RUSSIA is promising to scale down military operations around the capital Kyiv, while Ukraine for its part is mooting the adoption of neutral status, in confidence-building steps that may help de-escalate the five-week war.
TALKS AND DIPLOMACY
* Ukraine proposed not joining alliances or hosting bases of foreign troops.
* The talks in Istanbul began with a "cold welcome" and no handshake.
* Russian billionaire Roman Abramovich was there.
* The United States is sceptical of Russia's seriousness in pursuing peace.
* Russian President Putin and French counterpart Macron talk again by phone.
* Ukrainian President Zelenskiy will address Australia's parliament on Thursday.
FIGHTING
* Moscow's invasion has been halted on most fronts by strong resistance, with Ukrainians recapturing territory.
* A Russian rocket hit an administration building in Mykolaiv, killing at least 12 people.
* Russia said it destroyed a fuel depot.
* Defence Minister Shoigu said Russia had degraded Ukraine's military and would respond if NATO supplied planes and air defence systems.
ECONOMY
* Share markets and global borrowing costs surged on signs of progress in talks. Ukrainian bonds and Russia's roubles also benefited, while the oil price dropped.
* Russia retaliated in what it has called an "economic war" with the West by offering to buy back $2 billion Eurobonds maturing next month in roubles rather than dollars.
* Holcim, the world's biggest cement-maker, said it was exiting the Russian market; Japan will ban the export of high-end cars and luxury goods to Russia; Germany wants to end all fossil fuel imports from Russia.
QUOTES* "It is up to the sides to stop this tragedy," Turkey's President Erdogan at talks.
* "We are eight people. We have two buckets of potatoes, one bucket of onions," Irina, boiling soup in the stairwell of her damaged building.
* "It is very scary to be left with nothing," Gennadiy, an old man leaving his wrecked building with his belongings on his back.
READ MORE: Latest development on Ukraine-Russia crisis
Reuters
Wed Mar 30 2022

A Ukrainian serviceman stands near the wreck of a Russian tank on the front line in the Kyiv region, Ukraine. - REUTERS

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