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Biden says U.S. and allies making Putin's war funds 'worthless'; defiant Zelenskyy says 'we fight'

This has been CNBC's live blog tracking Tuesday's developments in Russia's attack on Ukraine. Follow the latest updates here.

Ukrainian President Volodymyr Zelenskyy spoke to U.S. President Joe Biden about efforts to curb Russian aggression, after his latest appeal to EU lawmakers to allow Ukraine to join the 27-member bloc.

His outreach comes as fighting continues in several Ukrainian cities and a huge Russian convoy heads toward the capital, Kyiv. Ukraine's government said a strike took out a TV tower in Kyiv.

Meanwhile, Western diplomats and ambassadors walked out of a U.N. Human Rights Council meeting on Tuesday when Russian Foreign Minister Sergey Lavrov's pre-recorded address began to play. A number of officials at the meeting condemned Russia's attack on Ukraine as a violation of international law.

U.S. and allies vow to make Putin's war funds "worthless"

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President Biden: Putin thought he could divide the U.S., but he was wrong

Biden rallied allies Tuesday night and praised joint economic measures imposed on Russian President Vladimir Putin's economy.

"We are cutting off Russia's largest banks from the international financial system," Biden said. "Putin is now isolated from the world more than ever," he added, referencing retaliatory measures taken for the Kremlin's war in Ukraine.

Biden said that the U.S. and its allies were making "Putin's $630 billion war fund worthless," by preventing Russia's central bank from defending the Russian ruble.

"We are choking off Russia's access to technology that will sap its economic strength and weaken its military for years to come," he added.

— Amanda Macias

U.S. bans Russian aircraft from American airspace

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U.S. closing off air space to all Russian flights: Pres. Biden

Biden said the United States will ban Russian aircraft from flying through American airspace.

The announcement comes on the heels of similar moves by the European Union and Canada.

"We will join our allies in closing off American air space to all Russian flights – further isolating Russia – and adding an additional squeeze –on their economy," Biden said.

The move would prohibit planes that are owned or registered by Russians from flying over the United States, the latest coordinated approach between U.S. and its allies amid the Kremlin's war in Ukraine.

— Amanda Macias

Biden to Russian oligarchs: We will seize your yachts, luxury apartments and private jets

VIDEO2:1202:12
President Biden to Russian oligarchs: We are coming for your ill-begotten gains

Life in a bomb shelter in Donetsk region

Residents stay in a bomb shelter after recent shellings in the separatist-controlled settlements in Mykolayivka (Nikolayevka) and Bugas in the Donetsk region (DPR) of Ukraine on March 1.

Residents stay in a bomb shelter after recent shellings in the separatist-controlled settlements in Mykolayivkaand Bugas in the Donetsk regionof Ukraine on March 01, 2022.
Anadolu Agency | Getty Images
Residents stay in a bomb shelter after recent shellings in the separatist-controlled settlements in Mykolayivkaand Bugas in the Donetsk regionof Ukraine on March 01, 2022.
Anadolu Agency | Getty Images
Residents stay in a bomb shelter after recent shellings in the separatist-controlled settlements in Mykolayivkaand Bugas in the Donetsk regionof Ukraine on March 01, 2022.
Anadolu Agency | Getty Images
Residents stay in a bomb shelter after recent shellings in the separatist-controlled settlements in Mykolayivkaand Bugas in the Donetsk regionof Ukraine on March 01, 2022.
Anadolu Agency | Getty Images
Residents stay in a bomb shelter after recent shellings in the separatist-controlled settlements in Mykolayivkaand Bugas in the Donetsk regionof Ukraine on March 01, 2022.
Anadolu Agency | Getty Images

Boeing suspends parts, maintenance and support for Russian airlines

A presentation event takes place at Sheremetyevo International Airport for Aeroflot's Boeing 777-300ER airliner featuring a revamped cabin and individual business class seating. Marina Lystseva/TASS
Marina Lystseva | TASS | Getty Images

U.S. airplane manufacturer Boeing said on Tuesday it was suspending parts, maintenance and technical support for Russian airlines as well as major operations in Moscow after Russia's invasion of Ukraine.

"As the conflict continues, our teams are focused on ensuring the safety of our teammates in the region," a Boeing spokesperson said.

The announcement came a day after Boeing said it had paused operations at its Moscow Training Campus and temporarily closed its office in Kyiv.

— Reuters

Chinese Foreign Minister Wang Yi speaks with Ukrainian counterpart

Chinese Foreign Minister Wang Yi in 2019.
Mark Kauzlarich | Reuters

Chinese Foreign Minister Wang Yi said "China is deeply grieved to see the conflict between Ukraine and Russia and is highly concerned about the damage done to civilians," according to an official English-language readout of his call with Ukrainian Foreign Minster Dmytro Kuleba.

The call focused on the safety and evacuation of Chinese citizens in Ukraine, according to the Chinese foreign ministry, which claimed the Ukrainian side initiated the call.

Wang said China has "always advocated respect for the sovereignty and territorial integrity of all countries" and called again for Russia and Ukraine to resolve the situation with negotiations. Kuleba briefed Wang on the first round of talks with Russia, and said he "looked forward to China's mediation efforts for the ceasefire."

China is one of the few countries that has refused to call Russia's attack on Ukraine an invasion.

— Evelyn Grace Cheng

'We do not hold out, we fight,' says a defiant Zelenskyy

Ukrainian President Volodymyr Zelenskiy poses after an interview with Reuters in Kyiv, Ukraine, March 1, 2022.
Umit Bektas | Reuters

Ukrainian President Volodymyr Zelenskyy spoke to Reuters on Tuesday from a heavily guarded government building in Kyiv.

"We do not hold out, we fight, and our nation will fight to the end," the 44-year-old former actor told Reuters. "This is our home, we are protecting our land, our homes. For the sake of our children's future."

"We have something to defend, we are defending our right to live," he said.

Speaking of the Russian soldiers advancing on his country, Zelenskyy asked, "What are they doing here?"

"They don't understand our people, our state, our philosophy ... They don't know anything here, they were sent here to kill and to die. Therefore we are stronger on our own land, and we will be stronger."

— Christina Wilkie

United Airlines suspends flights over Russian airspace

United Airlines planes sit on the runway at Newark Liberty International Airport on November 30, 2021 in Newark, New Jersey.
Spencer Platt | Getty Images

United Airlines confirmed it has temporarily suspended flying over Russian airspace, joining other major U.S. carriers.

United had been continuing to fly over Russian airspace to operate some flights to and from India in recent days.

Delta Air Lines, American Airlines and United Parcel Service all confirmed this week they had halted flights over Russia as the White House considers following Canada and the European Union in banning overflights of U.S. airspace by Russian carriers.

— Reuters

Biden will say Putin underestimated NATO: He 'was wrong. We were ready.'

U.S. President Joe Biden answers questions after delivering remarks about Russia's “unprovoked and unjustified" military invasion of neighboring Ukraine in the East Room of the White House on February 24, 2022 in Washington, DC.
Drew Angerer | Getty Images

President Joe Biden will tell the nation on Tuesday night that Russian President Vladimir Putin must pay a price for his unprovoked invasion of Ukraine, according to an excerpt of Biden's speech released in advance.

"Throughout our history we've learned this lesson — when dictators do not pay a price for their aggression, they cause more chaos. They keep moving. And, the costs and threats to America and the world keep rising," Biden will say during his first official State of the Union address.

"That's why the NATO Alliance was created to secure peace and stability in Europe after World War II. The United States is a member along with 29 other nations. It matters. American diplomacy matters," he will say.

"Putin's war was premeditated and unprovoked. He rejected efforts at diplomacy. He thought the West and NATO wouldn't respond. And, he thought he could divide us here at home," the president will add.

"Putin was wrong. We were ready."

Russian President Vladimir Putin attends a meeting with Governor of Saint Petersburg Alexander Beglov in Moscow, Russia March 1, 2022.
Alexey Nikolskyi | Sputnik | Reuters

— Christina Wilkie

Ukraine is winning the information war against Russia

Ukrainian President Volodymyr Zelenskiy arrives for an interview with Reuters in Kyiv, Ukraine, March 1, 2022.
Umit Bektas | Reuters

Ukraine is winning the battle for hearts and minds as it fends off Russian forces on the ground, according to experts who spoke with CNBC.

Savvy social media use by Ukrainians and their leaders including President Volodymyr Zelenskyy has helped rally support behind the country's cause and shown the reality of the conflict.

Winning the information war has tangible impacts on the ground effort. Those include boosting morale among Ukrainian fighters, gaining support for aggressive sanctions against Russia from the West and planting seeds of doubt and opposition within Russia.

Meanwhile, Russia's disinformation campaign seems aimed primarily at quelling opposition within as well as demoralizing Ukrainian fighters, according to experts. But if the conflict drags on, the toll of the war will likely become harder to conceal.

— Lauren Feiner

Google extends Russian state media ban to its 'news' products

Google said Tuesday Russian state-funded media sites will no longer be "eligible" to appear in Google News.

The ban will extend to Google's popular website features like "Top Stories" and "News" tab, the company confirmed to CNBC Tuesday. Google is the world's most-used search engine, which many people use as their source of information regarding current events as well as the Russian invasion in Ukraine.

Earlier Tuesday, the search giant announced its video streaming site YouTube will block channels across Europe related to RT and Sputnik, two of the largest Russian-controlled media organizations.

In most cases, the company has warned that it takes some time before the changes take effect. In some cases over the past week, it's taken a few days for a change to take effect. 

Tech officials have been under pressure to curb the spread of misinformation related to Russia's invasion of Ukraine. Global leaders have also been calling on the companies to restrict or ban Russian access to the apps.

—Jennifer Elias

Nike restricts online sales in Russia

Nike is the latest company to announce changes to its operations in Russia following the country's attack on Ukraine.

Visitors to the apparel maker's Russian website were greeted with this message Tuesday: "Nike currently cannot guarantee product delivery to purchasers in Russia. Therefore, purchases on the Nike.com website and Nike app are temporarily unavailable in this region."

Customers were then directed to their nearest Nike store.

Up until now, Nike officials have not addressed Russia's unprovoked invasion of Ukraine. The trade group Footwear Distributors and Retailers in America reports that Nike predicted Russia would soon account for $1 billion of its annual sales.

The retailer has more than 100 Nike stores in the Russian Federation.

—Jessica Golden

Ford suspends Russian operations

The 111,111th Ford Transit car manufactured at the Ford Sollers car factory in the town of Yelabuga in Russia's Republic of Tatarstan.
Yegor Aleyev | TASS | Getty Images

Ford Motor on Tuesday said it is suspending its operations in Russia, effective immediately, until further notice.

The Detroit automaker has largely wound down its Russian business in recent years. It continues to produce and sell commercial vans produced at a plant in Yelabuga through a joint venture with Russia-based Sollers.

"As part of the global community, Ford is deeply concerned about the invasion of Ukraine and the resultant threats to peace and stability. The situation has compelled us to reassess our operations in Russia," Ford said in a statement. "Given the situation, we have today informed our JV partners that we are suspending our operations in Russia, effective immediately, until further notice."

The Ford Sollers Elabuga assembly plant employs about 1,300 people, according to Ford.

— Michael Wayland

U.S. stocks tumble as Russia presses attack on Ukraine

Trader Peter Tuchman works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 1, 2022.
Brendan McDermid | Reuters

U.S. stocks dropped Tuesday as investors eyed Russia's invasion of Ukraine.

All three major U.S. indexes fell by more than 1.5%.

The tumble came as the invasion contributed to oil prices surging to their highest level in seven years.

— Jesse Pound and Maggie Fitzgerald

Apple halts product sales in Russia

New Apple iPhone 13 smartphones on display in the re:Store shop. The iPhone 13 went on sale in Russia on 24 September.
Artyom Geodakyan | TASS | Getty Images

Apple has stopped selling its products through the Apple Store in Russia, the company confirmed on Tuesday.

All Apple products on the company's Russian storefront are listed as "unavailable" for purchase or delivery in the country.

"We have taken a number of actions in response to the invasion. We have paused all product sales in Russia. Last week, we stopped all exports into our sales channel in the country," an Apple spokesman told CNBC.

Apple also said it removed Russian state media outlets RT News and Sputnik News from its App Store outside of Russia.

— Kif Leswing

Biden and Zelenskyy discussed aid to Ukraine, sanctions, Russian attacks on civilian sites

Ukrainian President Volodymyr Zelenskiy talks during an interview with Reuters after Russia's invasion of Ukraine, in Kyiv, Ukraine, March 1, 2022.
Umit Bektas | Reuters

President Joe Biden in a call with Ukraine President Volodymyr Zelenskyy reaffirmed U.S. support for Ukraine and discussed the latest updates in Russia's invasion of the country, the White House said.

Biden "underscored the United States' sustained help for Ukraine, including ongoing deliveries of security assistance, economic support, and humanitarian aid," according to a White House readout of the call, which lasted just over 30 minutes.

"The leaders discussed how the United States, along with Allies and partners, is working to hold Russia accountable, including by imposing sanctions that are already having an impact on the Russian economy," the Biden administration said.

"The leaders discussed Russia's escalation of attacks on sites used by civilians in Ukraine, including today's bombing near Babyn Yar Holocaust memorial," the White House said.

Zelenskyy revealed his call with Biden earlier Tuesday, thanking him for supporting Ukraine with U.S. defense assistance and anti-Russian sanctions.

Kevin Breuninger

U.S. to release 30 million barrels of oil as prices spike

A driver removes a gas nozzle at a Shell gas station in San Francisco, California, U.S., on Friday, Feb. 25, 2022.
David Paul Morris | Bloomberg | Getty Images

The U.S. and other countries are releasing oil reserves to try to offset a supply hit from Russia's invasion of Ukraine.

The governing board countries of the International Energy Agency announced Tuesday that they would release 60 million barrels of oil reserves. The White House said 30 million of those barrels would come from the U.S. Strategic Petroleum Reserve.

Oil prices have trended higher in recent months but have spiked since Russia attacked its neighbor. Futures for West Texas Intermediate crude hit $106 per barrel on Tuesday, putting the U.S. benchmark at its highest level in seven years.

The U.S. also released oil reserves in November in an attempt to stem rising prices.

Jesse Pound

Russian police crack down on anti-war protesters

Police cracked down on Russian anti-war protesters in central Saint Petersburg.

Demonstrator stands on her knees during a protest against Russia's invasion of Ukraine in central Saint Petersburg on March 1, 2022.
Olga Maltseva | AFP | Getty Images
Police officers detain a demonstrator during a protest against Russia's invasion of Ukraine in central Saint Petersburg on March 1, 2022.
Olga Maltseva | AFP | Getty Images
Police officers detain a demonstrators during a protest against Russia's invasion of Ukraine in central Saint Petersburg on March 1, 2022.
Olga Maltseva | AFP | Getty Images

— Adam Jeffery

German Red Cross prepares humanitarian shipments to aid Ukrainian refugees

The German Red Cross worked to send shipments to help with the growing refugee crisis sparked by Russia's invasion of Ukraine.

The relief supplies will go to Poland, where they will be distributed to Ukrainians fleeing their homes. Aid will also go to people in Ukraine itself.

A truck is parked at the logistics center of the German Red Crossand is being loaded with relief supplies by employees. The relief supplies are being trucked to Poland, where they will be distributed to Ukrainians fleeing their homes as well as to people in Ukraine itself. In view of the fighting in Ukraine, more and more Ukrainians are fleeing to neighboring countries.
Annette Riedl | Picture Alliance | Getty Images
Relief goods for Ukrainian refugees are prepared by members of the German Red Crossbefore being transported to the Polish border in Schoenefeld near Berlin on March 1, 2022.
Tobias Schwarz | AFP | Getty Images
Members of the German Red Crossprepare relief shipments for Ukrainian refugees to the Polish border in Schoenefeld near Berlin on March 1, 2022.
Tobias Schwarz | AFP | Getty Images
Personnel load a truck with relief supplies at the logistics center of the German Red Cross.
Annette Riedl | Picture Alliance | Getty Images
A truck stands at the logistics center of the German Red Crossand is loaded with relief supplies by employees. In view of the ongoing and expanding hostilities in Ukraine, the need for humanitarian aid in the country, but also in neighboring countries to which people are fleeing from Ukraine, is becoming ever greater.
Annette Riedl | Picture Alliance | Getty Images

— Adam Jeffery

Facebook will demote and label posts linking to Russian state media

CEO and co-founder of Facebook Mark Zuckerberg poses next to Facebook head of global policy communications and former UK deputy prime minister Nick Clegg (L) prior to a meeting with French President at the Elysee Palace in Paris, on May 10, 2019.
Yoah Valat | AFP | Getty Images

Meta said on Tuesday that it will begin to demote Facebook and Instagram posts linking to Russian state media such as RT and Sputnik so they show up in news feeds less often.

In the coming weeks, Facebook will also start to add labels to posts linking to Russian-backed media websites highlighting that the links go to state media, Meta President of Global Affairs Nick Clegg said on a call with reporters.

"I can also confirm we are demoting content from Facebook pages and Instagram accounts from Russian state-controlled media outlets, and we are making them harder to find across our platforms," Clegg said. "We've also begun to demote posts that contain links to Russian state-controlled media websites on Facebook."

The restrictions are global, and aren't limited to a particular region, Clegg said.

Facebook's announcement on Tuesday highlights the difficult balancing act that American internet companies like Meta face during the Russian invasion of Ukraine. The crisis has also underscored the challenges that state-backed media companies pose to social media, which want to permit broad speech but also need to restrict state-backed propaganda, especially during a conflict.

— Kif Leswing

Oil price blitz continues as crude futures top $106 a barrel, threaten to top 2014 high

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Traders rushed to snap up oil contracts on Tuesday and pushed the price of West Texas crude for April delivery over $106.40 per barrel, a jump of over 11% and the highest price since June 2014.

The dash for oil contracts threatened to push the price of oil beyond those 2014 highs as Russia's assault on the Ukrainian capital of Kyiv intensified.

Thomas Franck

UN requests $1.7 billion in aid for Ukrainian refugees

People wait to board an evacuation train from Kyiv to Lviv at Kyiv central train station following Russia's invasion of Ukraine, in Kyiv, Ukraine March 1, 2022.
Umit Bektas | Reurters

The United Nations on Tuesday asked for $1.7 billion in aid to help Ukrainian refugees and offer humanitarian support across the nation.

It has become increasingly difficult for people to access essential services and supplies as Russia escalates its attack on its neighbor, the U.N. said in a blog post.

United Nations Secretary General Antonio Guterres speaks during the 11th emergency special session of the 193-member U.N. General Assembly on Russia's invasion of Ukraine, at the United Nations Headquarters in Manhattan, New York City, New York, U.S. February 28, 2022.
Carlo Allegri | Reuters

The organization said it expected 12 million people inside the country to need relief and protection as of Tuesday. It also said more than 4 million Ukrainian refugees may seek protection and aid from neighboring countries in the coming months.

More than 500,000 refugees have fled Ukraine so far.

"I urge the international community to respond to these life-saving appeals," U.N. Secretary-General Antonio Guterres said in a tweet.

—Jessica Bursztynsky

Ukraine President Zelenskyy says he spoke to Biden about anti-Russia sanctions

Ukrainian President Volodymyr Zelenskiy talks during an interview with Reuters after Russia's invasion of Ukraine, in Kyiv, Ukraine, March 1, 2022.
Umit Bektas | Reuters

Ukraine President Volodymyr Zelenskyy said in a tweet that he spoke to President Joe Biden about U.S. sanctions on Russia in response to its invasion of Ukraine.

Biden, who is preparing to deliver his state of the union address this evening, and Zelenskyy, who is leading his country's resistance to Russia from a bunker in Kyiv, also discussed U.S. defense assistance to Ukraine, Zelenskyy tweeted.

"We must stop the aggressor as soon as possible. Thank you for your support!" Zelenskyy's tweet said.

A White House spokesman did not immediately respond to CNBC's request for additional comment on the tweet.

Kevin Breuninger

Photos show pro-Russian troops deployed in Donetsk region

Pro-Russian troops gathered in the separatist-controlled settlement of Mykolaivka (Nikolaevka) in the Donetsk region as Russia's invasion of Ukraine continued on Tuesday.

Service members of pro-Russian troops in uniforms without insignia gather in the separatist-controlled settlement of Mykolaivka (Nikolaevka), as Russia's invasion of Ukraine continues, in the Donetsk region, Ukraine March 1, 2022.
Alexander Ermochenko | Reuters
Service members of pro-Russian troops in uniforms without insignia gather around a fire in the separatist-controlled settlement of Mykolaivka (Nikolaevka), as Russia's invasion of Ukraine continues, in the Donetsk region, Ukraine March 1, 2022.
Alexander Ermochenko | Reuters
A service member is seen atop of a tank while pro-Russian troops gather in the separatist-controlled settlement of Mykolaivka (Nikolaevka), as Russia's invasion of Ukraine continues, in the Donetsk region, Ukraine March 1, 2022.
Alexander Ermochenko | Reuters
Service members of pro-Russian troops in uniforms without insignia gather in the separatist-controlled settlement of Mykolaivka (Nikolaevka), as Russia's invasion of Ukraine continues, in the Donetsk region, Ukraine March 1, 2022.
Alexander Ermochenko | Reuters
Pro-Russian separatists are seen next to an abandoned tank on a road between the separatist-controlled settlements of Mykolaivka (Nikolaevka) and Buhas (Bugas), as Russia's invasion of Ukraine continues, in the Donetsk region, Ukraine March 1, 2022.
Alexander Ermochenko | Reuters

— Adam Jeffery

Refugees flee Ukraine as Russian attack continues

More than 500,000 refugees have fled Ukraine, pouring into Poland, Slovakia, Hungary, Romania and Moldova.

A woman cries next to her children after fleeing from Russia's invasion of Ukraine, at the border crossing in Siret, Romania, February 28, 2022.
Stoyan Nenov | Reuters
People who have fled Russia's invasion of Ukraine wait at the Shehyni border crossing to enter Poland, near Mostyska, Ukraine, on March 1, 2022.
Thomas Peter | Reuters
An elderly woman from Pakistan sits at the border crossing in Medyka, eastern Poland as refugees continue to arrive from Ukraine on March 1, 2022.
Wojtek Radwanski | AFP | Getty Images
People fleeing Russian invasion of Ukraine arrive at a temporary camp in Przemysl, Poland, February 28, 2022. i
Yara Nardi | Reuters
A woman fleeing Russian invasion of Ukraine hugs a child at a temporary camp in Przemysl, Poland, February 28, 2022.
Yara Nardi | Reuters
A refugee child fleeing from Ukraine gestures when waiting for transport at Nyugati station, after Russia launched a massive military operation against Ukraine, in Budapest, Hungary, February 28, 2022.
Marton Monus | Reuters

— Adam Jeffery

More than 80% of the Russian troops once along Ukraine's borders are now fighting in the country

A view shows a military convoy of armed forces of the separatist self-proclaimed Luhansk People's Republic (LNR) on a road in the Luhansk region, Ukraine February 27, 2022.
Alexander Ermochenko | Reuters

A U.S. Defense official said Tuesday that more than 80% of the Russian troops once positioned along Ukraine's borders are now fighting in the country.

The official, speaking on the condition of anonymity, declined to comment on Russian troops that have not crossed into Ukraine.

The person also said that the Pentagon has no indications that Belarussian troops have entered Ukraine.

—  Amanda Macias

Ukraine says Russia has struck a TV tower in Kyiv

Smoke billows over Kyiv after a missile attack targeting the Ukrainian capitals television tower in Kyiv on March 1, 2022.
Aris Messinis | AFP | Getty Images

Russian forces have struck a TV tower in Kyiv, Ukraine said.

Ukraine's Defense Ministry warned that television channels will temporarily stop working, but backup broadcasts may return shortly, according to a translation of a tweet from the agency's official account.

A senior U.S. Defense official appeared to reference the reported attack in Ukraine's capital on Tuesday. The person told reporters, "We've seen open press images of at least one strike on a government building in Kyiv. But that's the only one that I'm aware of."

The alleged strike comes as recent satellite imagery appearing to show a miles-long convoy of Russian military forces headed toward Kyiv has spread fears that the capital city could soon become the arena for a major battle.

Kevin Breuninger

Russia's human rights abuses in Ukraine are mounting by the hour, Blinken warns

U.S. Secretary of State Antony Blinken appears on a screen as he delivers a speech during the 49th session of the UN Human Rights Council at the European headquarters of the United Nations in Geneva, Switzerland, March 1, 2022.
Salvatore Di Nolfi | Reuters

Secretary of State Antony Blinken warned Tuesday that Russia's human rights abuses in Ukraine are mounting by the hour. 

"Russian strikes are hitting schools, hospitals, and residential buildings. They are destroying critical infrastructure, which provides millions of people across Ukraine with drinking water, gas to keep them from freezing to death, and electricity," Blinken said in a speech delivered virtually to the U.N. Human Rights Council.

Blinken said that so far more than half a million Ukrainians have fled the country "including children, the elderly and people with disabilities who are making harrowing journeys through conflict zones."

—  Amanda Macias

Adidas suspends its partnership with the Russian Football Union

A picture shows the new Adidas-designed jerseys of the Russian national football team at an official Adidas store in Moscow on November 13, 2019.
Kirill Kudryavtsev | AFP | Getty Images

Adidas will suspend its partnership with the Russian Football Union, the company told CNBC on Tuesday.

Adidas provided kits for both the Russian men's and women's national teams. The German company has served as Russia's official kit sponsor since 2008, and the partnership was extended in May 2018.

The decision follows moves by other companies and sports leagues, including international football governing body FIFA, to cut ties with Russia following its invasion of Ukraine.

The Russian market accounted for about 2.9% of Adidas sales at the end of 2020, the last time the company disclosed sales for the region.

— Jessica Golden

U.S. moves more troops to Germany

U.S. soldiers lined up at Albrecht Dürer Airport in Nuremberg, Germany next to a Boeing 767-300 that just landed.

Two hundred U.S. soldiers are being transferred from Nuremberg to the 7th Army Training Command in Grafenwoehr in southeast Germany.

U.S. soldiers lined up at Albrecht Dürer Airport next to a Boeing 767-300 that has just landed. 200 U.S. soldiers, who are being transferred from Nuremberg to the 7th Army Training Commandin Grafenwoehr, landed in Nuremberg coming from the United States.
Karl-Josef Hildenbrand | Picture Alliance | Getty Images
U.S. soldiers leave a Boeing 767-300 that has just landed at Albrecht Dürer Airport.
Karl-Josef Hildenbrand | Picture Alliance | Getty Images
U.S. soldiers lined up at Albrecht Dürer Airport next to a Boeing 767-300 that has just landed.
Karl-Josef Hildenbrand | Picture Alliance | Getty Images

— Adam Jeffery

Russia issues warning over plans for targeted strikes in Kyiv

A view shows a destroyed bridge, as Russia's invasion of Ukraine continues, near the town of Bucha in the Kyiv region, Ukraine February 28, 2022.
Maksim Levin | Reuters

Russia's Defense Ministry warned on Tuesday that it is planning to fire precision weapons at key military infrastructure in Ukraine's capital, Kyiv.

Russian state-controlled media claimed that cyberattacks on Moscow had been carried out from the military buildings the Kremlin plans to target.

Infrastructure being targeted includes the Security Service of Ukraine's technological facilities and the 72nd main center of psychological and information operations in Kyiv, according to Russia state media.

— Chloe Taylor

Oil pops to 7-year high, wheat futures soar to highest since 2008 and again hit 'limit up' max

A worker stacks oil barrels at a filling station in n Chennai on February 24, 2022.
Arun Sankar | AFP | Getty Images

The worsening crisis in Ukraine sent crude oil and wheat contracts soaring to multiyear highs on Tuesday as traders grew worried about grain and energy supplies thanks to the Russian invasion.

West Texas Intermediate crude futures, the U.S. oil benchmark, leaped 5.7% to trade at $101.17 a barrel. That price is the highest for WTI crude since 2014.

Traders also bid up the price of wheat contracts given that Ukraine and Russia combined account for about 25% of global wheat exports. In fact, wheat's Tuesday rally was so powerful that it hit the maximum upward move allowed by the exchange.

Benchmark wheat contracts for May delivery soared by the 50-cent limit to $9.84 a bushel, the highest since 2008, adding to the commodity's 22.6% jump in February. February was wheat's strongest monthly performance since June 2015.

Thomas Franck

Rubio: More economic punishment needed for Putin

VIDEO5:4305:43
There's no way Russia's Putin wins, even if he defeats Ukrainian military, says Sen. Rubio

The world should keep up the already-intense economic pressure against Vladimir Putin's Russia over its invasion of Ukraine, Sen. Marco Rubio, R-Fla., said on CNBC's "Squawk Box."

"We've got to continue to impose a price on him for doing this. This has to be the most expensive adventurism in the modern history of the world, because if it isn't, he'll keep doing it," said Rubio, vice chairman of the Select Intelligence Committee and ranking member of a foreign relations subcommittee, on CNBC.

Rubio accused Russia of "committing war crimes" and warned that as Russian troops advance toward major Ukrainian cities, "we're going to see some really horrifying things here over the next few days."

"The world needs to see, and Putin needs to learn, that if he does this kind of thing the price they will pay is devastating, and some of that is already happening," the senator said.

"Where is Russia's economy headed? A week from now, they're headed to third-world territory in terms of the damage they're suffering," Rubio said. "We need to make sure those things are sustained."

Kevin Breuninger

Russia-Ukraine talks reportedly set to resume on Wednesday

Russian and Ukrainian officials take part in the talks in the Gomel region, Belarus February 28, 2022.
Sergei Kholodilin | Reuters

A fresh round of talks between Ukrainian and Russian officials is reportedly scheduled for March 2, Russian state-run media has said.

Delegations from both countries met for talks on Monday near Ukraine's border with Belarus, an ally of Moscow.

But fighting continued across Ukraine on Tuesday, with the government reporting explosions and casualties as a huge Russian convoy appeared to be heading toward Ukraine.

— Chloe Taylor

Russian missile strikes hit Kharkiv

The images below show the destruction of the center of Kharkiv after a missile strike.

This general view shows the damaged local city hall of Kharkiv on March 1, 2022, destroyed as a result of Russian troop shelling.
Sergey Bobok | AFP | Getty Images
This photograph shows a view of a school destroyed as a result of fight not far from the centre of Ukrainian city of Kharkiv, located some 50 km from Ukrainian-Russian border, on February 28, 2022.
Sergey Bobok | AFP | Getty Images
An armed man is seen inside the damaged local city hall of Kharkiv on March 1, 2022, destroyed as a result of Russian troop shelling.
Sergey Bobok | AFP | Getty Images
A view of damaged Kharkiv governor's office is seen after Russian army's missile attack in Kharkiv, Ukraine on March 01, 2022.
State Emergency Service of Ukraine | Anadolu Agency | Getty Images

France deploys more troops to Romania and Poland

France is sending more troops to Romania and Poland to bolster NATO defense efforts.

French soldiers of the 27th Bataillon des chasseurs alpins queue as they board an Airbus A330 MRTT at the French air force base of Istres, southern France on March 1, 2022, before taking off for Romania.
Nicolas Tucat | AFP | Getty Images
French soldiers of the 27th Bataillon des chasseurs alpins board an Airbus A330 MRTT at the French air force base of Istres, southern France on March 1, 2022, before taking off for Romania.
Nicolas Tucat | AFP | Getty Images
A Rafale fighter jet pilot inspects his aircraft prior to taking off for a daily NATO border watch mission sortie over Poland at the Mont-de-Marsan airbase, southwestern France, on March 1, 2022.
Philippe Lopez | AFP | Getty Images
French soldiers of the Infantry Regimentstand in line as they prepare to leave for Romania, at the Caserne Brune et Laporte base in Brive-la-Gaillarde, central France, on March 1, 2022.
Thibaud Moritz | AFP | Getty Images

YouTube will block Russia's Sputnik and RT channels

Google-owned YouTube announced Tuesday it will block channels related to RT and Sputnik, two of the largest Russian-controlled media organizations, across Europe.

The move builds on the company's demonetization of Russian state-funded media.

"Our teams are working around the clock to support people in Ukraine through our products, defend against cybersecurity threats, surface high-quality, reliable information and ensure the safety and security of our colleagues and their families in the region," Kent Walker, president of global affairs, said in a blog post.

YouTube's move to block the Russian channels comes a day after Facebook-parent Meta announced similar actions against the two companies.

Tech officials have been under pressure to curb the spread of misinformation related to Russia's invasion of Ukraine. Global leaders have also been calling on the companies to restrict or ban Russian access to the apps.

—Jessica Bursztynsky

Ukraine welcomes SpaceX's Starlink satellite-internet dishes

A shipment of SpaceX's Starlink satellite-internet dishes arrived in Ukraine on Monday, less than 48 hours after CEO Elon Musk announced the company would send support.

Ukraine digital minister Mykhailo Fedorov, who tagged Musk in a request on Twitter on Saturday, posted that Starlink was "here" in Ukraine. He shared a photo showing more than two dozen boxes of the company's user kits in the back of a truck.

Musk responded via Twitter: "you are most welcome."

 It's not known how many kits SpaceX is sending to support Ukraine.

— Michael Sheetz

Ukraine foreign minister: Accepting Ukraine ‘best decision EU can make’

Following fresh calls from Ukrainian President Volodymyr Zelenskyy for the EU to accept Ukraine as a new member state, Ukrainian Foreign Minister Dmytro Kuleba said such a move would be "the best decision the EU can make now."

Russia planning disinformation campaign staging Kyiv’s surrender, Ukraine warns

This general view shows the damaged local city hall of Kharkiv on March 1, 2022, destroyed as a result of Russian troop shelling.
Sergey Bobok | AFP | Getty Images

Ukraine has warned that Moscow is preparing to launch a large-scale disinformation campaign, which will claim Kyiv's political and military leadership has surrendered to Russia.  

"To 'confirm' this fake information, seemingly signed 'documents', as well as fake, edited videos will be distributed," Ukrainian Defense Minister Oleksii Reznikov said in a statement translated by Reuters.   

Chloe Taylor

Volunteers make camouflage nets for the Ukrainian military

The images below from Tuesday show volunteers making camouflage nets for the Ukrainian military at a library in the western Ukrainian city of Lviv.

Volunteers make camouflage nets for the Ukrainian military at a library in western Ukrainian city of Lviv on March 1, 2022.
Yuriy Dyachyshyn | AFP | Getty Images
Volunteers make camouflage nets for the Ukrainian military at a library in western Ukrainian city of Lviv on March 1, 2022.
Yuriy Dyachyshyn | AFP | Getty Images
Volunteers make camouflage nets for the Ukrainian military at a library in western Ukrainian city of Lviv on March 1, 2022.
Yuriy Dyachyshyn | AFP | Getty Images

Members of the European Parliament applaud Ukraine's Zelenskyy

Members of the European Parliament applauded Ukrainian President Volodymyr Zelenskyy who appeared on a screen while he spoke via video conference.

The special plenary session of the parliament, at the EU headquarters in Brussels, focused on the Russian invasion of Ukraine.

Members of the European Parliament applaud Ukrainian President Volodymyr Zelenskyy who appears on a screen as he speaks in a video conference during a special plenary session of the European Parliament focused on the Russian invasion of Ukraine at the EU headquarters in Brussels, on March 01, 2022.
John Thys | AFP | Getty Images
Parliament members give a standing ovation after a live video address of Ukrainian President Volodymyr Zelenskyy, during an extraordinary plenary session of the European parliament on Russian invasion of Ukraine, in Brussels, on March 1, 2022.
Jonas Roosens | AFP | Getty Images
European Commission President Ursula von der Leyen applauds Ukrainian President Volodymyr Zelenskyy, who speaks in a video conference during a special plenary session of the European Parliament at the EU headquarters in Brussels on March 1, 2022.
John Thys | AFP | Getty Images

UN says 136 civilians, including 13 children, have died in Ukraine conflict since Thursday

An injured child receives treatment after being wounded in a car during Russian attacks as the six years old sibling was killed, Kyiv, Ukraine on February 28, 2022.
Aytac Unal | Anadolu Agency | Getty Images

The U.N. has recorded 536 civilian casualties in Ukraine since Feb. 24, 136 of which were fatalities.

Liz Throssell, a spokesperson for the U.N. Human Rights Office, told reporters on Tuesday that between Thursday and Monday, hundreds of civilians had been hurt in the conflict.  

"Between 24 February morning and midnight last night, our Office has recorded 536 civilian casualties in Ukraine," she said. "These include 136 civilians killed, including 13 children, and 400 civilians injured, among them 26 children."

Throssell added that most of the casualties had been caused by the use of explosive weapons with a wide impact area, including shelling from heavy artillery and multi-launch rocket systems, and air strikes.

"These are only the casualties we have managed to cross-check, and the real toll may be much higher," she told the news conference.

— Chloe Taylor

Zelenskyy: EU will be stronger with Ukraine

European Commission President Ursula von der Leyen applauds Ukrainian President Volodymyr Zelenskyy, who speaks in a video conference during a special plenary session of the European Parliament at the EU headquarters in Brussels on March 1, 2022.
John Thys | AFP | Getty Images

Ukrainian President Volodymyr Zelenskyy has appealed again to EU lawmakers to allow Ukraine to join the 27-member bloc.

"We are fighting for our rights, for our freedom, for our lives, and now we are fighting for our survival," Zelenskyy said in a video link address to the European Parliament on Tuesday. "We have a desire to see our children alive — it is a fair one."

The Ukrainian leader said 16 children had been killed in the conflict on Monday.

"We also fight to be equal members of Europe, and I believe that today we demonstrate to everybody that we are Europeans and together with us, the EU will be stronger," he said.

"Without [the EU] Ukraine will be alone," Zelenskyy added. "We proved that we are strong, we proved that we are at least the same as Europe. Please prove you are together with us, and then life will conquer death."

Zelenskyy said that while he was happy to see European officials united against the Russian attack on Ukraine, his country was still suffering "tragedy" and "shellings all the time."

But he was defiant, adding: "Despite the fact that all our largest cities are blocked, nobody shall occupy our country. Nobody will break us because we are Ukrainians."

Members of the European Parliament gave Zelenskyy a standing ovation after his address.

— Chloe Taylor

NATO chief reiterates that alliance won't wade into Ukraine conflict

NATO Secretary-General Jens Stoltenberg holds a news conference on Russia's attack on Ukraine, in Brussels, Belgium February 24, 2022.
Yves Herman | Reuters

NATO Secretary General Jens Stoltenberg reiterated Tuesday that the military alliance will steer clear of sending armed support to aid Ukraine as it fights to fend off Russia's invasion.

Speaking during a press event with Polish President Andrzej Duda, Stoltenberg said that the North Atlantic Treaty Organization is designed to protect member countries. Ukraine, which is not a member of NATO, has received supplies and munitions from several countries.

The U.S. and many NATO members are also helping Ukraine with severe economic sanctions against Moscow.

"NATO is a defensive alliance: We do not seek conflict with Russia," Stoltenberg said from Poland's Lask Air Base. "NATO is not going to be part of the conflict. So, NATO is not going to send troops into Ukraine, or move planes into Ukrainian airspace."

For his part, Duda said Poland would also abstain from sending fighter jets into Ukraine.

"We are not sending any jets to Ukraine because that would open military interference in the Ukrainian conflict. We are not joining that conflict," he said, according to a translation. "NATO is not a party to that conflict."

"However, as I said, we are supporting Ukrainians with humanitarian aid," he continued. "However, we are not going to send any jets to the Ukrainian airspace."

Thomas Franck

Governments express solidarity with Ukraine, urge Russia to end the conflict

Belgian Foreign Minister Sophie Wilmes delivers a remote speech at the opening of a session of the U.N. Human Rights Council in Geneva on February 28, 2022.
Fabrice Coffrini | Afp | Getty Images

Governments have expressed solidarity with Ukraine and called on Russian President Vladimir Putin to end its invasion of the country.

Delegates from all over the world gathered in Geneva, Switzerland, on Tuesday for the second day of a meeting of the U.N.'s Human Rights Council.

Officials from many countries, including Romania, Denmark, Cyprus, Austria and the EU, condemned Russia's invasion of Ukraine and urged Putin to withdraw his troops from the country.

"We are gravely worried about indiscriminate attacks on civilian areas causing loss of life and substantial damage of civilian infrastructure such as hospitals," Cornel Feruta, Romanian global affairs and diplomatic strategies minister, said in an address to the council.

He called on Russia to end its attack on Ukraine, which he said has violated international law.

"We have taken measures to prepare for increasing flow of people," Feruta added. "The numbers are growing daily."

Thousands of Ukrainians are reported to have fled to Romania since Russia launched its attack last week.

Jeppe Kofod, Danish foreign minister, told the council, "we are all devastated" by the attack, adding that the conflict served no purpose but "a naked quest for power."

Many officials also condemned the arrests of anti-war protesters in Russia, and called for their immediate release.

— Chloe Taylor

Diplomats walk out of U.N. meeting as Russia’s Lavrov takes the stage

Western diplomats walked out of the U.N.'s Human Rights Council meeting in Geneva on Tuesday as Russian Foreign Minister Sergey Lavrov began his address.

Ambassadors and diplomats leave while Russia's foreign minister Sergei Lavrovaddresses with a pre-recorded video message at the 49th session of the UN Human Rights Council at the European headquarters of the United Nations in Geneva, Switzerland, Tuesday, March 1, 2022.
Salvatore Di Nolfi | AFP | Getty Images
Geneva, March 1, 2022: Ambassadors and diplomats walk out of the U.N. Human Rights Council meeting as Russian Foreign Minister Sergei Lavrov's pre-recorded video message begins to play.
Fabrice Coffrini | AFP | Getty Images
Geneva, March 1, 2022: Ambassadors and diplomats walk out of the U.N. Human Rights Council meeting as Russian Foreign Minister Sergei Lavrov's pre-recorded video message begins to play.
Fabrice Coffrini | AFP | Getty Images
Geneva, March 1, 2022: Ambassadors and diplomats walk out of the U.N. Human Rights Council meeting as Russian Foreign Minister Sergei Lavrov's pre-recorded video message begins to play.
Fabrice Coffrini | AFP | Getty Images
Geneva, March 1, 2022: Ambassadors and diplomats walk out of the U.N. Human Rights Council meeting as Russian Foreign Minister Sergei Lavrov's pre-recorded video message begins to play.
Fabrice Coffrini | AFP | Getty Images

Lavrov, speaking via video link, said he had hoped to attend the meeting in person but had been prohibited from doing so.

EU, U.S. and British diplomats were among those who left, Reuters reported.

During his address, Lavrov made unsubstantiated claims about the Ukrainian government and neo-Nazism, which have been made repeatedly by Russian officials in recent weeks. Western countries have dismissed those claims. Ukraine's President, Volodymyr Zelenskyy, is Jewish.

— Chloe Taylor

Hungary supports granting Ukraine EU membership

Ukrainian President Volodymyr Zelenskyy signs the country's application for membership in the European Union in Kyiv, Ukraine on February 28, 2022.
Ukrainian Presidency | Anadolu Agency | Getty Images

Hungarian Foreign Minister Peter Szijjarto told reporters on Tuesday that Hungary supported Ukraine's bid to become an EU member, according to Reuters.

The leaders of eight EU countries — Bulgaria, the Czech Republic, Estonia, Latvia, Lithuania, Poland, Slovakia and Slovenia — said in an open letter on Monday that Ukraine deserves to receive immediate accession to the bloc, calling on fellow member states to begin the negotiation process.

"Hungary backs this initiative and we urge Brussels to put the issue on the agenda," Szijjarto said Tuesday, referring to the letter published a day earlier.

Ukrainian President Volodymyr Zelenskyy will address the EU Parliament today, a day after asking the union to grant Ukraine immediate accession to the EU.

— Chloe Taylor

Ukraine’s Zelenskyy to address EU Parliament

Flags of European Union and Ukraine flutter outside EU Parliament building, in Brussels, Belgium, February 28, 2022.
Yves Herman | Reuters

Ukrainian President Volodymyr Zekenskyy will address the EU Parliament via video link later today.

EU lawmakers are due to discuss the latest on the Russian invasion of Ukraine at 12.30 p.m. Brussels time (6.30 a.m. ET) and Zelensky will join the debate soon after.

Zelenskyy appealed to the EU on Monday to grant Ukraine immediate accession to the 27-member bloc.

Polish Prime Minister Mateusz Morawiecki is set to meet with EU Commission President Ursula von der Leyen on Tuesday to discuss potential EU membership for Ukraine, a Polish government spokesman said today.

— Silvia Amaro and Chloe Taylor

The EU and U.S. will 'provoke the collapse of the Russian economy': French finance minister

French Economy and Finance Minister Bruno Le Maire speaks during a press conference in Paris on January 14, 2021.
THOMAS COEX | AFP | Getty Images

The U.S. and EU are carrying out an "economic war" against Russia over its unprovoked invasion of Ukraine, France's Finance Minister Bruno Le Maire has said in an interview with radio station France Info.

"There is a question of principles," Le Maire said Tuesday, as he referenced upcoming discussions with major French energy companies TotalEnergies and Engie about their business in Russia. He said he would discuss the issue of divesting from Russia with those companies' bosses.

The economic war against Russia unleashed by Western countries would "provoke the collapse of the Russian economy," Le Maire said. Already several French companies have halted their business in Russia, including its partially state-owned automaker Renault.

—Natasha Turak

Ukraine conflict to hamper UK growth and deepen cost of living crisis, Credit Suisse says

Pensioners protest over rising fuel prices at a demonstration outside Downing street called by The National Pensioners Convention and Fuel Poverty Action on February 7, 2022 in London, England.
Guy Smallman | Getty Images

Economists at Credit Suisse have downgraded their forecasts for U.K. GDP growth in light of Russia's attack on Ukraine.

In a note on Monday, the bank said it had downgraded its U.K. GDP growth forecast for 2022 from 4.3% to 4.0%, and upgraded its 2022 inflation forecast for the U.K. from 6.3% to 6.7%.

"The main channel through which this invasion is likely to affect the UK economy is from higher energy prices," Credit Suisse's Sonali Punhani and Neville Hill said. "High gas prices over the last few months have already dampened the economic outlook."

Prior to Russia's invasion of Ukraine, Britain was already facing a cost of living crisis thanks to surging inflation and soaring energy costs.

"This invasion increases the risk that consumer gas bills rise again in October 2022, when [energy regulator] Ofgem updates its price cap once again, worsening the cost of living squeeze," Punhani and Hill said.  

"This means U.K. consumer real incomes can fall by almost 2.5% in 2022 … if these energy prices are sustained," they added.

— Chloe Taylor

A huge Russian convoy appears to be heading for Kyiv

Satellite images from Maxar Technologies taken on Feb. 28 appear to show a convoy of Russian vehicles advancing on Ukraine's capital Kyiv. The firm says these images show the northern end of the convoy, with logistics and resupply vehicles. Satellite image (c) 2022 Maxar Technologies.
Maxar Technologies | Getty Images

Russia appears to be advancing in its invasion of Ukraine with satellite imagery indicating that a huge convoy — some 40 miles or 65 kilometers long — of Russian military vehicles is heading towards Ukraine's capital Kyiv.

Satellite images taken by U.S firm Maxar Technologies on Monday appear to show a convoy of Russian armored tanks and trucks that stretches from Pybirsk, further north of Kyiv, to the Antonov airport (also known as the Hostemel airport — the site of fighting last week between Russian and Ukrainian forces) on the northeast outskirts of the Ukrainian capital.

In some parts of the convoy, the vehicles appear to be traveling three or four abreast on the road. It should be noted that the situation in Ukraine is fast-moving and may now may be different to what is seen in the images.

Official sources have not confirmed the existence of the convoy, but there are fears it suggests that Russia is preparing to launch a full-scale assault on Kyiv, a city it has not yet occupied although there have been skirmishes on the outskirts.

Ukraine's foreign minister told CNBC on Monday that the country "is not ready to surrender or capitulate" to Russia. Whether Ukraine's armed forces, and civilians, could withstand a massive attack should one take place in the coming days is uncertain.

Holly Ellyatt

Volkswagen’s Skoda facing ‘critical supply shortages’ due to Ukraine conflict

Uli Deck | picture alliance | Getty Images

Skoda, the Czech carmaker owned by the Volkswagen Group, said Tuesday that it is facing "critical supply shortages of parts from several local suppliers" due to the conflict in Ukraine.

The supply shortage was impacting production of some of its models, Skoda said in an update to journalists.

"We will limit production of the ENYAQ iV from this week on," Skoda said. "To resolve this situation, our experts work hard finding available alternatives to help prevent adverse production impacts."

Management at both Skoda and the Volkswagen Group are holding discussions on whether to alter business activity in Russia, the company added, noting that Russia is one of Skoda's most important markets globally.

In a separate statement on Tuesday, Skoda said it was "dismayed by the military attack on Ukraine" and hoped for "the swift cessation of hostilities and a speedy return to diplomacy following international law."

— Chloe Taylor

Veteran investor Mark Mobius says if not for bitcoin, Russians would be 'in trouble'

Bitcoin prices surged 10% on Monday as sanctions were imposed on Russian institutions, and veteran investor Mark Mobius said the rally was due to Russians buying up the cryptocurrency.

Mobius said the Russians would be "really in trouble with all the closures of the different avenues for them to transfer money out" if not for bitcoin.

"I would say that's the reason why bitcoin has shown strength now — because the Russians have a way of getting money out, getting their wealth out," said Mobius, founding partner of Mobius Capital Partners.

— Weizhen Tan

Ukraine releases footage of airstrike hitting government building

The State Emergency Services of Ukraine has released footage of an explosion hitting the Regional State Administration building in Kharkiv, the country's second biggest city.

The SES said in a post on its verified Facebook page that there had been several Russian airstrikes this morning, hitting the Kharkiv Regional State Administration, the Opera House, the Philharmonic and part of the city's residential area.

Ukrainian Foreign Minister Dmytro Kuleba, sharing the footage on Twitter, called the attack "barbaric," accusing Russia, again, of war crimes.

"The world can and must do more," he said. "Increase pressure, isolate Russia fully!"

— Chloe Taylor

Polish train station becomes relief center for Ukrainians

CNBC's Steve Sedgwick reports from Przemyśl train station in Poland which has become a relief center for refugees traveling from Ukraine.

VIDEO5:4505:45
Przemysl train station in Poland becomes relief center for Ukrainians

—Matt Clinch

Polish prime minister, EU’s von der Leyen to discuss Ukraine EU membership

Poland's Prime Minister Mateusz Morawiecki (L) and European Commission President Ursula von der Leyen at the European Council Building in Brussels on October 21, 2021.
YVES HERMAN | AFP | Getty Images

Polish Prime Minister Mateusz Morawiecki will meet with EU Commission President Ursula von der Leyen on Tuesday afternoon to discuss potential EU membership for Ukraine.

Piotr Muller, a spokesman for the Polish government, said on Twitter on Tuesday that talks between the two leaders would focus on "systemic support for Ukraine in the context of its membership in the EU."

Ukrainian President Volodymyr Zelenskyy on Monday asked the EU for immediate accession to the bloc under a special procedure.  

Poland, Slovenia and Lithuania have said that the process for Ukraine to join the EU should be sped up by granting it candidacy status — an official recognition that a country wants to join the EU and is doing the necessary reforms to become one.

But one EU official told CNBC on Monday that "these things are very, very long and complex procedures," making it difficult to help Zelenskyy immediately.

— Chloe Taylor

Russia still has room to tighten capital controls to support the ruble, Nomura says

Russia is trying to control the depreciation of its currency and a possible "major step ahead" would be to further tighten capital controls if the country cannot get access to foreign currency funding, said Craig Chan, global head of FX strategy at Nomura Securities.

Moscow has already made that move, but "there's clearly space for more if needed," he told CNBC's "Street Signs Asia" on Tuesday.

"I think that will be something that could provide a bit of backstop for the ruble," he said.

The ruble crashed to an all-time low of 119 per dollar on Monday before paring losses.

— Abigail Ng

Mastercard, Visa take steps to comply with sanctions

Mastercard CEO Michael Miebach said the company has blocked multiple financial institutions from its payment network to comply with sanctions.

In a Monday evening statement, Miebach said Mastercard will continue to work with regulators to ensure compliance. Visa issued a similar statement, pledging to quickly comply with sanctions.

Over the weekend, the U.S., EU, U.K. and Canada agreed to remove certain Russian banks from global interbank messaging system SWIFT.

Both Visa and Mastercard also announced grants to organizations providing humanitarian relief in Ukraine.

— Chelsea Ong, Christine Wang

U.S. Secretary of State Blinken held call with Ukrainian Foreign Minister Kuleba

U.S. Secretary of State Antony Blinken spoke with Ukrainian Foreign Minister Dmytro Kuleba on Monday evening to offer support and condemn reports of Russia's attacks and mounting civilian deaths, according to department spokesperson Ned Price.

He added Blinken emphasized that the U.S. and its allies are united in their resolve to stand with Ukraine and hold the Russian government accountable for its "war of choice."

"The Secretary offered steadfast solidarity with the Ukrainian people, who are bravely resisting and repelling a brutal, premeditated, and unprovoked Russian invasion," the statement said.

— Sumathi Bala

Crypto markets don't have enough liquidity to help Russia evade sanctions, says blockchain intelligence firm

VIDEO3:0903:09
Cryptocurrencies won't be able to help Russia evade sanctions, says TRM Labs

Russia will turn to cryptocurrencies to attempt to evade sanctions as the U.S. and its allies increasingly try to cut Moscow off from the global financial system, according to Ari Redbord of TRM Labs, a blockchain intelligence company.

However, crypto can't be used "on the scale that would come anywhere near for solving the sanctions problem," said Redbord, who is head of legal and government affairs at the firm.

Russia would need to buy cryptocurrency, then sell it for "more usable, traditional currencies" to fund the war, he said.

But "the liquidity just simply isn't there," he told CNBC's "Squawk Box Asia" on Tuesday.

Additionally, most of the liquidity is at large crypto exchanges that have "robust compliance controls" to monitor transactions that would file suspicious activity reports.

Moscow would have to go to the "illicit underbelly" of the crypto economy.

"That'll be the place they'll look, but there's just not the liquidity there to really make a dent in terms of what Russia is facing right now," he said.

— Abigail Ng

China will lean toward Russia while avoiding sanctions, says think tank

VIDEO2:5002:50
China may study sanctions to use as tools of coercion in the future: Think tank

"China will lean towards Moscow while trying to avoid sanctions," said Evan Feigenbaum of the Carnegie Endowment for International Peace.

"I expect the Chinese to be compliant, but nonetheless straddle where they can," said Feigenbaum, vice president for studies at the institute.

The global market is much more important to Chinese firms than the Russian market, he said, but the Chinese will still find ways to continue their relationship with Russia while avoiding sanctions because they don't want to be a target.

China may also study the sanctions toolkit rolled out by the U.S. for its own defense and could use such tools in the future in its own efforts to coerce other players, Feigenbaum added.

— Chelsea Ong

Odds are stacked against Ukraine and Russia has the upper hand, says political analyst

VIDEO1:5101:51
Time is not on 'the Ukrainian side,' says political analyst

Time is "not working on the Ukrainian side" as Russia has the upper hand in its war against the country, said Samuel Charap, a senior political scientist at Rand Corporation, a research firm. 

Only a fraction of Russian capabilities "have really been deployed," but it's clear that the Russians are now "regrouping," and the numbers are stacked against the Ukrainians, he told CNBC's "Streets Signs" on Tuesday.

"Unless there's a deal to have a cease-fire and some sort of settlement in the coming days, I'm quite concerned about this sort of massive column that's heading toward Kyiv," Charap said, referring to the Ukrainian capital.

Russia still has its sights set on Kyiv, despite tough Ukrainian resistance, according to a Pentagon official.

On Monday, Ukrainian and Russian officials wrapped up a critical round of cease-fire talks near the border with Belarus, with both countries open to more negotiations.

"The Russians have had a rough go in the beginning, but ultimately, they far outman and outgun the Ukrainians," Charap said.

— Sumathi Bala

Moscow keeps sights set on Kyiv, despite tough resistance

The Kremlin still wants its invasion troops to capture Kyiv, even as Russian forces continue running into stiff Ukrainian resistance, according to a senior Pentagon official who spoke on condition of anonymity.

"We expect that they're going to want to continue to move forward and try to encircle the city [Kyiv] in the coming days," the official said. "They are not there yet, that's not happening yet, but that appears to be what they're interested in doing."

Satellite images from Maxar Technologies taken on Feb. 28 appear to show a convoy of Russian vehicles advancing on Ukraine's capital Kyiv. The firm says these images show the northern end of the convoy, with logistics and resupply vehicles. Satellite image (c) 2022 Maxar Technologies.
Maxar Technologies | Getty Images

Russian advances on the Ukrainian capital have slowed, but forces are roughly 25 kilometers (16 miles) outside the city, the source said. The official cautioned that distance is an estimate, and movements on the ground are changing.

Ukrainian defenders continue to hold major cities that have seen brutal fighting, including Kharkiv and Chernihiv, and they still maintain centralized command and control of their military units. The Ukrainians still possess "significant air and missile defense capabilities," the official said.

On Monday, Ukraine's Ministry of Foreign Affairs claimed that Russian invasion forces had so far lost 4,500 personnel, almost 200 tanks and almost 60 aircraft, half of them helicopters. CNBC could not verify those claims.

Charred military vehicles are seen on a road, as Russia's invasion of Ukraine continues, near the town of Bucha in the Kyiv region, Ukraine Feb. 28, 2022.
Maksim Levin | Reuters

In the meantime, the Russians are "throwing a lot at the problem" in terms of missiles and other heavy weaponry, the U.S. official said.

"They're launching missiles, medium-range, short-range, cruise missiles," the official added. "They're using artillery, they're using rockets, manned aircraft, they've got infantry there."

— Ted Kemp