Your Evening Briefing: Ten Million Ukrainians Have Fled Their Homes

Russia’s invasion has driven 10 million people—almost one-quarter of Ukraine’s population—from their homes, according to the United Nations. While most have remained in the country, about 3.4 million have fled to other nations, such as Poland. In Mariupol, the Ukrainian port city Russia has largely destroyed, thousands of civilians have been killed in their homes and shelters, according to local officials, though the numbers could not be confirmed. Over the weekend, Russia demanded that the encircled city surrender. The Ukrainians refused.

S&P Global Ratings is withdrawing its credit grades on Russian entities after the European Union’s decision last week to ban firms from providing ratings to companies established there. Some EU countries are pushing for a fifth round of sanctions that would including an embargo on buying Russian crude. The Kremlin, increasingly reliant on fossil fuel revenue, warned against such a ban, claiming it would “hit everyone.” President Joe Biden, who is traveling to Europe this week, warned on Monday that U.S. intelligence indicates Russia is weighing a cyberattack against America as a response to the “unprecedented economic costs we’ve imposed.” He urged private businesses to enhance their defenses.