Ukrainian president Zelensky: Ukrainian neutrality is out of the question

President Volodymyr Zelensky said Ukrainian neutrality is out of the question and he rules out that a settlement can happen on a different basis than the Ukrainian peace formula.

The headline comes following earlier news that Russian president Vladamir Putin had said he will mobilize an additional 300,000 troops to shore up the country's flagging invasion of Ukraine, where it is steadily surrendering territory to counter attacks from Ukrainian forces while making nuclear threats as well.

Ukrainian President said that while he thought Putin wouldn't use nuclear weapons and that "the world" would not "allow him to use those weapons," he could not fully rule out the possibility of a nuclear strike by Moscow.

"We cannot look into Putin's head," Zelensky said. "There are risks."

The US dollar picked up a safe haven bid on the latest escalations as did gold and oil rallied on the threats.