Here are the latest developments on the Russia-Ukraine crisis:

New Delhi: 

Efforts to prevent a Russian invasion of Ukraine were dealt a serious blow when Russia recognised the independence of two separatist regions in eastern Ukraine. In response, the US announced financial sanctions against the rebel territories.

Here are the latest developments on the Russia-Ukraine crisis:

1. Russian President Vladimir Putin signed mutual aid and friendship agreements with rebel leaders in the Kremlin today. "I believe it is necessary to take a long-overdue decision, to immediately recognise the independence and sovereignty of the Donetsk People's Republic and the Lugansk People's Republic," he said.
2. The West had repeatedly warned Russia against recognising Ukraine's rebels. But Russia's latest decrees effectively bury a fragile peace agreement regulating the conflict.
3. The United States has announced financial sanctions against rebel territories freshly recognised by Russia in eastern Ukraine. "I have signed an Executive Order to deny Russia the chance to profit from its blatant violations of international law. We are continuing to closely consult with Allies and partners, including Ukraine, on next steps," President Joe Biden said while signing the executive order.
4. French President Emmanuel Macron has condemned Russia's move and urged the European Union to impose fresh sanctions on Moscow.
5. The Russian forces are stationed just a few kilometres away from the Ukrainian border, along with fighter jets, tanks, helicopters and heavy weaponry. All this points to Russia's intention of starting a full-scale war in the region, the West has claimed.
6. Russia claims the build-up of forces has always been for military exercises and that it poses no threat to Ukraine or any other nation.
7. The United Nations Security Council is holding an emergency meeting today at the request of Ukraine, the US, 5 European nations and Mexico.
8. UN chief Antonio Guterres said that they were greatly concerned by Russia's decision on the status of certain areas of the Donetsk and Luhansk regions of Ukraine. "We remain fully supportive of the sovereignty, independence and territorial integrity of Ukraine, within internationally recognized borders," he posted on Twitter.
9. Tensions spiked in recent days after an outbreak of heavy shellfire on Ukraine's eastern frontline with the separatists and a series of reported incidents on the border with Russia.
10. Ukrainian President Volodymyr Zelenskiy accused Russia of wrecking peace efforts and ruled out making any territorial concessions in an address to the nation today.