Since Russian President Vladimir Putin signed an order on the evening of the 21st to recognize the “Donetsk People’s Republic” and the “Luhansk People’s Republic” in eastern Ukraine, Russia-Ukraine relations have accelerated their deterioration.
The latest development is that on the 24th local time, Ukrainian President Zelenskiy announced that Ukraine would sever diplomatic relations with Russia.
According to CCTV Financial Report, on the 24th local time, Russian President Vladimir Putin stated in an emergency live television speech that he had decided to conduct a special military operation in the Donbas region.
On the 24th, the Ukrainian General Staff stated that the Russian armed forces began attacking military facilities and military airports in multiple cities in Ukraine at 5:00 local time. On the same day, according to the Ukrainian Ministry of Emergency Situations, the Ukrainian National Guard headquarters was destroyed.
According to reports, the Russian Ministry of Defense stated that it is using precision-guided weapons to destroy the Ukrainian army’s military infrastructure, air defense facilities, military airports and aviation units. In addition, the Russian Defense Ministry said that the strikes in Ukraine did not endanger the safety of civilians.
Russian troops landed in Odessa, many ships diverted
According to CCTV News, on the 24th local time, Ukrainian military facilities were attacked by missiles, and Russian landing operations began in the Black Sea and the Sea of Azov. According to reports, Russian troops have landed in Odessa, Ukraine’s largest port city. Later, the General Staff of the Ukrainian Armed Forces “refuted the rumors” on Facebook: saying that the information about the landing of Russian troops in Odessa was untrue.
According to CCTV News Client, on February 24, local time, Assistant Minister of Interior of Ukraine Grasenko stated that a military unit of the Ukrainian Armed Forces in Odessa was attacked by a bomber.
According to the Daily Economic News, friends in Odessa reported that there are already Russian troops and tanks driving on the road in Odessa.
The city of Odessa, where the Russian army landed, is famous for its port. The Port of Odessa is the largest port in Ukraine and one of the largest ports on the Black Sea coast. As a natural ice-free port, water transportation is developed. In 2021, the Port of Odessa will complete container throughput The capacity is 671,500 TEU.
About 70% of Ukraine’s imports and exports are transported by water, of which the Port of Odessa handles about three-quarters. Before the war started, Odessa was regarded by various analysts as a battleground for Russia.
According to global AIS data, there are currently 35 ships in Odessa port. One of the Hong Kong-registered container ships just docked at the Odessa Container Terminal on 2022-02-24, Beijing time.
Pre-arriving ships showed that many ships planning to go to Odessa had urgently adjusted their routes and were waiting at anchor outside Ukrainian waters. One of the Panamanian cargo ships is already returning from its trajectory.
According to the latest AIS data, two suspected Russian warships have been stationed outside Ukrainian waters.
Ukraine’s foreign trade orders drop significantly
According to CCTV reports, China is currently Ukraine’s largest trading partner, and in 2021, the volume of trade in goods between China and Ukraine will hit a record high. However, since the conflict between Russia and Ukraine, traders engaged in Sino-Ukrainian trade in Yiwu, Zhejiang have been obviously affected.
A resident foreign businessman in Yiwu said that since December last year, fewer and fewer goods have been sold to Ukraine. In the past, 100,000 yuan could be sold in a week, but now only 100,000 yuan has been sold in two months.
Due to factors such as tension between Russia and Ukraine and unstable exchange rates, his foreign trade business has almost come to a standstill this year. In previous years, orders started right after the Chinese New Year, but this year there has not been a single order from Ukraine until now.
Chinese business operators at Zhejiang Yiwu International Trade City also said that the number of orders from Ukrainian customers has dropped a lot. The order quantity for each delivery has been reduced from the original 100 boxes to the current ten or twenty boxes (badminton rackets).
Russia’s international trade risks increase significantly
Citing Reuters news, Russia announced earlier this morning that it had closed all capital and securities market trading channels and sent military forces to parts of Ukraine.
As of 8 a.m. Ukraine time, many major political figures, including U.S. President Biden and European Commission President von der Leyen, had delivered speeches. Considering that U.S. President Biden stated in his latest speech that he would join forces with G7 countries to increase cooperation with Russia. financial sanctions.
The latest U.S. Treasury Department sanctions against Russia previously targeted only two banks, namely PromsvyazBank and Vnesheconom Bank, but considering that things are developing rapidly now, if mainstream banks are included in the new round of sanctions, it will inevitably have a huge impact on Russian commercial trade.
Finally, I would like to remind you again that freight forwarders and cargo owners who have recently been involved in Ukraine and Russia-related business must pay close attention to the progress of the situation, maintain communication with customers, and do a good job in collecting international payments to avoid unnecessary losses.
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