Latest news on Russia and the war in Ukraine
London Metal Exchange suspends nickel trading after price surge
The London Metal Exchange suspended the trading of nickel on Tuesday after prices surged above $100,000 per ton.
The LME said in a statement that trading will be suspended for at least the remainder of the day.
The exchange said it had been monitoring the evolving situation in Russia and Ukraine and it was evident this had affected the nickel market, citing extreme price moves in Asian trading hours.
“The LME will actively plan for the reopening of the nickel market, and will announce the mechanics of this to the market as soon as possible” it added.
Three-month nickel on the LME briefly jumped to a record high above $100,000 a metric ton, before paring gains.
— Chloe Taylor
Shell announces phased withdrawal from Russian oil and gas
A cyclist passes oil silos at the Royal Dutch Shell Pernis refinery in Rotterdam, Netherlands, on Tuesday, April 27, 2021.
Peter Boer | Bloomberg | Getty Images
Oil major Shell on Tuesday apologized for a buying a heavily discounted consignment of Russian oil last week, and announced it would gradually withdraw from its involvement in all Russian hydrocarbons.
“As an immediate first step, the company will stop all spot purchases of Russian crude oil. It will also shut its service stations, aviation fuels and lubricants operations in Russia,” it said in a statement.
On Friday, Shell purchased 100,000 metric tons of flagship Urals crude from Russia. It was reportedly bought at a record discount, with many firms shunning Russian oil due to Moscow’s unprovoked invasion of its neighbor. The purchase did not violate any Western sanctions.
— Matt Clinch
Footage shows civilian evacuations underway in Sumy
Kirll Timoshenko, an advisor to Ukraine’s President Zelenskyy, shared footage on Tuesday of the evacuation of civilians from Sumy.
Sumy, a city in northeast Ukraine, has been the scene of intense attacks in recent days, with an airstrike killing 18 civilians, including two children, overnight.
Oleg Nikolenko, a spokesperson for Ukraine’s Foreign Ministry, said Tuesday that a humanitarian corridor out of Sumy would be open from 10 a.m. to 9 p.m. local time to allow the evacuation of residents and foreign students.
— Chloe Taylor
2 million people have fled Ukraine, UN says
Two million people have fled Ukraine, according to U.N. High Commissioner for Refugees Filippo Grandi.
— Chloe Taylor
Mayor of Irpin says Russians have threatened his life and demanded surrender
Abandoned strollers are pictured under a destroyed bridge as people walked across the collapsed concrete to flee Irpin, a northwest suburb of Kyiv, on March 7, 2022.
Dimitar Dilkoff | AFP | Getty Images
Alexander Markushin, the mayor of Irpin — a town on the outskirts of Kyiv — said Tuesday that Russian forces had contacted him to threaten his life and demand his surrender.
“Yesterday at 17:58, I received a message from the occupiers threatening my life and health,” Markushin said, according to a translation.
He added that the message included demands for “the complete surrender of Irpin.”
“I’m surprised that these monsters still haven’t understood — Irpin doesn’t give up, Irpin doesn’t sell, Irpin fights,”…
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