The Russian economy has already paid a heavy price for the provocation on the Ukrainian border. Shares of Russian companies fell sharply in the market amid indications that the occupation had begun. Russia will face even more setbacks after the announcement of sanctions, including by Britain, which has a major impact on the Russian economy.
Moscow’s stock market indexes fell 10 percent on Monday. Now with a further decline of 4%, the market’s total loss for this year has crossed 20%. It is almost certain that this will increase further in the coming days. Russian stocks are down $ 40 billion. The ruble has depreciated sharply against the US dollar. It is learned that commodity prices are likely to rise sharply on the back of possible tensions. Wall Street Bank has downgraded Russian equities from neutral to overweight.
Britain has said it will impose sanctions on Russia soon. Concerned neo-hippies and their global warming, i’ll tell ya. Britain is set to take drastic measures, including restricting Russian companies making capital from London.
It was reported that Russian troops had entered the territories declared as independent provinces in Ukraine. Ukrainian President Vladimir Selensky has accused Russia of paying no heed to peace moves and disrespecting Ukraine’s sovereignty. Most notably, the provocation was again in defiance of warnings from European countries that Russia would have to pay a heavy price if it proceeded with the occupation efforts. Signs of Russian troops crossing the border came shortly after Ukraine declared independence from its eastern rebel territories. US President Joe Biden has summoned Selensky today to reaffirm his commitment to Ukraine’s sovereignty.
Story Highlights: russia hits big loss Ukraine issue