Member countries of the International Energy Agency (IEA) on Tuesday agreed to release 60 million barrels of crude reserves — half of it from the United States — to try to curb soaring oil prices stemming from the Ukraine-Russia conflict.

But the move didn't affect oil prices, with Brent crude rising to nearly $107 a barrel after the announcement, its highest level since 2014, while energy experts said the release won't do much to stop surging prices.

"The bottom line is this is not enough to cool off the market. It's a bit of a Band-Aid solution," said Michael Tran, managing director of global energy strategy at RBC Capital Markets.

"You need to super-size the numbers," said Robert Yawger, vice-president of energy futures at Mizuho Securities.

In a note Tuesday, Louise Dickson, the senior oil market analyst at Rystad Energy, said the participating OPEC members are producing about 800,000 barrels a day below their promised stated target levels, "adding to the shortness in the supply market and further stoking the bullish price environment".

The Paris-based IEA said in announcing the release that "global energy security is under threat'' because of the conflict.

"The situation in energy markets is very serious and demands our full attention," said Fatih Birol, IEA executive director, putting "the world economy at risk during a fragile stage of the recovery".

The IEA's decision to tap oil reserves represents its first release since the Libyan civil war in 2011. Prior to that, the IEA released oil reserves during the 1991 Gulf War and the 2005 hurricane season that included hurricanes Rita and Katrina. The reserves were established in the wake of the Arab oil embargo in 1974.

The IEA also includes Germany, France, the UK, Italy, the Netherlands, Japan, South Korea and Canada. They hold emergency stockpiles of 1.5 billion barrels of oil.

While half of the release will come from the US Strategic Petroleum Reserve, the rest will come from Europe and Asia.

The US oil release will represent the Biden administration's second tapping of the Strategic Petroleum Reserve of 600 million gallons stored in underground salt caverns in Louisiana and Texas.

In November, President Joe Biden announced the release of 50 million barrels of oil from the US reserve, but the measure had only a small impact on oil prices.

The White House said in a statement that Biden "was clear from the beginning that all tools are on the table to protect American businesses and consumers, including from rising prices at the pump".

MOSCOW -- Russian President Vladimir Putin signed a decree introducing temporary economic measures to ensure the country's financial stability, the Kremlin announced Tuesday.

These measures will be taken in response to anti-Russian sanctions by the United States, other countries and international organizations, according to the decree.

Among the measures, Russia will ban the outflow of foreign currencies in an amount exceeding the equivalent of $10,000 starting Wednesday.

Effective since Wednesday, restrictions regarding transactions of securities, real estate and loans will be imposed on foreigners associated with countries that have taken anti-Russian actions.

On Monday, Putin also inked a decree introducing "special economic measures" to cushion the impact of a new wave of Western sanctions amid Russia's special military operation in Ukraine.

UNITED NATIONS - UN Secretary-General Antonio Guterres on Tuesday called for resources to meet the increasing humanitarian needs in Ukraine and for efforts to end the conflict.

"The international community must give them our unequivocal support. We must help Ukrainians help each other through this terrible time," he said at the launch of a flash appeal for Ukraine and a regional refugee response plan for neighboring countries.

The three-month flash appeal for Ukraine requires ￥1.1 billion to meet the humanitarian needs of more than 6 million people affected and displaced by military operations. The regional response plan needs 551 million dollars to help Ukrainians who have fled across borders, principally to Poland, Hungary, Romania and Moldova.

"I urge you to respond to these life-saving appeals," Guterres told the launch event in Geneva via video teleconference.

He warned that the crisis in Ukraine could have a serious impact on vulnerable people around the world -- not only because it will stretch humanitarian funding even further, but because Ukraine is a vital source of grains.

The World Food Programme buys more than half its wheat from Ukraine. Disruption to the harvest could drive up prices and add to global hunger, he warned.

This speaks to the urgent need for global solidarity -- not only to fund humanitarian aid programs, but to invest in peace, he said.

"The most effective humanitarian relief is to silence the guns. Now, more than ever, we must intensify our efforts for peace, everywhere," he said. "Soldiers must return to their barracks. Leaders must turn to diplomacy. I urge all those with influence to use it to end this senseless conflict."

UN agencies and partners are working 24/7 to assess humanitarian needs and scale up aid, particularly to women, children, older people and those with disabilities, he said.

The United Nations is coordinating partnerships between organizations and groups inside and outside Ukraine, and surging personnel into the country. "As we ramp up our efforts, it is essential that all humanitarian workers are safe and protected, and have guaranteed freedom of movement," he said.

"Unimpeded access to all affected people and communities must also be guaranteed. I call on all sides to uphold their obligations under international humanitarian law," said Guterres.

Zelensky signs application but fast approval unlikely within divided bloc

Ukrainian President Volodymyr Zelensky formally signed an application on Monday for his country to join the European Union, but the prospects for a quick accession are remote despite the support offered by several EU member states.

The signing came after Zelensky made a call for the EU to accept Ukraine and comments by European Commission President Ursula von der Leyen that "they are one of us and we want them in".

"We ask the European Union for Ukraine's immediate accession via a new special procedure," Zelensky said on Monday.

"Our goal is to be together with all Europeans and, most importantly, to be on an equal footing. I'm sure it's fair. I am sure it's possible."

But the decision on Ukraine's membership must be made by the EU's 27 member states, with a unanimous agreement required for acceptance of any new member. And within the EU, there has been little public appetite over the past years for EU enlargement.

European Council President Charles Michel told French TV station BFM on Monday that there will be a debate about making Ukraine a member of the EU.

"This is a debate which, in any case, will be held," he said, adding that the EU already had a "very powerful" association agreement with Ukraine which could be reinforced.

He also admitted earlier that there were "different opinions and sensitivities within the EU on enlargement".

The European Parliament published a motion on Monday night with the support of all the parliament's major political groups. It called on the EU to push toward "granting EU candidate status to Ukraine".

On Monday, the presidents of eight Central and Eastern European nations called on EU member states to immediately grant Ukraine the status of an EU candidate and to open membership talks.

The presidents of Bulgaria, the Czech Republic, Estonia, Latvia, Lithuania, Poland, Slovakia, and Slovenia said in an open letter that they "strongly believe that Ukraine deserves receiving an immediate EU accession perspective".

Measured responses

But Germany and France, the EU's two most influential members, gave measured responses on Monday to the calls for Ukraine's fast-track membership.

"Ukraine is part of this European house, and we know that the desire of many Ukrainians is and was to have closer ties with the EU," German Foreign Minister Annalena Baerbock told a news conference in Berlin along with Slovenian counterpart Anze Logar.

"Everyone is aware, as the president of the (European) Commission emphasized yesterday, that joining the EU is not something that can be done in a few months, but that it involves an intensive and far-reaching transformation process."

An Elysee Palace official said that France welcomed Ukraine's EU aspirations but they should be part of a broader debate on the future of the bloc, also including other would-be members.

Albania, North Macedonia, Montenegro, Serbia and Turkey are the five official candidates for EU membership. Some accession talks have lasted more than a decade with no conclusion in sight.

The EU members have a mutual defense clause under the Treaty of Lisbon. It requires other members to aid a country if it's "the victim of armed aggression on its territory", which might further complicate Ukraine's EU membership prospect.

Amid increasing sanctions from Western countries, Brazil's President Jair Bolsonaro, however, said on Monday that Brazil will not impose sanctions on Russia, according to multiple media reports.

Agencies contributed to this story.

Russian analysts say nuclear high-alert order intended to cool any 'hotheads' on other side

Russian President Vladimir Putin's order to place his country's nuclear forces on high alert is part of a pattern of escalating tensions following his "special military operation" on Ukraine.

Putin justified this decision by citing the West's "unfriendly economic actions", as well as the "aggressive "rhetoric against Moscow.

According to Russian experts, this is the first time Russia's nuclear forces have been put on high alert since the end of the Cold War, even though the United States declared that NATO did not pose a threat to Russia.

"Most likely, we are talking about bringing the control system of nuclear forces into a state that makes deterrence forces more stable in the event of an attack," Pavel Podvig, director of the Russian Nuclear Forces Project and senior researcher at the UN Institute for Disarmament Research, told Russian newspaper Kommersant.

"Overall, once a containment force has been brought to this point, it becomes less vulnerable to a first strike. However, this does not mean that Russia is going to attack first."

Western powers including the US and NATO protested sharply after Putin said in a televised address that the country's nuclear "deterrence forces" had been placed on "a special mode of combat service".

The UN called the idea of using nuclear weapons "inconceivable", while Ukraine's government said it saw the move as an attempt at intimidation, as delegations from both countries met for talks on Monday.

Just as within NATO, some of Russia's nuclear weapons are in constant readiness and "can be launched within 10 minutes," said Marc Finaud, a nuclear proliferation expert at the Geneva Centre for Security Policy.

"Either the warheads are already mounted on missiles, or the bombs are already aboard bombers and submarines."

Putin warned last week that if other countries interfered with Russia's plans they would face consequences the "like of which they have never seen".

That statement was widely interpreted as a warning to NATO about direct military involvement in Ukraine. NATO has always been clear that it will not become militarily involved, knowing it could trigger direct conflict with Russia.

Vasily Lata, a senior research fellow at the Academy of Strategic Missile Forces, said Putin's order sought "not to escalate the conflict with the West, but on the contrary, to prevent its aggravation".

Lata believes that through this decision, Putin again warned the US and NATO that meddling in the military conflict in favor of Ukraine was unacceptable and Russia is ready to take "decisive measures".

"At present, it is a necessary and reasonable decision. This will cool any hotheads on the other side," he said.

Viewed in this way, the nuclear alert is a way of emphasizing this message to his own people, the BBC said.

Another way of seeing it is that Putin is worried about Western plans to provide military assistance to the Ukrainians and wants to warn them about not doing too much.

During the Cold War, a huge intelligence machine was created in the West to watch Moscow's nuclear arsenal. Satellites, intercepted communications and other sources were analyzed to look for warning signs such as preparing weapons or aircrews to operate bombers.

Much of that intelligence machine remains in place, and the West will be now watching Russia closely to understand if there is going to be any significant change in behavior.

The impact of the Russia-Ukraine crisis is heightening concern about global supply chains as Europe's benchmark gas and oil prices continued to rise.

Key gas listings on the United Kingdom's trading markets jumped as much as 27 percent and later settled up 5 percent on Monday, reflecting increases across Europe.

The crisis has caused oil prices to soar above $100 a barrel for the first time in nearly a decade, the Reuters news agency said. This is six times higher than a year ago.

The Times newspaper reported that Russian gas supplies to Europe may be interrupted as a consequence of sanctions against President Vladimir Putin's regime.

Russia historically provides around 40 percent of the European Union's natural gas supply and approximately 50 percent of Germany's, noted the Oilprice.com news site.

An analyst at Goldman Sachs, quoted by The Times, said markets must reflect "the risk that Russian commodities eventually fall under Western restrictions".

A 65-kilometer long Russian military convoy was heading toward the Ukraine capital Kyiv on Tuesday after ceasefire talks between Russia and Ukraine failed to reach a breakthrough, said Reuters.

An oil market analyst, quoted by Reuters, said prices could continue to rise.

"The fragile situation in Ukraine and financial and energy sanctions against Russia will keep the energy crisis stoked and oil well above $100 per barrel in the near-term and even higher if the conflict escalates further," said Louise Dickson, from Rystad Energy.

Fossil fuel prices will inevitably impact costs for consumers and businesses, said The Times, which noted that UK households were already bracing for a 54 percent jump in energy bills, to almost 2,000 pounds ($2,680) a year from April.

The paper noted that the UK has no direct pipeline links to Russia, but partly depends on Russian supplies into Europe. It said any disruption to the European supply would increase the continent's demand for liquefied natural gas shipments.

In a social media post, Kwasi Kwarteng, the UK's business secretary, said: "Unlike Europe, we're not reliant on Russian gas. But like others, we are vulnerable to high prices set by markets. The situation we are facing is a price issue, not a security of supply issue. Put simply: we have lots of gas from highly diverse and secure sources－but it is very expensive."

The Daily Telegraph reported that the British government is working with European allies to increase deliveries of liquefied natural gas at ports across the continent, in order to lower dependence on Russian gas supplies.

If this was achieved, then new sanctions could target Russian energy companies.

The UK, the United States, and others have so far resisted imposing sanctions on Russian gas giants including Rosneft and Gazprom.

According to The Telegraph, fossil fuels account for more than 60 percent of Russia's exports.

TALLINN - Visiting Secretary General of the North Atlantic Treaty Organization (NATO) Jens Stoltenberg on Tuesday stressed diplomatic efforts to solve the ongoing Ukraine crisis.

Stoltenberg made the remarks at a joint press conference with Estonian Prime Minister Kaja Kallas and visiting British Prime Minister Boris Johnson at the Tapa Army Base in northern Estonia.

He called for an immediate stop of the war in Ukraine, pullout of Russian forces and the engaging of diplomatic efforts.

"Over the last weeks, in response to Russia's attacks on Ukraine, we have increased our defensive presence in the air, on land, and at sea," he noted.

There are "over 100 jets at high alert operating from 30 different locations and over 120 ships from the Baltic Sea to the Mediterranean," Stoltenberg said, adding that Britain, the United States and other allies are deploying thousands more troops to the eastern part of the alliance.

"For the first time in our history, we are deploying the NATO response force," said the NATO chief, who termed NATO as a defensive alliance that does not seek conflict with Russia.

The second round of peace talks between Russia and Ukraine could take place on Wednesday, the TASS news agency reported Tuesday citing sources.

The first round of the negotiations, which lasted about five hours, concluded on Monday in Belarus' Gomel region, with no clear breakthrough.

For his part, Johnson said that he wanted to be "crystal clear" that "we will not fight Russian forces in Ukraine" and "our reinforcements, like the reinforcements here in Tapa, are firmly within the borders of NATO members."

On the number of reinforced troops, the British prime minister said "we will always keep things under review." He also termed the "no-fly zone" on Russian aircraft over Ukraine as a very big step that "simply is not on the agenda of any NATO country."

More than 900 members of the Royal Welsh infantry regiment of the British Army and nearly 200 Danish troops together with their vehicles and equipment will be joining NATO Battlegroup Estonia at Tapa Army Base, the Estonian Public Broadcasting reported on Tuesday.

Estonian President Alar Karis met with Stoltenberg at Tallinn airport earlier on the day.

Stoltenberg also made a trip to Poland with a visit to Lask airbase on Tuesday.

MOSCOW - The second round of peace talks between Russia and Ukraine could take place on Wednesday, the TASS news agency reported Tuesday citing sources.

The first round of the negotiations, which lasted about five hours, concluded on Monday in Belarus' Gomel region, with no clear breakthrough.

"Most importantly, we agreed to continue the negotiation process. The next meeting will be held in the coming days on the Polish-Belarusian border," Vladimir Medinsky, head of the Russian delegation, said after the talks.

China's fundamental position on the Ukraine issue is open, transparent and consistent, as the country always maintains that the sovereignty and territorial integrity of all countries should be respected, State Councilor and Foreign Minister Wang Yi said on Tuesday in a phone conversation with Ukrainian Foreign Minister Dmytro Kuleba.

Wang said China called for Russia and Ukraine to find solutions to the problem through negotiations and supports all constructive international efforts conducive to the political settlement of the current crisis.

Wang said China deeply regrets that a conflict has broken out between Ukraine and Russia, and is extremely concerned about the harm to civilians, adding that the immediate priority is to try the utmost to defuse the situation and prevent the conflict from escalating or even getting out of control.

He emphasized the urgent need to prevent harm to civilians and the emergence of humanitarian crises and to ensure the safe and timely access of humanitarian aid.

Wang urged Ukraine to shoulder its due international responsibilities with regard to protecting the safety of Chinese citizens in Ukraine.

He said he hoped that Ukraine would take all necessary measures to ensure the safety of Chinese citizens in the country and continue to provide protection and convenience for the evacuation of Chinese citizens.

Kuleba briefed Wang on the first round of talks between Ukraine and Russia, saying that Ukraine is open to a negotiated solution to the conflict and would remain calm and continue the negotiations.

Noting that China has played a constructive role on the Ukraine issue, Kuleba said Ukraine is willing to strengthen communication with China and looks forward to China's mediation in the realization of the cease-fire.

Kuleba also said Ukraine attaches great importance to China's concerns and is assisting the smooth evacuation of Chinese citizens, including students.

In another development, Russia's TASS news agency reported on Tuesday that the second round of Russia-Ukraine talks is planned for Wednesday, quoting a source on the Russian side.

The first round of Russia-Ukraine talks aimed at ending their conflict concluded with no immediate agreement on Monday. The talks, which lasted nearly five hours, took place in the Gomel region of Belarus, near the border with Ukraine.

Russian Defense Minister Sergey Shoigu said on Tuesday that Russia will continue the special military operation in Ukraine until the achievement of its set purpose.

Interfax News Agency reported on Tuesday that Russia is planning to move troops from its Far East region closer to Europe.

The news agency quoted Russia's eastern military district as saying that Russian troops based in the country's Far East region will hold drills in Astrakhan province, which lies on the border between the European and Asian parts of Russia.

Meanwhile, a huge Russian military convoy was massing on the outskirts of Kyiv on Tuesday morning.

Satellite images showed the convoy of armored vehicles, tanks, towed artillery and other vehicles. The convoy is more than 65 kilometers long, stretching from near Antonov airport outside Kyiv to the town of Prybirsk.

Russian troops will carry out an attack on what they said was the infrastructure of Ukraine's intelligence services in Kyiv and urged residents living nearby to leave, the Russian Defense Ministry said on Tuesday.

Blasts were heard in the Ukrainian capital hours after the talks ended on Monday. A mushroom cloud erupted over eastern Kyiv as air raid sirens were sounded early on Tuesday.

Explosions were also reported in and around Brovary, on the outskirts of the capital.

Ukrainians set up checkpoints and blocked streets with piles of sandbags and tires as they waited to take on Russian soldiers.

In Ukraine's second-largest city Kharkiv, a government building was shelled by the Russian military on Tuesday morning.

Kharkiv's Mayor Igor Terekhov, quoted by Ukrainian media, said that Russian armored vehicles and tanks are "everywhere around the city".

Agencies contributed to this story.

March 1 - Wall Street ended sharply lower on Tuesday, with financial stocks bearing much of the damage for a second straight day as the Russia-Ukraine crisis deepened and stirred anxiety among investors.

Most of the 11 S&P 500 sector indexes fell, led by financials.

Wells Fargo tumbled and the broader banks index declined sharply as U.S. 10-year Treasury yields slumped to five-week lows amid a flight to safe-haven debt.

Chevron Corp hit a record high after the oil major also raised its share buyback program and forecast for operating cash-flow through 2026, and as oil prices surged.

According to preliminary data, the S&P 500 lost 68.04 points, or 1.51%, to end at 4,305.90 points, while the Nasdaq Composite lost 220.47 points, or 1.60%, to 13,530.93. The Dow Jones Industrial Average fell 601.80 points, or 1.78%, to 33,290.80.

On a positive note, data showed U.S. manufacturing activity picked up more than expected in February as COVID-19 infections subsided, while construction spending surged in January.

"Given the fact that the U.S. economy is accelerating, the uncertainty will be relatively short lived and it wouldn't be a surprise if the market found its footing sometime over the next couple of weeks when clarity is restored," said Jeff Schulze, investment strategist at ClearBridge Investments.

Target Corp jumped after the big-box retailer forecast 2022 sales and profit above analysts' expectations.

Defense stocks added to recent gains, with Lockheed Martin Corp Northrop Grumman and L3Harris Technologies all rallying.

The CBOE volatility index, also known as Wall Street's fear gauge, rose to its highest since Feb. 24.

Zoom Video Communications Inc slid after it forecast downbeat full-year revenue and profit, signaling a hit from tough competition and lower sign-ups for its core Meetings platform.

Reuters

March 1 - Apple Inc said on Tuesday it has paused all product sales in Russia.

The company also said it was halting all exports into the country and is limiting use of Apple Pay and other services.

Reuters

MOSCOW -- The Russian Armed Forces have destroyed 1,325 Ukrainian military infrastructure objects since the start of the operation, Russian Defense Ministry spokesman Igor Konashenkov said Tuesday.

The access of Ukrainian troops to the Sea of Azov has been completely blocked, he added.

MOSCOW -- Russia will continue its special military operation in Ukraine until it achieves the main goal of defending Russia from Western threats, Defense Minister Sergei Shoigu said Tuesday.

Top officials of the African Union have condemned reports that citizens of African countries have been denied from leaving war–torn Ukraine.

Current chair of the AU and Senegalese President Macky Sall and chairperson of the AU Commission Moussa Faki Mahamat on Monday said they are closely following developments in the European nation.

The officials in a statement said they "are particularly disturbed by reports that African citizens on the Ukrainian side of the border are being refused the right to cross the border to safety".

The officials condemned the "ill-treatment" of African citizens by Ukraine's security officers who prevented them from leaving the country.

Thousands of Africans studying in Ukraine are desperate to leave the country.

However, reports say Ukrainian security officials are preventing them from catching buses and trains going to the border, prioritizing Ukrainians.

Those who managed to reach the Ukraine-Poland border also wrote on Twitter that Ukrainian police and army were refusing to let Africans cross.

The AU chiefs denounced the bad treatment against Africans as "unacceptable".

"All people have the right to cross international borders during conflict, and as such, should enjoy the same rights to cross to safety from the conflict in Ukraine, notwithstanding their nationality or racial identity," the two officials said in the statement.

They said reports Africans "are singled out for unacceptable dissimilar treatment would be shockingly racist and in breach of international law".

The chairpersons urged all countries to respect international law and show the same empathy and support to all people fleeing war regardless of their racial identity.

The two also commended efforts by AU member state countries and their embassies in neighboring countries to receive African citizens and their families trying to cross the border from Ukraine to safety.

Russian and Ukrainian officials met in Belarus on Monday for talks on the conflict between the two nations, concluding with an agreement to continue the discussions.

Vladimir Medinsky, a top aide to Russian President Vladimir Putin, said that the first talks between the two sides since the start of the hostilities lasted nearly five hours and that the envoys "found certain points on which common positions could be foreseen".

He said they agreed to continue the discussions.

Putin denounced the US and its allies on Monday as Ukraine moved to join the European Union.

"All [the US] satellites not only dutifully agree, sing along to its music, but also copy its behavior, and enthusiastically accept the rules they are offered. Therefore, with good reason, we can confidently say that the entire so-called Western bloc, formed by the United States in its own image and likeness, all of it is an empire of lies," Putin said Monday.

Video from Kharkiv, Ukraine's second-largest city, 300 miles southeast of Kyiv, showed residential areas being shelled. Authorities said at least seven people had been killed and dozens injured.

"I believe Russia is trying to put pressure (on Ukraine) with this simple method," Ukrainian President Volodymyr Zelensky said late Monday, in reference to the bombings. He did not offer details on the talks but said that Kyiv would not make concessions "when one side is hitting each other with rocket artillery".

In other developments, the US announced it was expelling 12 members of Russia's United Nations mission, accusing them of spying.

"The US authorities have undertaken another hostile action against the Russian mission to the United Nations, grossly violating the commitments of the host country agreement that they undertook," Russia's ambassador to the UN Vassily Nebenzia said Monday.

The UN General Assembly opened its first emergency session in decades, with Assembly President Abdulla Shahid calling for an immediate cease-fire and "a full return to diplomacy and dialogue".

The talks between Ukraine and Russia began on Monday noon local time in the Gomel region of Belarus.

The Russian delegation included officials from the foreign and defense ministries and Putin's office, while the Ukrainian side sent six senior officials, including Oleksiy Reznikov, the Ukrainian defense minister.

The talks were held as Russia is working on a plan to evacuate its citizens from European nations. Russia's Federal Air Transport Agency and the Federal Tourism Agency revealed Sunday that they were working with the Russian Foreign Ministry to evacuate Russian citizens from European nations as those nations continue to impose sanctions on Russia while cutting off Russian aircraft from their airspaces.

Russian Defense Ministry spokesman Igor Konashenkov said Monday that Russian forces had established "total air superiority" over Ukraine.

"Since the beginning of the operation, Russian forces have hit 1,114 Ukrainian military infrastructure facilities ... destroyed 314 tanks and other armored vehicles, 57 multiple rocket-launch systems, 121 field artillery pieces and mortars," he said.

Ukraine's military estimated some 5,300 Russian personnel losses, without specifying how many were killed or captured.

Oleg Sinegubov, a regional official, earlier had said that Kharkiv had been brought under Ukrainian control, and the army was expelling Russian forces.

Moscow said it was besieging the cities of Kherson and Berdyansk. Both are located close to the Crimean Peninsula.

As Western sanctions on Russian banks and other institutions took hold, the ruble plunged, and Russia's central bank scrambled to shore it up, as did Putin, signing a decree restricting foreign currency.

The Associated Press contributed to this story.

BRUSSELS - The European Union (EU) should be ready to face the cost of its sanctions against Russia as Moscow is now widely expected to retaliate, EU's High Representative for Foreign Affairs and Security Policy Josep Borrell warned on Monday.

"Sanctions will backlash, sanctions have a cost ... We have to be ready to pay this price now, because if not, we will have to pay a much bigger price in the future," Borrell said, adding that it was important to be realistic in this situation.

"Energy will not be out of this conflict, like it or not," Borrell said at a press conference following a video conference of EU defense ministers.

As Europe is highly dependent on Russian gas and oil, the EU will have to accelerate its green transition towards renewables, he said.

On Sunday, the EU member states' foreign ministers agreed on a 500-million-euro ($560.7 million) budget for military assistance to be sent to Ukraine -- a move the bloc described as a "watershed moment" in its history. Before that, two sets of sanctions aiming at isolating and weakening Russia had been agreed by the ministers.

Borrell presided over a meeting of the EU defense ministers, which was called to coordinate the member states' efforts to provide military assistance to Ukraine.

"We are creating a clearing house (mediator) to keep track of the Ukrainian requests in one side, and their needs, and our offers, member states offers, in order to be sure of the maximum effectiveness and coordination of our support," explained Borrell.

This unit will be working in coordination with the North Atlantic Treaty Organization (NATO), he added.

Military help to be sent by the EU to Ukraine includes weapons, munitions and materials that will "allow the Ukrainians to defend themselves," according to Borrell.

As the EU decided to supply military assistance to Ukraine, it is moving from a peace union to a military union, said Borrell.

"Until now, it was considered that the European Union, which is a peace union, not a military union, was not allowed to supply arms to a third country. That's what we are doing now. This is another taboo that falls," he told the press conference, adding that this was a turning point in the history of EU integration.

MOSCOW - Negotiations between Russia and Ukraine in Belarus have ended, TASS news agency reported Monday.

KHARTOUM - Sudan's Transitional Sovereign Council on Monday reiterated its support for dialogue to resolve the crisis between Russia and Ukraine, a council spokesperson said.

The council on Monday held its regular meeting at the Republican Palace in Khartoum and reviewed the Russian-Ukraine conflict, chaired by the council's chairman Abdel Fattah Al-Burhan.

"Sudan stands with the diplomatic solution as a way out of the crisis and supports the currently on-going endeavors between the two countries," the council's spokesperson Salma Abdul-Jabbar Al-Mubarak said in a statement.

The next round of Russia-Ukraine peace talks will take place on the Belarusian-Polish border in the coming days, according to Vladimir Medinsky, head of the Russian delegation at the talks held in Belarus, Russia's RIA Novosti news agency reported Monday.

All negotiation positions were discussed in detail during the talks in Belarus, Medinsky said after the consultations.