Russia says its forces have captured Kherson

PanARMENIAN.Net - Russia’s Defense Ministry said on Wednesday, March 2 that its forces had captured Kherson, a Ukrainian port, according to a report by Interfax.

The government in Kyiv hasn’t confirmed the information, but said overnight that troops were moving toward the city, Bloomberg said.

U.S. President Joe Biden used his first State of the Union address on Tuesday to label Vladimir Putin a “dictator,” and said the Russian president would pay a high price for his invasion of Ukraine. The European Union also agreed to expand its sanctions against Belarus over its involvement in the invasion.

Oil surged above $110 a barrel as traders started boycotting Russian crude even without sanctions on energy. European natural gas hit a new record -- rising as much as 60% -- raising once again the prospect of industrial blackouts in the region. And food prices are set to soar as wheat and corn storm higher on disruptions.