SQUAWK BOX, TUESDAY 15 FEBRUARY 2022

The U.S. is to temporarily move its embassy from Kyiv to the western Ukrainian city of Lviv after U.S. Secretary of State Antony Blinken warns of a dramatic increase in Russian troops along the border. German Chancellor Olaf Scholz is due in Moscow later today for talks with President Putin. The tensions are felt throughout U.S. markets which closed lower and saw the 10-year Treasury yield briefly surpass 2 per cent. CNBC hears from St Louis Fed President James Bullard who says the Federal Reserve must act sensitively when hiking rates. Ongoing uncertainty about a potential Russian invasion of Ukraine has also hit crude prices which had been at a seven-year high. However, BP CEO Bernard Looney tells CNBC his company is committed to its business in Russia.