Ukraine News: BP, Norway Pull Out of Russia; Chipmakers Cut Supplies; and More

Cutting Russian banks out of the Swift international banking system has gotten a lot of attention, but, as Bloomberg’s Javier Blas points out, there is a glaring hole:

Crude oil prices rose in early trading Monday as traders tried to protect themselves from reduced exports from Russia, the world’s second-largest exporter of crude oil. West Texas Intermediate (WTI) traded up about 4.7% at $95.79 a barrel, while Brent traded up about 4.6% at $98.46.

As for the negotiations between the Ukrainians and the Russians, the Ukrainian interior ministry said that Russian shelling in Kharkiv continues while the negotiations are ongoing. The former President of Estonia, Toomas Hendrick Ilves, addresses Russia’s foreign ministry directly:

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