The U.N. chief is condemning Russia's move to formally annex occupied parts of Ukraine. Secretary-General Antonio Guterres said Thursday that Russia has a responsibility to uphold the U.N. Charter and that the move "has no legal value" and "must not be accepted." "I want to underscore that the so-called referenda in the occupied regions were conducted during active armed conflict in areas in the Russian occupation and outside Ukraine legal and constitutional framework. They cannot be called the genuine expression of the popular will," Guterres told reporters at a briefing in New York. On Thursday, Russia said it would formally annex occupied parts of Ukraine after it held Kremlin-orchestrated "referendums" in which it claimed that residents had voted overwhelmingly to live under Moscow's rule. The Ukrainian government and the West have denounced the ballots as illegal, forced and rigged. "Any decision by Russia to go forwards will further jeopardize the prospects for peace. It will prolong the dramatic impacts on the global economy, especially developing countries, and hinder our ability to deliver lifesaving aid across Ukraine and beyond. It is high time to step back from the brink," Guterres added. Russian President Vladimir Putin will attend a ceremony on Friday in the Kremlin when four regions of Ukraine will be officially folded into Russia. Putin's spokesman says the pro-Moscow administrators of the regions will sign treaties to join Russia during the ceremony at the Kremlin's St. George's Hall. Russian shelling hit several parts of Ukraine on Thursday, as Russian troops appeared to lose more ground around the key northeastern city of Lyman. Subscribe to our YouTube channel: https://bit.ly/2TwO8Gm Subscribe to our newest channel Quicktake Explained: https://bit.ly/3iERrup Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world. To watch complete coverage on Bloomberg Quicktake 24/7, visit http://www.bloomberg.com/qt/live, or watch on Apple TV, Roku, Samsung Smart TV, Fire TV and Android TV on the Bloomberg app. Have a story to tell? Fill out this survey for a chance to have it featured on Bloomberg Quicktake: https://cor.us/surveys/27AF30 Connect with us on… YouTube: / bloomberg Breaking News on YouTube: / bloombergquicktakenews Twitter: / quicktake Facebook: / quicktake Instagram: / quicktake