Ukraine Update 8 March, 2022 (AM)

  • Amid growing pressure both at home and abroad, the Biden administration will announce a ban on Russian oil imports to the United States this morning. The move is intended to hold Russia accountable for its invasion of Ukraine, which is now entering its thirteenth day. The ban is not expected to have too great of an impact on US oil imports, certainly not to the level a ban by European nations would bring about.
  • The humanitarian corridor and attached ceasefire in Ukraine’s Sumy region appears to be holding at present. Evacuations of civilians from Sumy to Poltava have started and remain underway. In a related development, the Ukrainian government has also confirmed that evacuations from Irpin, a town located near Kiev are now underway. Efforts to evacuate civilians from Mariupol are meeting with considerably less success.
  • Japan has announced a new batch of sanctions aimed at Russia and Belarus. The assets of nearly three dozen Russian and Belarusian officials, business executives with close connections to the governments and oligarchs have been frozen. Exports of Russia-bound oil refinery equipment and Belarus-bound general-purpose items that could be used by its military will also be banned.

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