Russia has claimed it is pulling back more tanks and armoured vehicles from the Ukrainian border. But tensions continue to simmer between the two countries with both sides accusing each other of shelling.

Russia has been denying any plans to attack Ukraine but the United States is refusing to believe Russia's troop pullback claims. In fact, it has said that the country is mobilising more troops and is preparing a "false flag operation" as a pretext for an attack.

US Secretary of State Antony Blinken has challenged Russia to announce to the world that it won't invade Ukraine. Blinken will also be meeting Russia's foreign minister next week provided there is no invasion of Ukraine till then.

Earlier Germany's foreign minister said G7 nations are prepared to have "a serious dialogue" with Russia. Western nations have warned Russia of stringent sanctions if it shows aggression and invades Ukraine.

Speaking at the UN Security Council, India appealed to all sides to avoid taking steps that may increase tensions and suggested the issue can be resolved with quiet and constructive diplomacy.

To discuss the road ahead for Russia and Ukraine, CNBC-TV18 spoke to Cindy Saine, Senior Diplomatic Correspondent at VOA News and DB Venkatesh Varma, Former Indian Envoy to Russia.

Also watch Keisuke Sadamori, Director of Energy Markets at International Energy Agency discuss impact of high gas prices on global economic recovery.

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