the club to act remains unaffected by this decision. The club management is confident of being able to present a new partner in the near future.”

This is how the Handelsblatt reports on the developments in the Ukraine war:

With agency material

More: “A Swift exclusion that hits the right people” – Europe agrees on next sanctions against Russia

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