The US will open its embassy and resume diplomatic functions from Kyiv today. US secretary of state Antony Blinken said: “We stand proudly with, and continue to support, the government and people of Ukraine as they defend their country.”
Meanwhile, Russia on 24th February launched the war on Ukraine. And, according to the latest updates, the World Bank will make $30bn available to help stem a food security crisis threatened by Russia’s war in Ukraine, which has cut off most grain exports from the two countries. Also, UN secretary-general António Guterres has warned that the food shortages stoked by the war in Ukraine could last years and cause mass hunger and famine across the world. However, Financial markets have endured another torrid day amid concerns that the war in Ukraine, along with inflation and supply problems, was pushing the world towards recession. In the US the Dow Jones average closed down 3.57% on Wednesday while the broader S&P500 suffered its worst session since June 2020, plunging 4.04%.