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[1/4] A Ukrainian service member prepares to shoot from a howitzer at a front line, as Russia's attack on Ukraine continues, near the city of Bakhmut, Donetsk region, Ukraine March 2, 2023. Russian forces have been attacking Bakhmut in Donetsk province for months, sometimes in waves and the site has become one of the bloodiest battles of the war. Ukraine says the city has limited strategic value but wants to exhaust Russian forces. Russian shelling hit Bakhmut and several nearby towns - including Chasiv Yar, the biggest town to the west - and two towns south of Bakhmut, it said. In central Zaporizhzhia region and in Kherson region on the southern front, Russian forces shelled more than 40 towns and villages, the Ukrainian military statement said.

In Moscow, President Vladimir Putin said Russia had been hit by what he called a terrorist attack in its southern Bryansk region bordering Ukraine. Near the front lines west of Bakhmut, in the Ukrainian-held town of Chasiv Yar, the thump of outgoing artillery fire could be heard on Thursday morning. Ukraine says the city has limited strategic value but it is exhausting Russia's invasion force in what has become the bloodiest battle of the war. [1/5] Ukrainian service members ride a self-propelled howitzer, as Russia's attack on Ukraine continues, near the frontline city of Bakhmut, Ukraine February 27, 2023. In the southern city of Zaporizhzhia, Russian missiles crashed into a five-story apartment block overnight, collapsing upper floors.

In Moscow, President Vladimir Putin said Russia had been hit by what he called a terrorist attack in its southern Bryansk region bordering Ukraine. Putin vowed to crush what he said was a Ukrainian sabotage group that had fired at civilians. Bakhmut has been reduced to a blasted wasteland, with a few thousand of its 70,000 pre-war civilian population still inside as armies battle street-by-street. [1/5] Ukrainian service members ride a self-propelled howitzer, as Russia's attack on Ukraine continues, near the frontline city of Bakhmut, Ukraine February 27, 2023. In the southern city of Zaporizhzia, Russian missiles crashed into a five-story apartment block overnight, collapsing upper floors.

U.S. Secretary of State Antony Blinken told Russian Foreign Minister Sergei Lavrov to end the war and urged Moscow to reverse its suspension of the New START nuclear treaty, a senior U.S. official said. The Russian foreign ministry said Lavrov and Blinken spoke "on the move" for less than 10 minutes at the end of the closed-door session, and did not engage in any negotiations, Russian news agencies reported. Blinken later told a news conference he had told Lavrov to engage in diplomacy during the unscheduled encounter. [1/6] U.S Secretary of State Antony Blinken (top L) walks past Russian Foreign Minister Sergei Lavrov (lower) during the G20 foreign ministers' meeting in New Delhi on March 2, 2023. French Foreign Minister Catherine Colonna said the war in Ukraine had hurt "almost every country on the planet, in terms of food, energy, inflation".

[1/5] Ukrainian service members ride a self-propelled howitzer, as Russia's attack on Ukraine continues, near the frontline city of Bakhmut, Ukraine February 27, 2023. Near the front lines west of Bakhmut, in the Ukrainian-held town of Chasiv Yar, the thump of outgoing artillery fire could be heard. CROSS-BORDER RAIDThe reported cross-border raid into Russia's Bryansk province comes days after Moscow said Kyiv had attacked targets deep inside its territory with drones. Russia's RIA state news agency said several people had been taken hostage in a store in Lubechanye, less than a kilometre from Russia's border with northeastern Ukraine. Echoing wording from earlier meetings, host India said countries apart from Russia and China had condemned the war.

[1/6] A man arranges the flags kept outside the venue for G20 foreign ministers’ meeting in New Delhi, India, March 2, 2023. The Russian foreign ministry said Lavrov and Blinken spoke "on the move" but did not hold negotiations or a meeting, Russian news agencies reported. News of the exchange came at the end of the day-long G20 meeting which, as expected, was overshadowed by the Ukraine war. "Unfortunately, this meeting has again been marred by Russia’s unprovoked and unjustified war against Ukraine," Blinken said. French Foreign Minister Catherine Colonna said the war in Ukraine had hurt "almost every country on the planet, in terms of food, energy, inflation".

☆ Antony Blinken Meets With Russian Foreign Minister Lavrov at G-20 Meeting
▼ + stars: | 2023-03-02 | by ( Vivian Salama | ) www.wsj.com time to read: 1 min

U.S. Secretary of State Antony Blinken heads to a meeting on the sideline of the G-20 foreign ministers’ meeting in New Delhi Thursday. NEW DELHI—Secretary of State Antony Blinken had his first in-person conversation with his Russian counterpart since Moscow launched its war in Ukraine last year. The brief encounter between Mr. Blinken and Russian Foreign Minister Sergei Lavrov on the sidelines of the Group of 20 ministerial meeting in India’s capital Thursday was unplanned, U.S. officials said, and lasted only about 10 minutes.

☆ Blinken Presses Russia’s Lavrov in Unscheduled G-20 Discussion
▼ + stars: | 2023-03-02 | by ( Vivian Salama | ) www.wsj.com time to read: 1 min

NEW DELHI—Secretary of State Antony Blinken held his first face-to-face conversation with his Russian counterpart on the sidelines of a meeting of foreign ministers from the Group of 20, while Russia and China blocked the gathering’s effort to condemn Russia’s invasion of Ukraine. The summit in India’s capital on Thursday was aimed at addressing some of the world’s most pressing challenges, from food and fuel security to counternarcotics and climate change. While the bloc reached agreement on many of those issues, the war in Ukraine proved itself an obstacle to any genuine consensus among members of the world’s 20 largest economies, raising questions about the effectiveness of the forum.

☆ Bangladesh urges G-20 to force companies making profit from Ukraine war to compensate poor nations
▼ + stars: | 2023-03-02 | by ( Sumathi Bala | ) www.cnbc.com time to read: +1 min

Bangladesh's foreign minister said companies making "runaway profit" from the war in Ukraine should compensate affected, less developed nations. "In this war, some companies are making runaway profit... energy companies and the defense companies," AK Abdul Momen told CNBC's Tanvir Gill on the sidelines of the G-20 foreign ministers summit in New Delhi. "Therefore, we will argue that those companies that are making runaway profit, they should dedicate at least 20% of the profit to those countries that are most affected like us," he added, without naming specific companies. The war has also had major global economic ramifications, especially for countries like Bangladesh which imports most of its energy. The foreign minister said about 95% of the country's energy is imported.

☆ Blinken says G20 meeting in India marred by Russia-Ukraine war
▼ + stars: | 2023-03-02 | by ( Simon Lewis | ) www.reuters.com time to read: +2 min

This year’s host India has declined to blame Russia for the war, seeking a diplomatic solution and sharply boosting its purchases of Russian oil. The G20 should repeat calls – agreed upon by most G20 nations’ leaders in Bali in November - for Russia to end the war and withdraw for the sake of international peace and economic stability, Blinken said. Blinken said Russia has yet to agree to renew the Black Sea Grain Initiative, which facilitates the export of Ukraine's agricultural products, before it expires on March 18. "It is imperative the G20 speak up on behalf of extending and expanding the (Black Sea) grain initiative to strengthen food security for the most vulnerable," Blinken added. Reporting by Simon Lewis and Sudipto Ganguly; Editing by Krishna N. Das and Gareth JonesOur Standards: The Thomson Reuters Trust Principles.

☆ Morning Bid: Ten-four, Treasury yields soar
▼ + stars: | 2023-03-02 | by ( ) www.reuters.com time to read: +4 min

The remarkable sight of 10-year Treasury yields back above 4% for the first time in almost four months is only matched by two-year yields at 15-year highs stalking 5%. Weekly jobless claims on Thursday and the latest Fed speakers take on unusual importance in such a febrile rates market. And 6% Fed rates that seemed fanciful only a month ago are now being openly discussed by banks. Despite year-on-year oil prices now tracking declines of 25%, European inflation fears are a key feature of this week's nervousness. Benchmark German 10-year bond yields soared to 11-year highs at 2.77%.

☆ Ukraine clings to Bakhmut but time may be running out as Russians advance
▼ + stars: | 2023-03-02 | by ( ) www.reuters.com time to read: +4 min

[1/5] Ukrainian service members ride a self-propelled howitzer, as Russia's attack on Ukraine continues, near the frontline city of Bakhmut, Ukraine February 27, 2023. Ukraine says Bakhmut has limited strategic value but has nevertheless put up fierce resistance. Not everyone in Ukraine is convinced that defending Bakhmut can go on indefinitely. "From my standpoint, it is not logical to defend Bakhmut at any cost," Rakhmanin said. Russian forces were making preparations for new attacks in central Zaporizhzhia region and on the southern front in Kherson region, the military statement said.

☆ Most G20 members condemn Ukraine war, except China and Russia
▼ + stars: | 2023-03-02 | by ( ) www.reuters.com time to read: 1 min

NEW DELHI, March 2 (Reuters) - Most members from the Group of 20 nations (G20) strongly condemned the war in Ukraine on Thursday, with only Russia and China disagreeing, current president India said after a meeting of the bloc's foreign ministers in New Delhi. India's "chair's summary & outcome document" after the meeting largely stuck to the language used in a similar statement it released following a meeting of G20 financial leaders last week. In that gathering too, Russia and China disagreed with statements condemning the war. Reporting by Shivam Patel in New Delhi Editing by Gareth Jones and Krishna N. DasOur Standards: The Thomson Reuters Trust Principles.

[1/6] A man arranges the flags kept outside the venue for G20 foreign ministers’ meeting in New Delhi, India, March 2, 2023. European and U.S. delegates, in New Delhi for the foreign ministers' meeting, have however reiterated that they hold Russia responsible for the conflict, with Germany saying it would use the meeting to counter Russian "propaganda". "You are meeting at a time of deep global divisions," Modi said in a video message as the talks began. The foreign ministers' meeting comes days after a meeting of the G20 finance chiefs that was also dominated by war. The New Delhi meeting is being attended by 40 delegations, including those headed by Russian Foreign Minister Sergei Lavrov, U.S. Secretary of State Antony Blinken and Chinese Foreign Minister Qin Gang.

☆ Russia says West is 'burying' Black Sea grain deal
▼ + stars: | 2023-03-02 | by ( ) www.reuters.com time to read: +1 min

March 2 (Reuters) - Russian Foreign Minister Sergei Lavrov on Thursday accused the West of "shamelessly burying" the Black Sea grain initiative that facilitates the export of Ukraine's agricultural products from its southern ports, the RIA Novosti news agency reported. "The West is shamelessly burying the well known humanitarian initiative of the United Nations Secretary-General," RIA quoted Lavrov as saying at a G20 foreign ministers' meeting, in reference to the grain deal. Ahead of a previous deadline to extend the deal in November, Russia also escalated its criticism of the deal in a bid to get more concessions from the West, but ultimately let it roll over for another 120 days. Russia's foreign ministry said on Wednesday it would only agree to a second extension of the deal if the interests of its own agricultural producers were taken into account. Russia's farm sector has not been explicitly targeted by Western sanctions, but Moscow says the sanctions affect payments, shipping and insurance and therefore pose a "barrier" to its grain and fertiliser exports.

☆ China urges global lenders' involvement in developing nations' debt
▼ + stars: | 2023-03-02 | by ( ) www.reuters.com time to read: +2 min

[1/3] Chinese Foreign Minister Qin Gang and India's Foreign Minister Subrahmanyam Jaishankar shake hands before the start of G20 foreign ministers' meeting in New Delhi, India, March 2, 2023. India's Ministry of External Affairs/Handout via REUTERSNEW DELHI, March 2 (Reuters) - Chinese Foreign Minister Qin Gang called on global financial institutions on Thursday to play an active role in restructuring the debt of developing countries. "China has put forth relevant initiatives under the G20," Qin said. "China has suspended more debt service payments than any other G20 member, and participated in the debt treatment under the Common Framework." Last week, China urged G20 nations to conduct a fair, objective and in-depth analysis of the causes of global debt issues and to "resolve the problem in a comprehensive and effective manner".

☆ Russians intensify assault on Bakhmut, Ukrainian forces try to dig in
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +5 min

Ukrainian aircraft launched three strikes on areas of concentration of Russian forces, according to a statement by the General Staff of the Ukrainian Armed Forces on Tuesday night. Bakhmut had a pre-war population of around 70,000 but has been ruined during months of fighting as a focal point of Russian assaults and determined Ukrainian defence. A Russian takeover of Bakhmut would open the way to seizing the last remaining urban centres in the industrial Donetsk province. 'GRINDING SLOG'[1/4] Ukrainian service members ride BMP-2 infantry fighting vehicles, as Russia's attack on Ukraine continues, near the frontline city of Bakhmut, Ukraine February 27, 2023. The meeting will be attended by Russian Foreign Minister Sergei Lavrov U.S. Secretary of State Antony Blinken and Britain's James Cleverly, while China is expected to send its foreign minister, Qin Gang.

☆ Blinken has 'no plans' to meet Russian, Chinese counterparts at Delhi G20 meetings
▼ + stars: | 2023-03-01 | by ( Simon Lewis | ) www.reuters.com time to read: +1 min

[1/5] U.S. Secretary of State Antony Blinken speaks during a news conference at the Hyatt Regency in Tashkent, Uzbekistan March 1, 2023. Olivier Douliery/Pool via REUTERSTASHKENT, March 1 (Reuters) - U.S. Secretary of State Antony Blinken said on Wednesday that he has no plans to meet either the foreign ministers of Russia or of China during the Group of 20 (G20) meeting in New Delhi. Russian Foreign Minister Sergei Lavrov and Chinese Foreign Minister Qin Gang are attending the meeting. A Russian foreign ministry official said Lavrov was aiming to meet at least seven foreign ministers before India hosts a welcome dinner on Wednesday for delegates from 40 countries. During his trip to Kazakhstan and Uzbekistan, Blinken met with counterparts from all five Central Asian countries that used to be ruled from Moscow and have strong trade links with Beijing, ahead of the G20 foreign ministers' meeting.

☆ Japan foreign minister to skip G20 meeting in India -official
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: 1 min

March 1 (Reuters) - Japan's Foreign Minister Yoshimasa Hayashi will skip a meeting of G20 foreign ministers due to take place in New Delhi, India, this week, a Japanese government official said. State Minister for Foreign Affairs Kenji Yamada will represent Japan at the meetings scheduled for Wednesday and Thursday, the foreign ministry said in a statement. Hayashi will attend an in-person meeting of representatives from the Quad countries - the United States, India, Australia and Japan - in India on Friday, the ministry said. Reporting by John Geddie and Kantaro Komiya; Editing by Edmund KlamannOur Standards: The Thomson Reuters Trust Principles.

[1/5] A man walks past a model of G20 logo outside the finance ministry in New Delhi, India, March 1, 2023. Germany responded saying it would counter Russian "propaganda" at the G20 meeting. The foreign ministers meeting comes days after a meeting of finance chiefs of G20 countries in Bengaluru that was also overshadowed by Russia's war in Ukraine. An EU source separately said the EU delegation would not support a statement at the G20 meeting if it did not include condemnation of the war. The G20 includes the wealthy G7 nations as well as Russia, China, India, Brazil, Australia and Saudi Arabia, among other nations.

☆ Russia tries to close ring on Bakhmut as Ukrainians mount 'furious resistance'
▼ + stars: | 2023-03-01 | by ( Yevhen Titov | ) www.reuters.com time to read: +6 min

The leader of Russia's Wagner mercenary group said the Ukrainians were putting up "furious resistance" trying to hold the city at all costs. That came a day after Moscow accused Kyiv of launching a series of drone strikes on targets in Russia itself. [1/4] Ukrainian service members ride BMP-2 infantry fighting vehicles, as Russia's attack on Ukraine continues, near the frontline city of Bakhmut, Ukraine February 27, 2023. After losing extensive territory in the second half of 2022, Russian forces have been replenished by hundreds of thousands of reservists. Fighting near Bakhmut has been led by Wagner, which has recruited tens of thousands of convicts from prisons.

It was not clear what specific sanctions Washington will propose. Washington and its allies have said in recent weeks that China was considering providing weapons to Russia, which Beijing denies. Before that in New Delhi on Wednesday and Thursday, the war will be discussed by foreign ministers from dozens of countries, including Russia, China and the United States. The initial outreach by Washington on sanctions has not yet led to broad agreement on any specific measures, the sources said. Washington should make China choose between access to the U.S. financial system or aiding Russia's war, Ruggiero said, citing the sanctions approach to Iran and North Korea.

☆ Morning Bid: Markets March on China boomlet
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +5 min

And after a bruising setback for stocks and bonds in February, investors now have to assess whether the unfolding economic rebound is sustainable given the eye-watering revision that it's forcing in inflation and interest rate expectations. This is emboldening both the hawks at the European Central Bank and markets keen to re-price the interest rate horizon. Money markets have already moved beyond that and now price peak ECB rates at year-end almost 150 bps higher at 3.90%. Even though U.S. consumer confidence and housing data on Tuesday questioned some of the reheating narrative, markets now assume peak Federal Reserve rates will be as high as 5.42% by July. And homebuilder Persimmon (PSN.L) dropped almost 10% after it warned the housing slowdown and higher mortgage rates would hit profit and home-building targets.

☆ Russia's war on Ukraine latest: Russians press battle for Bakhmut
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +4 min

[1/2] Ukrainian service members ride a self-propelled howitzer, as Russia's attack on Ukraine continues, near the frontline city of Bakhmut, Ukraine February 27, 2023. * The Kremlin repeated its position that Russia was open to negotiations to end the Ukraine conflict, but that new "territorial realities" could not be ignored. * Foreign ministers from around the world meet in New Delhi this week in the shadow of the war and U.S.-China tensions. * External backers pour billions into Ukraine* How has China stood by 'no limits' partner Russia? * A year into war, older refugees running out of hope* Life and death in Mariupol - a survivor's tale of war* Family mourns Bucha victim who became symbol of warPODCASTLearn more about the Ukraine war.

☆ UK foreign minister raises BBC tax searches, India says laws are for all
▼ + stars: | 2023-03-01 | by ( Krishn Kaushik | ) www.reuters.com time to read: +3 min

[1/3] British Foreign Secretary James Cleverly gestures during an interview with Reuters after a bilateral meeting with India's Foreign Minister Subrahmanyam Jaishankar on the sidelines of G20 foreign ministers' meeting in New Delhi, India, March 1, 2023. REUTERS/Sunil KatariaNEW DELHI, March 1 (Reuters) - British Foreign Minister James Cleverly raised the issue of tax searches at the BBC's offices in India during a meeting with his counterpart in New Delhi on Wednesday, the minister told Reuters. In response, Cleverly was "firmly told that all entities operating in India must comply fully with relevant laws and regulations", an Indian government source said. Cleverly did not share details about the conversation with India's Foreign Minister Subrahmanyam Jaishankar ahead of a G20 foreign ministers' meeting on Thursday. Asked if there were concerns about civil liberties in India, Cleverly said: "We want to ensure that values that both our countries feel strongly about are upheld.

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