Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking & Finance Review®

Global Banking & Finance Review® - Subscribe to our newsletter

Company

    GBAF Logo
    • About Us
    • Advertising and Sponsorship
    • Profile & Readership
    • Contact Us
    • Latest News
    • Privacy & Cookies Policies
    • Terms of Use
    • Advertising Terms
    • Issue 81
    • Issue 80
    • Issue 79
    • Issue 78
    • Issue 77
    • Issue 76
    • Issue 75
    • Issue 74
    • Issue 73
    • Issue 72
    • Issue 71
    • Issue 70
    • View All
    • About the Awards
    • Awards Timetable
    • Awards Winners
    • Submit Nominations
    • Testimonials
    • Media Room
    • FAQ
    • Asset Management Awards
    • Brand of the Year Awards
    • Business Awards
    • Cash Management Banking Awards
    • Banking Technology Awards
    • CEO Awards
    • Customer Service Awards
    • CSR Awards
    • Deal of the Year Awards
    • Corporate Governance Awards
    • Corporate Banking Awards
    • Digital Transformation Awards
    • Fintech Awards
    • Education & Training Awards
    • ESG & Sustainability Awards
    • ESG Awards
    • Forex Banking Awards
    • Innovation Awards
    • Insurance & Takaful Awards
    • Investment Banking Awards
    • Investor Relations Awards
    • Leadership Awards
    • Islamic Banking Awards
    • Real Estate Awards
    • Project Finance Awards
    • Process & Product Awards
    • Telecommunication Awards
    • HR & Recruitment Awards
    • Trade Finance Awards
    • The Next 100 Global Awards
    • Wealth Management Awards
    • Travel Awards
    • Years of Excellence Awards
    • Publishing Principles
    • Ownership & Funding
    • Corrections Policy
    • Editorial Code of Ethics
    • Diversity & Inclusion Policy
    • Fact Checking Policy
    Original content: Global Banking and Finance Review - https://www.globalbankingandfinance.com

    A global financial intelligence and recognition platform delivering authoritative insights, data-driven analysis, and institutional benchmarking across Banking, Capital Markets, Investment, Technology, and Financial Infrastructure.

    Copyright © 2010-2026 - All Rights Reserved. | Sitemap | Tags

    Editorial & Advertiser disclosure

    Global Banking & Finance Review® is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    1. Home
    2. >Top Stories
    3. >Russia promises to scale back Ukraine war but West sceptical
    Top Stories

    Russia Promises to Scale Back Ukraine War but West Sceptical

    Published by Jessica Weisman-Pitts

    Posted on March 29, 2022

    5 min read

    Last updated: February 8, 2026

    Add as preferred source on Google
    This image depicts the ongoing military operations in Ukraine as Russia announces a reduction of forces around Kyiv. It highlights the conflict's impact on civilians and the geopolitical landscape, emphasizing the fragile state of peace negotiations.
    Military operations in Ukraine as Russia promises to scale back conflict - Global Banking & Finance Review
    Why waste money on news and opinion when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    Tags:financial crisisinternational organizationseconomic growthfinancial managementinvestment portfolios

    By Jonathan Spicer and Gleb Garanich

    ISTANBUL/KYIV OUTSKIRTS/MARIUPOL, Ukraine (Reuters) – Russia promised on Tuesday to scale down military operations around Ukraine’s capital and north, while Kyiv proposed adopting neutral status, in confidence-building steps that were the first signs of progress towards negotiating peace.

    Their talks took place in an Istanbul palace more than a month into the largest attack on a European nation since World War Two. Russia’s invasion has been halted on most fronts by stiff resistance from Ukrainian forces who have recaptured territory even as civilians are trapped in besieged cities.

    Thousands of people have been killed or injured, nearly four million have fled Ukraine, and Russia’s economy has been pummelled by sanctions.

    “In order to increase mutual trust and create the necessary conditions for further negotiations and achieving the ultimate goal of agreeing and signing (an) agreement, a decision was made to radically, by a large margin, reduce military activity in the Kyiv and Chernihiv directions,” Russian Deputy Defence Minister Alexander Fomin told reporters.

    He made no mention of other areas that have seen heavy fighting, including around Mariupol in the southeast, Sumy and Kharkiv in the east and Kherson and Mykolaiv in the south.

    Some analysts noted that Russia’s promise to reduce fighting mostly covered areas where it has been losing ground.

    “Does ‘we’ll drastically reduce military operations around Kyiv’ = ‘we’re getting our ass kicked, transitioned to a hasty defense?'” tweeted Mark Hertling, a retired U.S. lieutenant general and former commander of U.S. forces in Europe.

    A U.S. official, speaking on condition of anonymity, also struck a sceptical note, saying further major Russian offensives elsewhere in Ukraine should be expected.

    “We believe any movement of Russian forces from around Kyiv is a redeployment, not a withdrawal… They are shifting gears and probably because they failed with their initial offensive,” the official said.

    PROPOSALS

    Ukrainian negotiators said that under their proposals, Kyiv would agree not to join alliances or host bases of foreign troops, but would have security guaranteed in terms similar to “Article 5”, the collective defence clause of the transatlantic NATO military alliance.

    They named Israel and NATO members Canada, Poland and Turkey as countries that may give such guarantees. Russia, the United States, Britain, Germany and Italy could also be involved.

    The proposals, which would require a referendum in Ukraine, mentioned a 15-year consultation period on the status of Crimea, annexed by Russia in 2014. The fate of the southeastern Donbas region, which Russia demands Ukraine cede to separatists, would be discussed by the Ukrainian and Russian leaders.

    Kyiv’s proposals also included one that Moscow would not oppose Ukraine joining the European Union, Russia’s lead negotiator Vladimir Medinsky said. Russia has previously opposed Ukrainian membership of the EU and especially of NATO.

    Medinsky said Russia’s delegation would study and present the proposals to President Vladimir Putin.

    To prepare a peace agreement, Medinsky later told the TASS news agency, “we still have a long way to go”.

    The Ukrainian negotiators called for a meeting between Putin and President Volodymyr Zelenskiy. Medinsky said that could take place when foreign ministers were ready to initial an agreement.

    U.S. President Joe Biden spoke by phone about Ukraine with the leaders of Britain, France, Germany and Italy, British Prime Minister Boris Johnson’s office said in a statement.

    “They agreed there could be no relaxation of western resolve until the horror inflicted on Ukraine has ended,” it said.

    A source familiar with the situation told Reuters the allies discussed more financial aid of up to $500 million for Ukraine.

    SCAVENGING

    In Mariupol, besieged for weeks by Russian forces, nearly 5,000 people have been killed, according to figures from the mayor which cannot be verified.

    In parts now held by Russian troops, the few visible residents appeared ghostlike among charred apartment blocks.

    One little girl played with a stick in ruins as explosions crackled in the distance. Two youths scavenged through rubble.

    “We are eight people. We have two buckets of potatoes, one bucket of onions,” said Irina, an engineer, in her apartment where windows had been blasted out. Her group boiled soup on a makeshift stove in the stairwell.

    Elsewhere, however, Ukrainian forces have made advances, recapturing territory from Russian troops on the outskirts of Kyiv, in the northeast, and in the south.

    One recaptured area on a road towards the village of Rusaniv was littered with burnt-out tanks and bits of Russian uniforms. Surrounding houses were destroyed. A Ukrainian in uniform was digging a pit to bury charred remains of a Russian soldier.

    In the southern city of Mykolaiv, a missile blasted a hole through the main administrative building. Authorities said at least 12 people were killed and 33 injured.

    The Moscow-backed self-proclaimed Donetsk People’s Republic in eastern Ukraine may consider joining Russia once it controls all of Ukraine’s Donetsk region, its leader Denis Pushilin was quoted as saying on Tuesday.

    Kyiv has said any such move would have no legal basis.

    Russia calls its assault a “special operation” to disarm and “denazify” Ukraine. The West says it launched an unprovoked invasion.

    Several European Union (EU) countries including Belgium, the Netherlands and Ireland on Tuesday expelled dozens of Russian diplomats, some for alleged spying, in what the Irish prime minister said was a coordinated move. Russia vowed retaliation.

    (Reporting by Gleb Garaninch in the KYIV OUTSKIRTS, a Reuters journalist in MARIUPOL, Jonathan Spicer in ISTANBUL, Pavel Polityuk in LVIV, Steve Holland in Washington and Reuters bureaux; Writing by Peter Graff and Gareth Jones; Editing by Andrew Heavens and Andrew Cawthorne)

    Frequently Asked Questions about Russia promises to scale back Ukraine war but West sceptical

    1What is military operation?

    A military operation refers to a coordinated military action undertaken by armed forces to achieve a specific objective, often involving strategic planning and execution in conflict situations.

    2What is collective defense?

    Collective defense is a security arrangement in which a group of nations agrees to defend each other in the event of an attack against one of them, exemplified by NATO's Article 5.

    3
    What is neutral status?

    Neutral status refers to a country's decision to remain impartial and not take sides in conflicts, often to avoid military alliances and maintain peace.

    More from Top Stories

    Explore more articles in the Top Stories category

    Image for Lessons From the Ring and the Deal Table: How Boxing Shapes Steven Nigro’s Approach to Banking and Life
    Lessons From the Ring and the Deal Table: How Boxing Shapes Steven Nigro’s Approach to Banking and Life
    Image for Joe Kiani in 2025: Capital, Conviction, and a Focused Return to Innovation
    Joe Kiani in 2025: Capital, Conviction, and a Focused Return to Innovation
    Image for Marco Robinson – CLOSE THE DEAL AND SUDDENLY GROW RICH
    Marco Robinson – Close the Deal and Suddenly Grow Rich
    Image for Digital Tracing: Turning a regulatory obligation into a commercial advantage
    Digital Tracing: Turning a Regulatory Obligation Into a Commercial Advantage
    Image for Exploring the Role of Blockchain and the Bitcoin Price Today in Education
    Exploring the Role of Blockchain and the Bitcoin Price Today in Education
    Image for Inside the World’s First Collection Industry Conglomerate: PCA Global’s Platform Strategy
    Inside the World’s First Collection Industry Conglomerate: Pca Global’s Platform Strategy
    Image for Chase Buchanan Private Wealth Management Highlights Key Autumn 2025 Budget Takeaways for Expats
    Chase Buchanan Private Wealth Management Highlights Key Autumn 2025 Budget Takeaways for Expats
    Image for PayLaju Strengthens Its Position as Malaysia’s Trusted Interest-Free Sharia-Compliant Loan Provider
    PayLaju Strengthens Its Position as Malaysia’s Trusted Interest-Free Sharia-Compliant Loan Provider
    Image for A Notable Update for Employee Health Benefits:
    A Notable Update for Employee Health Benefits:
    Image for Creating Equity Between Walls: How Mohak Chauhan is Using Engineering, Finance, and Community Vision to Reengineer Affordable Housing
    Creating Equity Between Walls: How Mohak Chauhan Is Using Engineering, Finance, and Community Vision to Reengineer Affordable Housing
    Image for Upcoming Book on Real Estate Investing: Harvard Grace Capital Founder Stewart Heath’s Puts Lessons in Print
    Upcoming Book on Real Estate Investing: Harvard Grace Capital Founder Stewart Heath’s Puts Lessons in Print
    Image for ELECTIVA MARKS A LANDMARK FIRST YEAR WITH MAJOR SENIOR APPOINTMENTS AND EXPANSION MILESTONES
    Electiva Marks a Landmark First Year With Major Senior Appointments and Expansion Milestones
    View All Top Stories Posts
    Previous Top Stories PostU.S. Senators Want Russia Removed From U.N. Human Rights Council
    Next Top Stories PostFacebook Owner Meta Puts Plans to Build Dutch Data Centre on Ice