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Russia approaches Kyiv. Troops have closed off the Azov Sea and taken possession of Chernobyl, and the Ukraine invasion has roiled stocks and led some global firms to close their Ukrainian offices. The US added stiff sanctions against banks and businesses, while the UK announced the nation’s largest sanctions in hopes that the Kremlin will have trouble funding a war. (More about the world’s response below).
Hong Kong said its covid situation is “dire.” The territory invoked emergency powers to get help from healthcare workers in China.
A top climate researcher has ties to oil and gas companies. Scientists are worried Dutch publisher Elsevier is helping the fossil fuel industry increase drilling.
In other bad climate news, a Malaysian carbon capture project is DOA. Top officials called the $76.5 billion carbon trading deal illegal after an investigation from Al Jazeera questioned its legitimacy.
The Securities and Exchange Commission isn’t going to fight with Elon Musk. He and his company Tesla were denied a hearing on their alleged harassment from the US regulator.
What to watch for
NATO leaders will hold a meeting today to discuss the attack on Ukraine, and Western countries are expected to roll out additional sanctions in the coming days. In the meantime, the global response to Russia’s actions is changing by the hour:
🇨🇳 All eyes are on China, which signed a pact with Russia earlier this month opposing the US and its international alliances. Chinese leaders have so far declined to call the Ukraine invasion an “invasion,” and instead pointed blame at the US for “fanning the flame.”
🇮🇳 India has refrained from condemning the Ukraine invasion outright, as Russia is a major supplier of defense equipment. Meanwhile, nearly 20,000 Indian students are stranded in Ukraine.
🇧🇾 Belarusian leader Alexander Lukashenko, an ally of Putin, said his country would provide military support to Russia if needed.
Europe’s running out of energy options
Russia, which is the world’s number-three oil and gas producer and supplies 40% of Europe’s gas, will likely face restrictions on fossil fuel production and exports as a result of sanctions on its banks and pipelines.
The crisis is a double-edged sword for clean energy. Some European leaders are already citing it as a reason to accelerate the deployment of renewables and nuclear plants. Yet others are claiming that climate policy in the US and Europe has left them at Russia’s mercy, and that more domestic drilling is the answer.
About $10: Increase in barrel price due to the conflict in Ukraine
Another $10: Further increase by the end of this quarter if the situation escalates
50 days: Time it would take Russia to produce what’s in the US Strategic Petroleum Reserve
About 6 weeks: Time it would take Europe to run out of natural gas if its supply from Russia was cut off
Get up to speed on the Russia-Ukraine crisis
The conflict could and will have lasting repercussions. Here are some stories that add some valuable perspective:
- “Special operation.” Watch Putin’s televised announcement of the attack.
- Brace yourself. The world could see major airline disruptions.
- It gets even worse. The world could also see increased food inflation.
- For some, even worse than that. Lebanon could take a hit to food supply.
- Radical transparency. How Biden defeated Putin’s disinformation campaign.
- Radical humor. Ukraine’s government uses memes to hammer its message home.
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Surprising discoveries
You may be pronouncing Kyiv wrong. Here’s a brief history—and guide—to the Ukrainian capital’s name.
April is the cruelest month. That was certainly true for the dinosaurs, whose extinction-causing asteroid touched down in spring, we now know.
Ever hear of a globular cluster? Us neither, but scientists think it’s where some weird, repetitious radio bursts in space are coming from.
Pets boost their owners’ brain power. We hope the cognitive incline is mutual.
The wedding industry in India is worth $50 billion. But that’s likely an underestimate. Find out why in this week’s episode of the Quartz Obsession podcast.
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