First Round of Talks Between Russia and Ukraine Yields No Cease-Fire Agreement

The first round of talks between Russia and Ukraine delegations on Monday did not yield a cease-fire agreement. Both parties returned to their capital cities for consultations and have agreed to meet again in the coming days.

Russian forces continue to make advances into major Ukrainian cities. On Sunday, Russian artillery hit a military base in Okhtyrka, a city located between Kharvik and the capital Kyiv. The following day, Kharkiv, Ukraine’s second-largest city, was targeted by Russian rocket attacks that killed at least 11 people, said Oleg Synegubov, the Kharkiv region head. Preliminary figures report that at least 136 Ukrainian civilians had been killed by Russia’s assault, according to the U.N. human rights office. 

According to the United Nations High Commissioner for Refugees, an estimated 370,000 Ukrainians have fled Ukraine since the country was invaded by Russia last week. The U.N. estimates that the evacuation could swell to as many as 5 million individuals. Volatility continues to grip the global marketplace as Vladimir Putin’s invasion of Ukraine entered its sixth day today. 

US stocks and commodity markets are reacting severely to the war amid widespread uncertainty surrounding the future of Ukraine. Ukraine is one of the world’s top corn and wheat producers and exporters. Along with crude oil, Russia is a major producer of metals including aluminum. In recent sessions, grain futures on the CME are posting drastic price fluctuations. In early action Tuesday, ..

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