Ukraine’s Foreign Minister Says Kyiv Struck By ‘Horrific Russian Rocket Strikes

  • Posted on February 25, 2022
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Ukraine is “capable of mounting a serious opposition” against Russian forces at this point, Thomas Graham of the Council on Foreign Relations told CNBC on Friday.“The Ukrainians are very proud of what they’ve done. They’re proud of their country, they’re proud of their independence, and they’re not going to accept a puppet regime run by Moscow lying down,” said Graham, a distinguished fellow at the institute.  One of the things Moscow will have to worry about is active resistance by Ukrainians, which will make taking over cities “very, very difficult,” he added.The key is the level of resistance, how tough the Ukrainians are, and to what extent they’re willing to engage in active resistance, Graham said, adding that urban warfare can be a very difficult campaign. “I think the Russians have to be worried about this.”Graham said public opinion in Russia could slowly turn against Putin and the war effort if there are many Russian casualties and deaths.— Chelsea OngFormer UK envoy to Russia says fresh Western sanctions will not deter PutinTony Brenton, a former U.K. ambassador to Russia, said fresh sanctions from the West will not have much impact on Moscow.“Putin and the people around him are far more concerned about Russia’s national security than they are about Russia’s economic prosperity,” he told CNBC’s “Squawk Box Asia” on Friday.The U.S. and U.K. on Thursday announced another round of sanctions which aim to limit Moscow’s access to the global economy. But Brenton said it will take time for these measures to work as “the effect of the sanctions is more long term.”“They’re not going to affect the short term, which is the timeframe of the war that we are now looking at,” he added.— Sumathi BalaUkraine central bank suspends electronic cash transfersUkraine’s central bank is cracking down on digital money transfers, as Russian forces lay siege across the country.The National Bank of Ukraine has ordered electronic money (e-money) issuers to suspend the issuance of e-money and the replenishment of electronic wallets with e-money. The written order also indicated that the distribution of e-money was temporarily off limits.As Ukraine’s central bank cracks down on pathways to cash and Moscow unleashes airstrikes and ground troops, some Ukrainians are instead turning to cryptocurrencies.Kuna, a popular Ukrainian crypto exchange, shows that domestic buyers are paying a premium for Tether’s USDT stablecoin, which is pegged to the price of the U.S. dollar. At the current exchange rate, however, the price for 1 USDT is roughly 32 Ukrainian hryvnia (the national currency), or $1.10, thanks to increased demand.—MacKenzie Sigaloscnbc.com

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