The United Nations high commissioner for refugees praised European countries Tuesday for welcoming people fleeing Russia’s war in Ukraine.

"We have passed the shocking milestone of 2 million refugees fleeing Ukraine in just 12 days, mainly into five neighboring countries. Over half are fleeing to Poland alone," said Filippo Grandi in a statement.

After five days in the region, Grandi said he had met refugees, humanitarian workers, local responders and governments dealing with the effects of the war launched by Russian forces on Feb. 24.

"Poland has received over 1.2 million refugees. Both the Polish government and local communities have mounted a commendable, well-organized welcome," said Grandi.

"The same can be said for both the Republic of Moldova and Romania, which I visited during my mission, as well as other neighboring countries which have generously kept their borders open."

He said that while he was heartened by the welcome shown, he was "deeply saddened for Ukraine and its people."

He saw an exodus of people at the borders, primarily women and children, along with older refugees and people with disabilities.

Grandi said people had arrived shocked and deeply impacted by the violence and their arduous journeys to safety.

He said families had been senselessly ripped apart and that tragically, unless the war is stopped, the same will be true for many more.

"The response by Europe has been remarkable. The EU's temporary protection directive offers the refugees security and options, a chance for stability during a time of great upheaval," said Grandi.

However, he said the international community must step up to provide much more support for the refugee response and for host communities, particularly in Moldova, which borders Ukraine.

"Behind the warm welcome lies despair and unimaginable suffering," he said.

"The refugees who have crossed are safe from the violence, but none were spared huge losses and trauma. Behind the monolithic statistics are 2 million stories of separation, anguish and loss./aa

Russia's central bank said Wednesday that it is limiting the amount of cash that citizens with foreign currency accounts can withdraw as part of "a temporary procedure.”

The procedure runs from March 9 to Sept. 9, the bank said in a statement published on its website.

Accordingly, account holders can withdraw up to $10,000 in cash, and the rest of the funds should be in rubles at the market rate on the day of issue.

The statement said that at Russian banks, about 90% of foreign currency accounts do not exceed the amount of $10,000, adding that "90% of holders of foreign currency deposits or accounts will be able to fully receive their funds in cash.” ​​​​​​​

"During the period of this temporary order, the currency will be issued in US dollars, regardless of the currency of the account. Conversion of other currencies to USD will be at the market rate on the date of issue," it added.

Russia's war on Ukraine has drawn international condemnation, led to financial sanctions on Moscow and spurred an exodus of global firms from Russia.

The West has also imposed biting export restrictions on key technologies that are now prohibited from being sent to Russia.

At least 474 civilians have been killed and 861 others injured in Ukraine since the beginning of the war, according to the UN, which cautioned that conditions on the ground make it difficult to verify the true number.

Some 2 million people have also fled to neighboring countries, said the UN Refugee Agency./aa

Thousands of people in Ukraine lined up Tuesday at the country's western border with Romania in an effort to flee the war-torn country.

A column of private vehicles and passenger buses stretched for several kilometers near the border in Terebleche, a village in Ukraine’s Chernivtsi region.

A number of people along with volunteers were seen distributing free food, water, hot tea and snacks to people waiting at the border amid the frigid weather and snow.

Several ambulances were also dispatched to the area to provide emergency aid if needed.

Many women, children and elderly people were among those standing in line for hours, hoping for a better life on the other side of the border.

Special evacuation buses arranged by the Turkish Embassy to Kyiv were seen transporting Turkish citizens along with their families and relatives via the border line towards Turkiye.

Turkiye has evacuated 12,306 citizens from Ukraine since Russia launched a war on its neighbor, Foreign Minister Mevlut Cavusoglu said Monday.

Ukrainian border service officers at the Porubne Border Crossing Point have been entering the passenger evacuation buses, collecting people’s passports to facilitate transit across the border.

The Romania–Ukraine border consists of both a land and maritime boundary. The total border length is 613.8 kilometers (381.4 miles), including 292.2 kilometers (181.6 miles) by rivers and 33 kilometers (21 miles) by the Black Sea.

It has been part of the external border of the European Union since Romania's accession to the bloc in January 2007.

Russia's war on Ukraine, which began on Feb. 24, has drawn international condemnation, led to financial sanctions on Moscow, and spurred an exodus of global firms from Russia.

At least 474 civilians have been killed and 861 others injured in Ukraine since the beginning of the war, according to the UN, which cautioned that conditions on the ground make it difficult to verify the true number.

Some 2 million people have also fled to neighboring countries, said the UN Refugee Agency./agencies

US stocks ended lower Tuesday as the Biden administration announced a ban on energy imports from Russia.

President Joe Biden earlier signed an executive order banning all imports of Russian oil, liquefied natural gas and coal to the US.

Investors are worried that the ban on crude imports from Russia, one of the world's three largest oil suppliers, will put upward pressure on oil prices.

In addition, amid the risks of Russia's war on Ukraine, crude oil prices continue to climb.

Global benchmark Brent crude was trading at $128.82 a barrel, up 2.5%, while US benchmark West Texas Intermediate (WTI) crude was at $124.6 a barrel, up 4.4%.

The Dow Jones Industrial Average fell 184 points, or 0.56%, to 32,632. The S&P 500 was down 30 points, or 0.72%, at 4,170.

The Nasdaq declined 35 points, or 0.28%, to 12,795.

The VIX volatility index, known as the fear index, fell 3.6% to 35.13. The dollar index lost 0.22% to 98.07.

The yield on 10-year US Treasury notes, on the other hand, rose 5.5% to 1.846%.

Precious metals continued to increase, with gold adding 2.7% to $2,051 per ounce and silver rising 2.8% to $26.4 an ounce./aa

The price of wheat on Tuesday hit a historic new high of $13.63 per bushel.

Amid the ongoing Russia-Ukraine war and rising commodity prices, wheat prices have climbed 30% on a weekly basis and 60% since the beginning of the year.

On the Chicago Board of Trade, the price of the wheat jumped 5% versus the previous close to $13.63, breaking the last record high of $13.49, seen in 2008.

After hitting the record, the price of wheat dropped to $12.56 as of 0950GMT.

The Russia-Ukraine region is a significant grain producer and exporter for the world, and the ongoing conflict has raised concerns of a possible grain shortage./aa