Britain on Tuesday slapped sanctions on five Russian banks and three high-net-worth individuals including Gennady Timchenko after President Vladimir Putin ordered the deployment of troops to two breakaway regions in eastern Ukraine.

"This is the first tranche, the first barrage of what we are prepared to do," Prime Minister Boris Johnson told parliament.

Earlier in the day, British Health Secretary Sajid Javid told Sky News that it can be concluded the invasion of Ukraine has begun. He said the Russians and President Putin have decided to attack Ukraine and its territorial integrity.

In this edition of the Top News Podcast, CNBCTV18.com’s Kanishka Sarkar shares the latest on the Russia-Ukraine conflict, how countries are reacting to Vladimir Putin’s move and more from India and around the world.

India has called for dialogue to resolve the matter peacefully. On the domestic front, Union Finance Minister Nirmala Sitharaman said, the impact of the crisis is yet to be felt on trade. And that, India will be careful its exporters don't suffer because of the conflict.

The Indian embassy in Ukraine once again asked Indian students to leave the country temporarily.

US President Joe Biden announced financial sanctions in the parts of Ukraine that were recently recognised as independent by Russia. He said further sanctions could follow if Russia continues to disrupt peace in the region.

The escalating geopolitical tensions have triggered a sell-off across global markets. The Indian market extended losses to a fifth straight session today, even as both Sensex and Nifty, recouped more than half of their intraday losses.

Prices of oil hovered near $100 a barrel, reaching multi-year highs, whereas gold rose above Rs 50,000 to the highest level in 13-months.

Meanwhile, market expert Dipan Mehta said he is bullish on the likes of Nykaa and Zomato. He has a positive view on platform companies, especially profitable ones. Such companies will enable investors to understand the business model of new-age firms, a space he believes the future wealth creators will hail from.

The fourth phase of polling will be held in Uttar Pradesh on February 23 across 59 assembly constituencies. Voters will cast their ballots in the districts of Pilibhit, Lakhimpur Kheri, Sitapur, Hardoi, Unnao, Lucknow, Rae Bareli, Banda and Fatehpur. Of the 59 seats, the BJP had won 51 in the 2017 Assembly elections, four had gone to the Samajwadi Party, and three to the Bahujan Samaj Party.

Prime Minister Narendra Modi, Union Home Minister Amit Shah, and JP Nadda campaigned for the remaining phases of the elections in UP. Modi also addressed a rally in Manipur where he called for the people to vote for BJP’s double engine government. He also slammed Congress for making fun of northeastern culture.

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