| |  |  | The Reuters Daily Briefing | Monday, February 28, 2022 by Linda Noakes | Hello Here's what you need to know. Western firms in Russia head for the exit, sanctions ripple across world markets, and Germany steps up to its role as a global power | | | | | Today's biggest stories  A woman fleeing the Russian invasion of Ukraine hugs a child at a temporary camp in Przemysl, Poland, February 28, 2022 RUSSIAN INVASION OF UKRAINE Talks between Russian and Ukrainian officials began on the Belarusian border, Moscow said, as Russia's diplomatic and economic isolation deepens four days after invading Ukraine, the biggest assault on a European state since World War Two.
Russian forces seized two small cities in southeastern Ukraine and the area around a nuclear power plant, the Interfax news agency said, but ran into stiff resistance elsewhere.
Russian President Vladimir Putin has inadvertently achieved what Western allies have long struggled to: get Germany to step up to its role as a major global power with an assertive foreign policy backed by a strong military despite its World War guilt. German Chancellor Olaf Scholz announced a dramatic hike in military spending in what is being heralded as a historic speech that marks a paradigm shift in German foreign and defense policy.
Russia's attack on Ukraine, which China refuses to condemn or even call an invasion, has sent Beijing into a diplomatic scramble to limit blowback while standing by a partner with which it has grown increasingly close in opposition to the West.
About 800 people were arrested as Belarus voted to ditch its non-nuclear status in a referendum that raises the stakes at a time when the country has become a staging ground for the Russian invasion of Ukraine.
As European nations and Canada moved to shut their airspace to Russian aircraft, Aeroflot said it would cancel all flights to European destinations.
Here's what you need to know about the Russia-Ukraine conflict.
|  People stand in line to use an ATM in Saint Petersburg, Russia, February 27, 2022 BUSINESS & MARKETS Russia's central bank more than doubled its key policy rate and introduced some capital controls as it scrambled to shield the economy from unprecedented Western sanctions that sent the rouble tumbling to record lows. The West is deploying the financial equivalent of 'shock and awe' tactics, says Breakingviews columnist Peter Thal Larsen.
World stocks slid and oil prices jumped as the fallout of tougher sanctions from the West imposed over the weekend rippled out across financial markets. Airspace closures hit airlines, with Finnair shares falling 21%, while European defense stocks surged.
Energy major BP opened a new front in the West's campaign to isolate Russia's economy, with its decision to quit the oil-rich country the most aggressive move yet by a company. BP’s bruising Russian exit may be worth the pain, says Breakingviews columnist George Hay.
Britain said it was taking further measures against Russia in concert with the United States and European Union, effectively cutting off Moscow's major financial institutions from Western financial markets. We look at how 'Londongrad' is trying to kick its 30-year Russian money habit.
The European arm of Russia's biggest lender Sberbank faces failure, the European Central Bank warned, after savers demanded deposits.
|  Flooding in the town of Lismore after heavy rains in northeastern New South Wales, Australia, February 28, 2022 IN OTHER NEWS Climate change is upon us and humanity is far from ready, the United Nations climate panel warned in a major report. Noting that nearly half the world's population was already vulnerable to increasingly dangerous climate impacts, the report calls for drastic action on a huge scale: A third to a half of the planet needs to be conserved and protected to ensure future food and freshwater supplies. Coastal cities need plans to keep people safe from storms and rising seas. And more.
Tens of thousands of people were ordered to evacuate as heavy rains smashed Australia's east coast, submerging towns and stranding residents on rooftops, with authorities warning of life-threatening flash floods. Australia's summer has been dominated by the La Nina climate pattern, which is typically associated with greater rainfall, for the second straight year.
Facilities for storing dead bodies at hospitals and public mortuaries in Hong Kong are at maximum capacity due to a record number of COVID-19 fatalities, as officials battle to control a surge in cases. We look at whether the World Health Organization's aim to vaccinate 70% of the world by June is still realistic.
Federal authorities are reinstalling fencing around the U.S. Capitol as Washington prepares for planned trucker protests inspired by demonstrations in Canada against COVID-19 pandemic-related restrictions.
North Korea said a missile test conducted yesterday was for the development of a reconnaissance satellite system, state news agency KCNA reported. The launch was the eighth test this year, and the first since January when nuclear-armed North Korea fired off a record number of missiles.
| | | | | | | | | Video of the day  Blood, tears and defiance in Ukraine Blood-stained snow remained after a battle in Ukraine's second-largest city Kharkiv as locals fought back against Russia's invasion, while thousands of mostly women and children streamed toward the borders in sub-freezing temperatures. | | | Thanks for spending part of your day with us. | | | | | |
