Russian stock market resumes limited trading – WJET/WFXP/YourErie.com

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NEW YORK — The Russian stock market has resumed limited trading under heavy restrictions, almost one month after prices plunged and the market was shut down following Moscow’s invasion of Ukraine. Trading of a limited number of stocks including energy giants Gazprom and Rosneft took place under curbs that are meant to prevent a repeat of the massive selloff that took place Feb. 24 in anticipation of Western economic sanctions. Foreigners cannot sell and traders are barred from short selling, or betting prices will fall. The benchmark MOEX index gained 8% in the first minutes of trading.

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KEY DEVELOPMENTS IN THE RUSSIA-UKRAINE WAR:

— Ukraine presidentto press Biden, NATO for more support

— Biden, Western allies gather at tense moment in Ukraine war

— UN to vote on blaming Russia for Ukraine humanitarian crisis

— Russian stock market, crushed by war, partially reopens

— Go tohttps://apnews.com/hub/russia-ukraine for more coverage

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OTHER DEVELOPMENTS:

BRUSSELS — U.S. President Joe Biden and world leaders have opened the first in a trio of summits in Brussels focused on pressuring Russia to end its war in Ukraine.

Europe’s diplomatic capital is hosting an emergency NATO summit as well as a gathering of the Group of Seven industrialized nations and a summit of the 27 members of the European Union.

Biden is attending all three meetings, beginning with the NATO.

The president and the leaders of other NATO countries met for a group photo memorializing their urgent gathering before they went into the meeting, which was expected to last for several hours.

NATO Secretary-General Jens Stoltenberg opened Thursday’s meeting by saying the alliance is determined to continue to ratchet up the costs on Russia.

Biden arrived in Brussels on Wednesday with the hopes of nudging allies to enact new sanctions on Russia, which has already seen its economy crippled by a steady stream of bans, boycotts and penalties over the past four weeks.

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BRUSSELS — NATO leaders are refusing to rule out retaliation against Russia should it launch a chemical weapons attack on Ukraine — but British Prime Minister Boris Johnson thinks Moscow has already gone too far.

“The reality is that (President) Vladimir Putin has already crossed the red line into barbarism,” Johnson told reporters Thursday as he arrived for summit of NATO leaders.

Johnson says that “it’s now up to NATO to consider together the appalling crisis in Ukraine, the appalling suffering of the people of Ukraine, and to see what more we can do to help the people of Ukraine to protect themselves.”

As an organization, NATO is not providing weapons to Ukraine. The 30-nation alliance refuses to send troops to Ukraine, either for combat or peacekeeping, and has said it will not deploy aircraft to protect civilians or police any no-fly zone.

But member countries are providing weapons and other assistance, individually or in groups.

Belgian Prime Minister Alexander De Croo describes Putin as “a Russian leader who has lost any sense of what is reasonable these days.”

De Croo warns that “if chemical weapons or anything else could be used, that would have definitely grave consequences.” No NATO leader has elaborated yet on what that might mean.

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PARIS — French carmaker Renault announced Wednesday night it is suspending “activities at the Renault Moscow plant” with immediate effect.

The move came hours after Ukraine President Volodymyr Zelenskyy spoke virtually to the French parliament, calling on Renault and other French companies with a Russian presence to stop indirectly supporting the war against Ukraine.

The Renault Group board of directors met Wednesday to decided to halt production at the plant that produces Arkana, Kaptur, Duster and Nissan Terrano SUVs amid mounting criticism of its foothold in the Russian Federation.

However, the lion’s share of the group’s Russian presence goes through its subsidiary AvtoVAZ, through which it sold nearly 500,000 vehicles in Russia in 2021.

Renault said that AvtoVAZ is not immediately withdrawing, but it’s “assessing the available options, taking into account the current environment, while acting responsibly towards its 45,000 employees in Russia.”

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PARIS — France’s defense ministry announced Wednesday the country successfully tested the modernized version of its nuclear missile, the Air-Sol Moyenne Portée.

In a statement, it said that it was tested “without a military payload” and was fired from a Rafale twin-engine, multirole fighter aircraft that took off from Cazaux Air Force Base 120 in southwestern France.”

The medium-range air-to-ground nuclear ASMP missile, developed by arms manufacturer MBDA, represents part of the air component of the French nuclear deterrence. The announcement comes at the height of the war in Ukraine, as some observers fear the potential for a military escalation by Russia.

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BRUSSELS — NATO Secretary-General Jens Stoltenberg says any chemical attack by Russia on Ukraine would change the course of the war but he is not saying whether NATO would take military action.

Asked whether a chemical weapons attack is a red line for NATO, Stoltenberg said, “I will not speculate beyond the fact that NATO is always ready to defend, to protect and to react to any type of attack on a NATO-allied country.”

Stoltenberg says “any use of chemical weapons would fundamentally change the nature of the conflict. It would be a blatant violation of international law, and it will have widespread and severe consequences.”

His remarks Thursday came as he arrived at NATO headquarters in Brussels to chair a summit of the military organization’s 30 national leaders, including U.S. President Joe Biden.

NATO allies are worried about Russian rhetoric and fears that Moscow might want to create a pretext to use chemical weapons in Ukraine. The leaders are likely to agree to send equipment to help Ukraine protect against chemical, biological, radiological and nuclear threats.

They’re also set to endorse a move to set up four new multinational battlegroups in eastern Europe to deter Russia from attacking any NATO members.

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LVIV, Ukraine — Ukraine’s navy on Thursday reported destroying Russia’s large landing ship, Orsk, near the port city of Berdyansk.

A short Facebook statement about the ship was accompanied with photos and videos of fire and thick plumes of smoke in the port.

The Russian military has not commented on what happened to the ship.

Berdyansk has been under Russian control since Feb. 27.

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WASHINGTON — The U.S. State Department says Russia has begun the process of expelling several more diplomats from the U.S. embassy in Moscow.

The department said it received a list of diplomats on Wednesday who have been declared “persona non grata” by the Russian foreign ministry. It didn’t say how many diplomats were affected by the order, which generally results in the expulsion of those targeted within 72 hours.

The Russian foreign ministry summoned U.S. Ambassador to Russia John Sullivan on Monday to protest President Joe Biden’s description of Russian leader Vladimir Putin as a “war criminal” over the invasion of Ukraine. After that meeting, Russia warned that it was close to severing diplomatic relations with the United States, which would be unprecedented.

The State Department called Wednesday’s move “Russia’s latest unhelpful and unproductive step” in relations between the countries. It urged Russia “to end its unjustified expulsions of U.S. diplomats and staff.”

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