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Russia-Ukraine War: Latest Update

The president of Ukraine Volodymyr Zelenskyy demanded for more tough sanctions against Russia after the attack of Russian force on the Zaporizhzhia Nuclear power plant and called Russia a nuclear terrorist state. He is worried that this action can result in a nuclear accident and accused Russia that they want to repeat the Chernobyl disaster.

The Zaporizhzhia nuclear power station in Ukraine is the largest nuclear power plant in Europe and accounts for 1/4th of the power generation of Ukraine. The fire broke out in the plant building on the night of 3rd March when the fight between Russian troops and Ukrainian defenders was going on for control of the area. Nuclear monitors stated that there was no change in the radiation levels of the power plant.

There were 6 – Russian-designed reactors in the power plant. Zaporizhzhia nuclear power plant was commissioned two years before the Chernobyl disaster in 1984 and since then the plant is upgraded and expanded. Zaporizhzhia nuclear power plant is situated near the bank of River Dnieper which is about 200 Kilometres from the Black Sea. The reactors of the Zaporizhzhia nuclear power plant are of a safer and different type as compared to the Chernobyl plant (situated 100 kilometers north of Kyiv). “If Zaporizhzhia nuclear power plant blew up, the effect would be 10times larger than the Chernobyl” Ukrainian Foreign Minister Dmytro Kuleba warned while the President of Ukraine Volodymyr Zelenskyy shared an emotional speech in which he said that “explosion would be the end everyone, the end of Europe”.

⦁ BRICS bank NDB (New Development Bank) has put all new transactions of Russia on hold due to Ukraine Crisis. NDB posted a statement on Thursday that according to its articles of agreement, NDB applies sound banking principles in all its operations.

⦁ China-based AIIB also put on hold all its projects in Russia and Belarus.

On the 4th March, India abstained in a vote in UNHRC which decided to the establishment of an independent commission of inquiry on Russia – the Ukraine crisis. The 47 – member council voted on the draft resolution in the situation prevailing to human rights in Ukraine, 32 (US, UK, UAE, France, Nepal, Germany, Japan) among the total votes were in favor of the resolution while 13 abstentions including India and 2 votes against the resolution (Russia and Eritrea). After the vote at UNHRC on Friday Ukrainian ambassador, Yevheniia Filipenko tells Putin “ Whole world is against you”.

The effect of Russia Ukraine war is now visible on the world economy

⦁ Euro sank below $1. 10 on Friday for the first time since 2020.

⦁ A London – based analytics and consulting company, GlobalData cuts the Indian economy growth forecast for the year 2022 to 7. 8 % because the export of the nation is being impacted and a spike in oil price will result in inflationary pressures.

Today’s evening Olaf Scholz, German Chancellor urges Vladimir Putin to immediately cease hostilities and allow access to humanitarian aid in Ukraine in a telephone call.

The foreign minister of Ukraine, Dmytro kuleba took part today in the meeting of NATO Foreign Ministers where he said NATO counterparts “Act now before it’s too late and doesn’t let Valadimir Putin turn Ukraine into Syria”. He further added that Ukraine needs partners for help then with concrete, resolute and swift actions in the current situation.

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