1) Ukraine and Russia to meet for peace talks
Ukrainian President Volodymyr Zelensky agreed to negotiations with Russia, four days after Russian troops invaded Ukraine. Delegations from both countries will meet on the border between Ukraine and Belarus.
2) Iraq halts production of oil fields producing nearly 500,000 bpd
Iraq has temporarily halted the operation of its West Qurna 2 oilfield for maintenance until March 2-10. The oilfield produces approximately 400,000 barrels a day, which is over a tenth of its oil output.
Iraq has also halted another 80,000 bpd of oil production from its Nassiriya oil field due to worker safety concerns.
3) Russian ruble plunges 20% in pre-market
The Russian ruble plunged more than 20% in pre-market trading, following sanctions placed on the country’s financial institutions by the majority of great power after the attack on Ukraine.
The United States and European Union banned some Russian banks from the SWIFT financial system on Saturday.
4) US urges its citizens to leave Russia immediately
The American embassy urged all US citizens to leave Russia immediately as tension escalated on the invasion of Ukraine. France is also directing all French citizens to leave Russia immediately as well.
Meanwhile, Switzerland is expecting to freeze Russian assets in the latest slap.
