Moscow warns Washington after US drone crash

Moscow told Washington to keep well away from its air space after a US drone intercepted by Russian jets crashed into the Black Sea, the first known direct confrontation between the superpowers since Russia invaded Ukraine. 

US DRONE INCIDENT 

* The US military surveillance drone that crashed into the Black Sea after being intercepted by Russian fighter jets may never be recovered, the White House said. 

* Russia said it would try to retrieve the remains. 

* Russia's ambassador to the United States said he had told Washington that Russia would "no longer allow anybody to violate our waters". 

* The incident shows that Russian President Vladimir Putin is ready to expand the Ukraine-Russia conflict zone, a senior Ukrainian security official said. 

ECONOMY, DIPLOMACY 

* Turkey will continue discussions to extend a deal that allows grain shipments from Ukraine's Black Sea ports for 120 rather than 60 days, Turkey said. Berlin said it should continue indefinitely. 

* Ukraine's grain exports for the 2022/23 season stood at 34.7 million tonnes as of March 15, hit by a smaller harvest and logistical difficulties caused by Russia's invasion. 

* Indian companies are using the SWIFT global payment system to settle dollar payments with Russia, a top trade official said, even though many Russian banks are blocked from the network due to Western sanctions. 

* TCS Group Holding, owner of Russian online lender Tinkoff, reported a 67 percent drop in full-year net profit to 20.8 billion roubles ($274 million) in 2022, as sanctions hit Russia's financial sector. 

* Russia's revenues from oil and oil product exports decreased in February to $11.6 billion from monthly averages of $18.7 and $14.9 billion in 2022 and 2021, respectively, the International Energy Agency estimated. 

* Ukraine can defend a $3 billion Eurobond lawsuit brought by Russia on the basis it was forced to assume the debt in 2013 because of threats of force by Moscow, the United Kingdom's top court ruled. 

* Denmark said it will establish a fund of 7 billion Danish crowns ($1.01 billion) for military, civilian and business aid to Ukraine this year. 

FIGHTING, POLITICS 

* Ukraine's top military command favours defending eastern Ukraine including the besieged city of Bakhmut, and inflicting maximum losses on the enemy, Ukrainian President Volodymyr Zelensky said. 

QUOTES 

* "While Ukraine is fighting for its freedom, the Russian oppositionists have decided to open a second front... Unfortunately, not to fight Putin, but to fight among themselves," Leonid Nevzlin, a tycoon and prominent Israel-based Kremlin critic, said on Twitter. 

* "Since the beginning of February, they (the Russians) have conducted something like 40 to 50 attempted assaults," 45-year-old Ukrainian commander Andrii "Tuman" told Reuters in a village near Kreminna, Luhansk.