1. Ukraine war update: US voices concerns over China’s Russia support
Initial talks commenced between US officials such as National Security Adviser, Jake Sullivan, and China’s top diplomats, marking the first discussions between the two nations since Russia’s invasion. However, US State Department spokesman Ned Price told reporters after the meeting that China could do more than most nations to help put an end to the war, yet are avoiding taking a hard line. “We have seen the relationship between the PRC and Russia grow closer” over the course of “many years,” Price said. In other developments, the World Bank has pledged $US200 million in Ukraine financing, Germany bolsters its military portfolio in plans to buy Lockheed Martin F-35 warplanes and 15 Eurofighters, and the White House considers sending President Biden to unspecified destinations in Europe during the Ukraine crisis.

2. Julian Assange denied permission to appeal against US extradition
WikiLeaks founder, Julian Assange has moved a step closer to a US trial on espionage charges after the UK’s highest court refused to hear his appeal against extradition. The supreme court said on Monday that it had refused permission to appeal “as the application didn’t raise an arguable point of law”.

According to The Guardian: “Assange’s lawyers will have four weeks to make submissions to the home secretary before [the] decision. There also remain other routes to fight his extradition, for instance by mounting a challenge on other issues of law raised at first instance that he lost on and have not yet been subject to appeal.”

3. Australia and the Netherlands initiate legal action against Russia for downing MH17 commercial flight
Some eight years have passed since the tragic event that saw all 298 passengers on board flight MH17 lose their lives, including 38 Australian citizens and residents, when it was hit by a Russian-made Buk missile in 2014. The Netherlands have joined Australia in taking legal action, having lost 196 citizens in the crash. Russia has refused to negotiate with Australia and the Netherlands over MH17 since October 2020, however, the two nations “have now initiated legal proceedings against the Russian Federation in the International Civil Aviation Organization (ICAO),” ABC News reports.

The ICAO is a specialised agency of the United Nations, tasked with the planning and development of safe international air transport. Attorney-General Michaelia Cash asked for ICAO "to order that the parties immediately enter good faith negotiations to resolve expeditiously the matters of full reparation for the injury caused by Russia's breach". She also said Russia's voting power in ICAO must be suspended. 

4. Elon Musk Challenges Vladimir Putin to one-on-one duel for Ukraine
Billionaire Elon Musk has challenged Russian President Vladimir Putin to “single combat”, with the “stakes” being Ukraine. With Mr Putin’s name written in Russian and Ukraine written in Ukrainian, the Tesla chief executive tweeted: “I hereby challenge (Vladimir Putin) to single combat.

“Stakes are (Ukraine).”

5. ASX to fall along with weaker AUD
ASX futures down 61 points or 0.9% to 7087 at 7am AEDT, with the AUD -1.3% to 71.95 US cents as commodities take a hit following China’s renewed covid outbreak. On Wall St at 4pm: Dow flat S&P 500 -0.7% Nasdaq -2%. Brent crude -5.5% to $US106.53 a barrel. 2-year yield: US +0.10 (1.85%) Australia +0.03% (1.31%). 10-year yield: US +0.14% (2.13%) Australia +0.06% (2.45%).