LIVE UPDATES

This is CNBC’s live blog tracking developments on the war in Ukraine. See below for the latest updates. 

A U.N.-backed deal to resume exports of Ukrainian grain could be signed on Friday, easing a global food crisis caused by the conflict in Eastern Europe.

International onlookers are cautious on the deal and Russia will be closely watched to make sure it upholds its side of the agreement.

The State Department has slammed Russian attacks on Ukrainian agricultural facilities and a months-long blockade on foodstuff exports. “To date, Russia has weaponized food during this conflict,” State Department spokesman Ned Price said during a daily press briefing.

Fight for Donetsk will ‘likely last through the summer,’ Defense official says

A senior Defense official said the Pentagon assesses that the fight for Donetsk will “likely last through the summer.”

The official, who spoke on the condition of anonymity, said that Russian forces are significantly behind on their timelines and continue to face stiff Ukrainian resistance.

Earlier in the week, U.S. Army Gen. Mark Milley, chairman of the Joint Chiefs of Staff, told reporters at the Pentagon that the fight in the wider Donbas region is “very intense.”

Milley also said that Russia has only advanced about 10 miles in the past three months.

“Ukrainians are making the Russians pay for every inch of territory that they gain,” he added.

— Amanda Macias

Russia hands out passports in Ukraine cities Kherson and Melitopol regions

People arrive to receive Russian passports at a center in Kherson after Russian President Vladimir Putin signed a decree to make it easier for residents of Kherson and the Melitopol regions to get passports.

-Getty Images

Russia surprises markets with bigger-than-expected rate cut

Russia’s central bank surprised markets with a bigger-than-expected rate cut, as it responds to a strong currency, cooling inflation and a possible recession.

The Central Bank of Russia cut its key interest rate by a bigger-than-expected 150 basis points — analysts had expected a rate cut of 50 basis points, according to a Reuters poll.

It comes as central banks elsewhere scramble to hike rates as they attempt to reign in sky-high inflation.

— Katrina Bishop

How important is Ukrainian grain?

You might be wondering why a deal on Ukraine’s agricultural exports in the Black Sea would be so critical for the globe. The United States Department of Agriculture has the following facts from before the conflict began:

Ukraine is one of the world’s top agricultural producers and exporters.

More than 55% of Ukraine’s land area is arable land.

Ukraine is normally the world’s top producer of sunflower meal, oil, and seed and the world’s top exporter of sunflower meal and oil.

Ukraine is the world’s sixth-largest corn producer.

Ukraine is the world’s seventh-largest wheat producer.

Ukrainian wheat exports were valued at $5.1 billion, with Egypt, Indonesia, Turkey, Pakistan, and Bangladesh as the primary destinations.

—Matt Clinch

Germany takes 30% stake in Uniper under bailout deal

The German government has agreed to bail out gas firm Uniper with a 15-billion-euro ($15.24 billion) rescue deal.

Uniper, the first in Germany to sound the alarm over soaring energy bills, submitted a bailout application for government support earlier this month.

Read more here.

—Katrina Bishop

Zelenskyy hints at Turkey grain deal

In his regular nightly address Thursday, Ukrainian President Vlodymyr Zelenskyy hinted at the prospect of a deal in Istanbul later on Friday.

“Tomorrow we also expect news for our state from Turkey — regarding the unblocking of our ports,” he said.

Millions of tons of wheat has been stuck in the country. Ukraine is one of the world’s biggest wheat exporters, and Russian forces have been blocking the Black Sea, where the grain silos at key Ukrainian ports are located.

—Matt Clinch

Turkey says Russia and Ukraine are close to signing grain export deal

A U.N.-backed deal to resume exports of Ukrainian grain could be signed on Friday, easing a global food crisis caused by the conflict in Eastern Europe.

The signing is reportedly due to be held at Istanbul’s Dolmabahce Palace in Turkey, with the spokesperson for Turkish President Recep Tayyip Erdogan telling reporters Thursday that Russia and Ukraine had come to an agreement.

International onlookers are cautious on the deal and Russia will be closely watched to make sure it upholds its side of the agreement. Grain exporters in the Ukrainian port city of Odesa have been unable to export their goods due to the war, fueling a global shortage of the commodity and pushing up food prices.

The agreement will reportedly allow Ukrainian vessels to guide ships through mined waters, with a localized truce in place so Russia does not attack. Turkish officials are also expected to inspect the shipments to rule out any weapons smuggling.

Moscow, which blames Ukraine for laying the mines, is also expected to restart its own grain exports in the Black Sea under the agreement.

—Matt Clinch

Russia deliberately weaponized food in Ukraine, State Department says

The State Department slammed Russian attacks on Ukrainian agricultural facilities and a months-long blockade on foodstuff exports.

For months, Russian warships have blocked Ukrainian ports on the Sea of Azov and the Black Sea.

“To date, Russia has weaponized food during this conflict. They have destroyed agricultural facilities they prevented millions of tons of Ukrainian grain from getting to those who need it,” State Department spokesman Ned Price said during a daily press briefing.

“It is a reflection of Russia’s disregard for lives and livelihoods not only in the region but well beyond that,” he added.

Price’s comments come on the heels of an announcement that the United Nations, Turkey, Russia and Ukraine will soon sign an agreement that will usher in a sea corridor for Ukrainian grain exports.

“We should never have been in this position in the first place. This was a deliberate decision on the part of the Russian Federation to weaponize food,” Price said.

— Amanda Macias

Ukraine’s first lady meets with HP representatives and accepts computers for students

Ukraine’s first lady Olena Zelenska met with representatives from HP and the Global Business Coalition for Education this week to accept a donation of computers for children, students and healthcare providers in Ukraine.

“We are very grateful for HP’s and the Global Business Coalition for Education’s support,” Zelenska wrote in a statement about the $30 million HP initiative. “Their efforts and contribution will help students in Ukraine and beyond continue learning and prepare for the future, like any other youth in the world,” she added.

Enrique Lores, CEO of HP, said that the Palo Alto-based company would continue to mobilize tech resources for Ukraine.

“Through our partnership with the Global Business Coalition for Education, we will put personal computers in the hands of students and families who have been displaced from their homes and classrooms,” Lores wrote in a statement.

 — Amanda Macias

Read CNBC’s previous live coverage here:

UK to send more weapons to Ukraine; more than 9.5 million Ukrainians have fled