Reuters
57m ago / 2:12 PM UTC
Energy giant BP, global bank HSBC and the world's biggest aircraft leasing firm AerCap joined a growing list of companies looking to exit Russia on Monday, as Western sanctions tightened the screws on Moscow over its invasion of Ukraine.
The West has sought to punish Russia with a raft of measures, including closing airspace to Russian aircraft, shutting out some Russian banks from the SWIFT global financial network and restricting Moscow's ability to deploy its $630 billion foreign reserves.
Russia's economy was already reeling on Monday. The rouble plunged as much as 30 percent to an all-time low, while the central bank doubled its key interest rate to 20 percent, kept stock markets and derivative markets closed and temporarily banned brokers from selling securities held by foreigners.
BP, Russia's biggest foreign investor, abruptly announced at the weekend that it was abandoning its 20% stake in state-controlled Rosneft at a cost of up to $25 billion, cutting the British firm's oil and gas reserves in half and reducing BP's production by a third.
BP's decision, following talks with the British government, shone a spotlight on other Western firms with stakes in Russian oil and gas projects, such as U.S. firm ExxonMobil, France's TotalEnergies and Britain's Shell.
Equinor, the energy firm majority owned by the Norwegian state, said it would start divesting its joint ventures in Russia, although a spokesperson added: "It will take some time to untangle a business developed over decades."
Norway's sovereign wealth fund, the world's largest, will also divest its Russian assets, worth about $2.8 billion, while Australia's sovereign wealth fund said it planned to wind down its exposure to Russian-listed companies.
NBC News
1h ago / 1:51 PM UTC
U.S. suspends operations at Minsk embassy, authorizes voluntary departure of nonemergency staff in Moscow
Chantal Da Silva and Abigail Williams
1h ago / 1:41 PM UTC
The U.S. Department of State has suspended operations at its embassy in Minsk, the Belarusian capital, and has authorized the voluntary departure of nonemergency employees and family members at its embassy in Moscow.
In a statement Monday, the State Department said it had taken both steps "due to security and safety issues stemming from the unprovoked and unjustified attack by Russian military forces in Ukraine."
"The Department of State continually adjusts its posture at embassies and consulates throughout the world in line with its mission, the local security environment, and the health situation," the department said.
"We ultimately have no higher priority than the safety and security of U.S. citizens, and that includes our U.S. government personnel and their dependents serving around the world," it said.
The embassy moves come as Ukraine officials meet with Russian counterparts at the Belarusian border for negotiations on Monday.
NBC News
2h ago / 1:25 PM UTC
A woman reacts next to a residential building, which locals said was damaged by recent shelling, in the separatist-controlled city of Donetsk, Ukraine, on Monday.
Alexander Ermochenko / Reuters Green Day cancels Moscow concert
Green Day announced Sunday that the band would not play its May 29 concert at Spartak Stadium in Moscow.
In a statement posted to Instagram, the band wrote: “With heavy hearts, in light of current events we feel it is necessary to cancel our upcoming show in Moscow at Spartak Stadium."
"We are aware that this moment is not about stadium rock shows, it’s much bigger than that. But we also know that rock and roll is forever and we feel confident there will be a time and a place for us to return in the future. Stay safe," the statement said.
Kremlin spokesman: Russia has 'potential to compensate for the damage' from sanctions
Chantal Da Silva and Natasha Lebedeva
2h ago / 1:20 PM UTC
Russia can overcome the damage from heavy sanctions imposed in response to the country's continued attack on Ukraine, Kremlin press secretary Dmitry Peskov said Monday.
As negotiations between Ukraine and Russia took place on the Belarusian border Monday, Peskov said he would not comment on the "aim of the negotiations."
"Let's wait and see what they bring," he said, adding: "We regret that the negotiations didn't start a day ago, or last night."
Speaking before the U.S. announced new sanctions on the Russian central bank this morning, Peskov acknowledged that Russia's "economic reality" has changed, with the value of the ruble plummeting Monday and Moscow's central bank raising interest rates from 9.5 percent to 20 percent in a bid to protect people's savings.
However, he said, "there is no reason to doubt the effectiveness and reliability of the central bank."
"The Russian Federation was preparing for the possible sanctions in advance. Even to the harshest sanctions," he said.
His comments came as Japan announced it would join international sanctions on the Russian central bank by limiting transactions, along with other measures.
Peskov said Russia would be "dealing with the issues as they come."
"The sanctions are heavy, problematic, but Russia has the potential to compensate for the damage," he said.
Asked about Vladimir Putin's own attitude toward personal sanctions, Peskov said the Russian president was "rather indifferent."
He also repeated warnings about international interference in the conflict, characterizing the European Union's response to Russia's invasion as "measures of an unfriendly, hostile nature against us."
"From our point of view, the supply of weapons, armaments and ammunition to the territory of Ukraine can and will become extremely dangerous as a stabilizing factor," he said, warning that such efforts could have "much more dangerous consequences."
Russia accused of heavy shelling in Kharkiv
Chantal Da Silva
2h ago / 1:12 PM UTC
Russia has been accused of carrying out a massive shelling in Ukraine's second-largest city, Kharkiv, with shocking video purportedly showing the assault.
Sharing video appearing to show flashes in the sky as smoke fills the air, Ukrainian interior ministry adviser Anton Herashchenko said "Kharkiv has just been massively shelled from Gradov."
"Dozens of dead and hundreds of wounded! This horror must be seen by the whole world! Death to the invaders!" he said.
NBC News has verified the video, but has not confirmed reports of any casualties from the apparent attack.
NBC News
2h ago / 1:05 PM UTC
NBC News
2h ago / 12:49 PM UTC
U.S. expands sanctions on Russia's central bank, prohibiting American deals and freezing assets
Josh Lederman and Chantal Da Silva
3h ago / 12:30 PM UTC
The United States is expanding sanctions on Russia’s central bank in a move that will block Americans from doing any business with it and freezing any assets it holds in the U.S.
In a statement Monday, the Treasury said the decision would apply to the Central Bank of the Russian Federation, the National Wealth Fund of the Russian Federation and the Ministry of Finance of the Russian Federation.
It said U.S. was also adding Russian Direct Investment Fund Chief Executive Officer Kirill Dmitriev — who it referred to as a "known Putin ally" — to the sanctions list.
“The unprecedented action we are taking today will significantly limit Russia’s ability to use assets to finance its destabilizing activities, and target the funds Putin and his inner circle depend on to enable his invasion of Ukraine,” Secretary of the Treasury Janet Yellen said in a statement. “Today, in coordination with partners and allies, we are following through on key commitments to restrict Russia’s access to these valuable resources.”
It comes after the U.S., Canada and the E.U. announced they would each be restricting Russia's ability to use its central bank reserves.
Long lines at ATMs in eastern city of Dnipro
Mo Abbas
3h ago / 12:13 PM UTC
Dnipro locals gather at Rocket Park in the center of the Ukrainian city on Sunday, four days since the Russian military invaded the country.Andrea Carrubba / Anadolu Agency via Getty Images
DNIPRO, Ukraine — Although the city of Dnipro in eastern Ukraine is calm, getting cash is still a problem. Many people are roaming around trying different cash machines, walking away with nothing shaking their heads.
NBC News spotted an ATM being refilled — a line of 20 people formed almost instantly. There is a 1,000 hryvnia ($33) limit per transaction. Those who try for more than withdrawal are met with complaints from others in line.