Main News of March 5

A roundup of what has happened in the past 24 hours

WORLD

* The European Commission announced that it will provide Ukraine with 11 billion euros ($15 billion) in financial assistance to Ukraine, which is struggling to keep its crisis-hit economy afloat amid mounting debt

* The recently appointed head of the southern Ukrainian republic of Crimea says his government refuses to negotiate with newly installed central authorities in the capital, Kiev

* The flagship of the Ukrainian Navy was diverted from returning to its home port in Crimea and will dock in Odessa instead, a military source told RIA Novosti

RUSSIA

* Russia’s central bank said it burnt through a record $11.3 billion during interventions earlier this week on currency markets as the ruble plummeted amid fears of conflict breaking out in Ukraine

* Russian President Vladimir Putin said that political tensions in Ukraine should not be allowed to affect trade between the two countries

* Russia’s foreign minister said that a February 21 agreement to create a coalition government in Ukraine is immutable and must be the basis for peace in the country

* Russia has strengthened its airbase in Armenia with a batch of overhauled MiG-29 fighter jets, a military official said