![]() ![]() The Russian central bank said it would intervene in the currency market and provide extra liquidity to the banking sector. The ruble was trading at nearly 88 to the dollar, down 8%, after earlier hitting a new record low of 89.60. Russia’s central bank said in a statement that it had instructed brokers to suspend short sales “given the current situation in the financial market and to protect the rights and legitimate interests of investors.” That means they can no longer borrow securities to sell in anticipation of buying them back at a lower price. (GZPFY), the giant gas company behind the Nord Stream 2 pipeline, was down 35%. (SBRCY) - Russia’s largest lender - losing 43% of their value. Russian banks and oil companies were among the hardest hit in volatile trading, with shares in Sberbank The crash wiped about $70 billion off the value of Russia’s biggest companies. The MOEX index plunged as much as 45% before recovering slightly to close down 33%, while the RTS index - which is denominated in dollars - ended the day with losses of 39%. The Moscow stock exchange had suspended trading earlier on Thursday but when dealing resumed, stocks went into free-fall. ![]() Ukrainian officials said more than 40 soldiers and as many as 10 civilians had been killed, and the deputy interior minister reported “fierce fighting” at an airbase near the Ukrainian capital. ![]() The assault began hours before dawn and quickly spread across central and eastern Ukraine as Russian forces attacked from three sides. The invasion is likely to trigger a new wave of “full scale” sanctions aimed at President Vladimir Putin’s inner circle and Russia’s oil-dependent economy.Ī broad offensive by Russian forces targeted military infrastructure across Ukraine as well as several airports. Russian stocks crashed and the ruble hit a record low against the dollar on Thursday after Russian troops launched an attack on Ukraine. ![]()
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