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London
CNN
—
When Russia launched its full-scale invasion of Ukraine one year ago, Western countries hit back with unprecedented sanctions to punish Moscow and pile pressure on President Vladimir Putin. The aim: to deal an economic blow so severe that Putin would reconsider his brutal war.
Russia’s economy did weaken as a result. But it also showed surprising resilience. As demand for Russian oil fell in Europe, Moscow redirected its barrels to Asia. The country’s central bank staved off a currency crisis with aggressive capital controls and interest rate hikes. Military expenditure supported the industrial sector, while the scramble to replace Western equipment and technology lifted investment.
“The Russian economy and system of government have turned out to be much stronger than the West believed,” Putin said in a speech to Russia’s parliament Tuesday.
Yet cracks are starting to show and they will widen over the next 12 months. The European Union — which spent more than $100 billion on Russian fossil fuels in 2021 — has made huge strides in phasing out purchases. The bloc, which dramatically reduced its dependence on Russian natural gas last year, officially banned most imports of Russian crude oil by sea in December. It enacted a similar block on refined oil products this month.
Those measures are already straining Russia’s finances as it struggles to find replacement customers. The government reported a budget deficit of about 1,761 billion rubles ($23.5 billion) for January. Expenditure jumped 59% year-over-year, while revenue plunged 35%. Deputy Prime Minister Alexander Novak announced that Russia would cut oil production by about 5% starting in March.
“The era of windfall profits from the oil and gas market for Russia is over,” Janis Kluge, an expert on Russia’s economy at the German Institute for International and Security Affairs, told CNN.
Meanwhile, the ruble has slumped to its weakest level against the US dollar since last April. The currency’s weakness has contributed to high inflation. And most businesses say they can’t conceive of growing right now given high levels of economic uncertainty, according to a recent survey by a Russian think tank.
These dynamics place the country’s economy on a trajectory of decline. And they will force Putin to choose between ramping up military spending and investing in social goods like housing and education — a decision that could have consequences both for the war and the Russian public’s support of it.
“This year could really be the key test,” said Timothy Ash, an associate fellow in the Russia and Eurasia program at Chatham House, a think tank.
In a bid to bring Russia to heel for its aggression, Western countries have used their sway over the global financial system, unveiling more than 11,300 sanctions since the invasion and freezing some $300 billion of the country’s foreign reserves. At the same time, more than 1,000 companies, ranging from BP
(BP) to McDonald’s
(MCD) and Starbucks
(SBUX), have exited or curtailed operations in the country, citing opposition to the war and new logistical challenges.
Russia’s economic output duly contracted by 2.1% last year, according to a preliminary estimate from the government. But the hit was more limited than forecasters initially expected. When sanctions were first imposed, some economists predicted a contraction of 10% or 15%.
One reason for Russia’s unexpected pluck was its push toward self-sufficiency following Putin’s annexation of Crimea from Ukraine in 2014. Through a policy known as “Fortress Russia,” the government boosted domestic food production and policymakers forced banks to build up their reserves. That created a degree of “durability,” said Ash at Chatham House.
The swift intervention of Russia’s central bank, which jacked up interest rates to 20% after the invasion and implemented currency controls to buttress the ruble, was also a stabilizing force. So was the need for factories to increase production of military goods and replace items that had been imported from the West.
But the greatest support came from high energy prices and the world’s continued thirst for oil and other commodities.
Russia, the world’s second-largest exporter of crude, was able to send barrels that would have gone to Europe to countries like China and India. The European Union, which imported an average of 3.3 million barrels of Russian crude and oil products per day in 2021, was also still buying 2.3 million barrels per day as of November, according to the International Energy Agency (IEA).
“It’s a question of natural resources,” Sergey Aleksashenko, Russia’s former deputy minister of finance, said at an event last month hosted by the Center for Strategic and International Studies, a think tank. That meant the economy experienced a decline, but “not a collapse,” he added.
In fact, Russia’s average monthly oil export revenues rose by 24% last year to $18.1 billion, according to the IEA. Yet a repeat performance is unlikely, presaging increasingly tough decisions for Putin.
The price of a barrel of Urals crude, Russia’s main blend, fell to an average of $49.50 in January after Europe’s oil embargo — as well as a Group of Seven price cap — took effect. By comparison, the global benchmark stood around $82. That suggests that customers like India and China, seeing a smaller pool of interested buyers, are negotiating greater discounts. Russia’s 2023 budget is based on a Urals price of more than $70 per barrel.
Finding new buyers for processed oil products, which are also subject to new embargoes and price caps, won’t be easy either. China and India have their own network of refineries and prefer to buy crude, noted Ben McWilliams, an energy consultant at Bruegel.
Meanwhile, gas exports to Europe have plunged since Russia shut its Nord Stream 1 pipeline.
Russia’s government relied on the oil and gas sector for 45% of its budget in 2021. As it plans to maximize defense spending, lower revenues inevitably mean trade-offs. Spending plans for 2023 finalized in December involved a decrease in expenditure on housing and health care, as well as a category that includes public infrastructure.
“Whatever energy resources are obtained, they’ll be spent on military needs,” said Gulnaz Sharafutdinova, acting director of the Russia Institute at King’s College London.
The International Monetary Fund still expects Russia’s economy to expand by 0.3% this year and 2.1% the next. Yet any outlook is contingent on what happens in Ukraine.
“Whether the economy shrinks or expands in 2023 will be determined by developments in the war,” Tatiana Orlova, an economist at Oxford Economics, wrote in a note to clients on Tuesday. Shortages of workers tied to military conscription and emigration pose a key risk, she noted.
The impact of Western sanctions is poised to develop into a crisis over time. Bloomberg Economics estimates that Putin’s war in Ukraine will slash $190 billion off Russia’s gross domestic product by 2026 compared with the country’s prewar path.
Sectors that rely on imports have been particularly vulnerable. Domestic car makers such as Avtovaz, which manufactures the iconic Ladas, have struggled with shortages of key components and materials.
Russia’s auto industry was already weakened after companies such as Volkswagen
(VLKAF), Renault
(RNLSY), Ford
(F) and Nissan
(NSANF) halted production and began to sell their local assets last year. Chinese firms have stepped up their presence, part of a broader trend. Even so, sales of new cars dropped 63% year-over-year in January, according to the Association of European Businesses.
Across sectors, firms are struggling to plan for the future. A survey of more than 1,000 Russian businesses by the Stolypin Institute of Economic Growth in November found that almost half plan to maintain production over the next one to two years and aren’t thinking about growth. The group said this contributed to a high risk of “long-term stagnation of the Russian economy.”
Given Putin’s ideological commitment to subsuming Ukraine, he’s unlikely to back down, according to Sharafutdinova at King’s College London. But his war chest “is likely, inevitably, to diminish,” she added.
Prioritizing military spending will also come at a social cost, with a “slow and creeping” erosion of living standards, she added.
“In normal times, we might have said that the population would protest against that,” Sharafutdinova said. “But of course, these are not normal times.”
— Clare Sebastian and Olesya Dmitracova contributed reporting.
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Russian military strike in central Kyiv, Ukraine, on October 10. At least 19 people were killed and more than 100 injured in Russian missile strikes on Kyiv and other Ukrainian cities on Monday as Moscow targeted critical energy infrastructure.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1128″ width=”2000″/>


Ukrainian military continues to advance into several of the areas Russia now claims as its own.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1953″ width=”2930″/>

strike on a convoy of civilian cars that killed at least 30 people near Zaporizhzhia, Ukraine, on September 30.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1331″ width=”2000″/>
results of a referendum on the joining of the DPR to Russia, in Donetsk, Ukraine, on September 27.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1250″ width=”2000″/>

referendum poster reading “Yes” in Berdyansk, Ukraine, on September 26. Russia is attempting to annex up to 18% of Ukrainian territory, with President Vladimir Putin expected to host a ceremony in the Kremlin to declare four occupied Ukrainian territories part of Russia.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1333″ width=”2000″/>
mass grave in a forest on the outskirts of Izyum, eastern Ukraine on September 18. Ukrainian authorities discovered hundreds of graves outside the formerly Russian-occupied city.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1129″ width=”2000″/>
inspect the Zaporizhzhia nuclear power plant in Zaporizhzhia, Ukraine, on September 1.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1501″ width=”2461″/>
six month anniversary of the Russian invasion, on August 24. ” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1333″ width=”2000″/>

leaving port of Odesa, Ukraine, on August 5. ” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1356″ width=”2000″/>
evacuation train departs from Pokrovsk, eastern Ukraine, on August 2.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1724″ width=”2500″/>
Russian missile strike in Mykolaiv, Ukraine, on August 1.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1667″ width=”2500″/>




At least 29 people have been confirmed dead.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1407″ width=”2500″/>



missile attack in the Serhiivka district of Odesa, Ukraine, on July 1.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1881″ width=”3000″/>

rocket attack in Kremenchuk, Ukraine, on June 28.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1395″ width=”2322″/>
session of G7 leaders via video link from his office in Kyiv, Ukraine, on Monday June 27.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”2001″ width=”3000″/>
Severodonetsk, Ukraine, on June 20.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”2000″ width=”3000″/>
French President Emmanuel Macron, German Chancellor Olaf Scholz and Italian PM Mario Draghi past destroyed buildings in Irpin, Ukraine, on June 16.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1677″ width=”3000″/>
Young people swing in front of destroyed residential buildings in Borodyanka, Ukraine, on June 15.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1297″ width=”2000″/>

mass grave near the village of Vorzel in the Bucha district near Kyiv, Ukraine, on June 13.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1306″ width=”2000″/>

front line in Severodonetsk, Ukraine, on Wednesday, June 8.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1333″ width=”2000″/>
MLRS towards Russian positions at the front line in the eastern Ukrainian region of Donbas on June 7.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1333″ width=”2000″/>



sentenced to life in prison by a Ukrainian court in Kyiv on May 23. He was convicted of killing an unarmed civilian. It was the first war crimes trial arising from Russia’s invasion.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”2667″ width=”4000″/>
evacuated from the Azovstal steel plant wait near a prison in Olyonivka on May 17. The steel plant was the last holdout in Mariupol, a city that had become a symbol of Ukrainian resistance under relentless Russian bombardment.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1333″ width=”2000″/>



internally displaced people in Zaporizhzhia, Ukraine, on May 8.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1224″ width=”2000″/>

Antonov Airport in Hostomel, Ukraine, on May 5.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1625″ width=”2437″/>
fire at an oil depot in Makiivka, Ukraine, after missiles struck a facility in an area controlled by Russian-backed separatist forces on May 4.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1101″ width=”1854″/>

the most senior US official to meet with Zelensky since Russia invaded Ukraine.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1333″ width=”2000″/>
struck the Ukrainian capital shortly after a meeting between Ukrainian President Volodymyr Zelensky and UN Secretary-General António Guterres.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1953″ width=”2930″/>


attend a meeting in Kyiv with Ukrainian President Volodymyr Zelensky on April 24.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1684″ width=”3000″/>
Easter church service at St. Michael’s Cathedral in Kyiv on April 24.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”2336″ width=”3500″/>


Russian attack on Mariupol.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1511″ width=”2257″/>








Shocking images showing the bodies of civilians scattered across the suburb of Kyiv sparked international outrage and raised the urgency of ongoing investigations into alleged Russian war crimes. Ukrainian President Volodymyr Zelensky called on Russian leaders to be held accountable for the actions of the nation’s military. The Russian Ministry of Defense, without evidence, claimed the extensive footage of Bucha was “fake.”” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1668″ width=”2500″/>

What was left of the town, after intense shelling and devastating airstrikes, was then occupied by Russian forces.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1688″ width=”3000″/>
Zelensky emphasized as he stood in the town, surrounded by security.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”2989″ width=”5045″/>
confirmed a strike on an oil refinery and fuel storage facilities in the port city.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1099″ width=”1953″/>


meet in Istanbul for talks on March 29. Russia said it would “drastically reduce” its military assault on the Ukrainian cities of Kyiv and Chernihiv. The announcement came after Ukrainian and Western intelligence assessments recently suggested that Russia’s advance on Kyiv was stalling. The talks also covered other important issues, including the future of the eastern Donbas region, the fate of Crimea, a broad alliance of security guarantors and a potential meeting between Russian President Vladimir Putin and Ukrainian President Volodymyr Zelensky.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1953″ width=”2930″/>
following a Russian attack on March 29. At least nine people were killed, according to the Mykolaiv regional media office’s Telegram channel.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1703″ width=”3000″/>















the 110-minute call to dissuade Xi from assisting Russia in its war on Ukraine.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”2000″ width=”3000″/>
the celebration, which commemorated the eighth year of Russia’s annexation of Crimea.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”2279″ width=”3876″/>
The historic speech occurred as the United States is under pressure to provide more military assistance to the embattled country.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1186″ width=”2000″/>

an airstrike on the Yavoriv military base near the Polish border. Local authorities say 35 people were killed.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1333″ width=”2000″/>



besieged by Russian forces.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”909″ width=”1616″/>
their newborn daughter, Veronika, at a hospital in Mariupol on March 11. Vishegirskaya survived the
a funeral service for three Ukrainian soldiers in Lviv on March 11. Senior Soldier Andrii Stefanyshyn, 39; Senior Lt. Taras Didukh, 25; and Sgt. Dmytro Kabakov, 58, were laid to rest at the Saints Peter and Paul Garrison Church. Even in this sacred space, the sounds of war intruded: an air raid siren audible under the sound of prayer and weeping. Yet no one stirred. Residents are now inured to the near-daily warnings of an air attack.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1331″ width=”2000″/>
Lavrov falsely claimed that his country “did not attack” its neighbor.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1278″ width=”2000″/>
Due to heavy fighting, Irpin has been without heat, water or electricity for several days.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1333″ width=”2000″/>
bombed maternity hospital in Mariupol on March 9. The woman and her baby later died,
unable to hold proper burials.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”2667″ width=”4000″/>
stretched for miles as people tried to escape fighting in districts to the north and northwest of Kyiv.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1333″ width=”2000″/>
addresses British lawmakers via video on March 8. “We will not give up and we will not lose. We will fight until the end at sea, in the air. We will continue fighting for our land, whatever the cost,” he said in his comments translated by an interpreter. The House of Commons gave Zelensky a standing ovation at the end of his address.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1333″ width=”2000″/>

a Russian military strike.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1297″ width=”2000″/>


Russian missile attack on Kyiv on Thursday, April 28, which occurred as the United Nations Secretary General Antonio Guterres was finishing a visit to the Ukrainian capital.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1875″ width=”2500″/>
their meeting, in Kyiv, on April 28. ” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1668″ width=”2500″/>
Residents wrapped statues in protective sheets to try to safeguard historic monuments across the city.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”2000″ width=”3000″/>
18-month-old son, Kirill, who was wounded by shelling in Mariupol on March 4. Medical workers frantically tried to save the boy’s life, but he didn’t survive.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”2000″ width=”3000″/>
According to the Washington Post, he was a member of Ukraine’s Territorial Defense Forces, which is comprised mostly of volunteers.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1334″ width=”1941″/>



Russian forces have “occupied” the power plant.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”2014″ width=”3584″/>
a senior US defense official told reporters.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1202″ width=”2000″/>
Video of the incident was widely shared on social media.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1334″ width=”2000″/>








take shelter in a subway station in Kyiv on March 2.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1667″ width=”2500″/>




an exclusive interview with CNN and Reuters on March 1. Zelensky said that as long as Moscow’s attacks on Ukrainian cities continued, little progress could be made in talks between the two nations. “It’s important to stop bombing people, and then we can move on and sit at the negotiation table,” he said.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1334″ width=”2000″/>
Russian forces fired rockets near the tower and struck a Holocaust memorial site in Kyiv hours after warning of “high-precision” strikes on other facilities linked to Ukrainian security agencies.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1667″ width=”2500″/>







hold talks in Belarus on February 28. Both sides discussed a potential “ceasefire and the end of combat actions on the territory of Ukraine,” Ukrainian presidential adviser Mikhaylo Podolyak told reporters. Without going into detail, Podolyak said that both sides would return to their capitals for consultations over whether to implement a number of “decisions.”” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1475″ width=”2500″/>

according to the Associated Press was killed by Russian shelling in a residential area, lies on a medical cart at a hospital in Mariupol on February 27. The girl, whose name was not immediately known, 





extended a citywide curfew.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”2000″ width=”3000″/>


that was damaged by shelling.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1305″ width=”2000″/>

The dramatic scene was captured on video, and CNN confirmed its authenticity. The moment drew comparisons to the iconic
told CNN that more than 120,000 people had left Ukraine while 850,000 were internally displaced.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1333″ width=”2000″/>
Explosions were seen and heard in parts of the capital as Ukrainians battled to hold back advancing Russian troops.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1125″ width=”2000″/>
Newly married couple Yaryna Arieva and Sviatoslav Fursin pose for photo in Kyiv on February 25 after they joined the Territorial Defense Forces.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1333″ width=”2000″/>






their wedding ceremony at the St. Michael’s Cathedral in Kyiv on February 24. They had planned on getting married in May, but they rushed to tie the knot due to the attacks by Russian forces. “We maybe can die, and we just wanted to be together before all of that,” Arieva said.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1875″ width=”2500″/>

address the Russian invasion on February 24. “Putin is the aggressor. Putin chose this war. And now he and his country will bear the consequences,” Biden said, laying out a set of measures that will “impose severe cost on the Russian economy, both immediately and over time.”” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1667″ width=”2500″/>
Airports were also hit in Boryspil, Kharkiv, Ozerne, Kulbakino, Kramatorsk and Chornobaivka.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”3257″ width=”4885″/>
seized control of the the plant, the site of the world’s worst nuclear disaster.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1581″ width=”2500″/>
In a video address, Zelensky announced that he was introducing martial law. He urged people to remain calm.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”2000″ width=”3000″/>

a barrage of artillery.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1670″ width=”2500″/>
exiting Kyiv on February 24. Heavy traffic appeared to be heading west, away from where explosions were heard early in the morning.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1335″ width=”2000″/>
announces a military operation in the Donbas region of eastern Ukraine on February 24. “Whoever tries to interfere with us, and even more so to create threats to our country, to our people, should know that Russia’s response will be immediate and will lead you to such consequences as you have never experienced in your history,” he said.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1219″ width=”2000″/>
An emergency meeting of the UN Security Council is held in New York to discuss the crisis on February 23. UN Secretary General Antonio Guterres told Russian President Vladimir Putin to stop “attacking Ukraine” and to give peace a chance.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1125″ width=”2000″/>



killed by a shrapnel wound on February 19 after several rounds of artillery fire were directed at Ukrainian positions near Myronivske.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1334″ width=”2000″/>
Global markets tumbled the day after Putin ordered troops into parts of eastern Ukraine.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1334″ width=”2000″/>
an address by Putin from their hotel room in Taganrog, Russia, on February 21. Putin blasted Kyiv’s growing security ties with the West, and in lengthy remarks about the history of the USSR and the formation of the Ukrainian Socialist Soviet Republic, he appeared to cast doubt on Ukraine’s right to self-determination.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1573″ width=”2500″/>
Putin signs decrees recognizing the Donetsk People’s Republic and the Luhansk People’s Republic in a ceremony in Moscow on February 21. Earlier in the day, the heads of the self-proclaimed pro-Russian republics requested the Kremlin leader recognize their independence and sovereignty. Members of Putin’s Security Council supported the initiative in a meeting earlier in the day.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1617″ width=”2500″/>




the position came under fire. No one was injured.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1406″ width=”2500″/>




a staged attack designed to stoke tensions in eastern Ukraine.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1068″ width=”1600″/>
those who died in 2014 while protesting against the government of President Viktor Yanukovych, a pro-Russian leader who later fled the country.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1307″ width=”2000″/>
damaged by shelling is seen in Stanytsia Luhanska, Ukraine, on February 17. No lives were lost, but it was a stark reminder of the stakes for people living near the front lines that separate Ukrainian government forces from Russian-backed separatists.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1333″ width=”2000″/>



urged Americans in Ukraine to leave the country, warning that “things could go crazy quickly” in the region.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1336″ width=”2000″/>
were hit by cyberattacks that day, as were the websites of Ukraine’s defense ministry and army, according to Ukrainian government agencies.” class=”image_gallery-image__dam-img image_gallery-image__dam-img–loading” onload=’this.classList.remove(‘image_gallery-image__dam-img–loading’)’ height=”1334″ width=”2000″/>































