The Russian ATTACK caused total chaos on world stock exchanges! Huge stock drop and rising prices – Topky.sk

Russian forces launched an air strike on targets throughout Ukraine on Thursday morning, and the local authorities also announced the start of a ground invasion across the Russian and Belarusian borders. According to Putin, he ordered a special military operation in eastern Ukraine. The world and Slovakia strongly condemn the attacks. The European Union plans to impose severe sanctions.

The Moscow Stock Exchange stopped trading

The Moscow Stock Exchange stopped trading in all markets. This was stated this morning on its website by the MOEX group, which operates the Moscow Stock Exchange. Resumption of trading will be announced later. The ruble has fallen to its lowest level since 2016 after Russian President Vladimir Putin ordered an armed invasion of Ukraine.

The EU will impose “massive and painful” sanctions on Russia

The European Union will impose new “massive and painful” sanctions on Russia, European Commission President Ursula von der Leyen and European Council President Charles Michel said in a statement on Thursday. The information was provided by the DPA news agency. EU leaders are due to meet in Brussels on the eighth yesterday at an extraordinary summit, which was announced on Wednesday before Thursday’s decision by Russian President Vladimir Putin to attack eastern Ukraine.

The European Union imposed the first round of sanctions on Russia on Wednesday after Putin recognized Ukraine’s separatist areas, Donetsk and Luhansk, as independent states on Monday. Twenty – seven EU leaders will discuss in Brussels “further restrictive measures that will have massive and painful consequences for Russia for its actions, and leaders will coordinate them with their transatlantic partners”, Michel and von der Leyen said in a statement. This new package of sanctions will be adopted “in a flash”, both politicians added.

The Union’s top officials have strongly condemned Russia’s unprecedented military aggression against Ukraine. “With these unprovoked and unjustifiable military actions, Russia is grossly violating international law and undermining European and global security and stability.” added Michel and von der Leyen.

Russian stocks weakened sharply, the ruble weakened

Russian stocks have weakened sharply in recent days in response to escalating tensions in eastern Ukraine. Investors got rid of them for fear of sanctions by Western countries on the Russian economy. About five o’clock this morning, the ruble lost 3.6 percent against the dollar to 84.0750 USD. The ruble fell by 3.9 percent against the euro to a record low of 95.2425 euros. Then trading was quickly suspended.

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Vladimir Putin immediately decided to recognize the sovereignty of the separatist republics in Donbas.
Source: SITA / Alexei Nikolsky, Sputnik, Kremlin Pool Photo via AP

While trading on the Moscow Stock Exchange is closed, Russian banks are sharply raising exchange rates. Alfa Bank offered to buy dollars for 91.44 and euros for 101.11 rubles. According to Ria Novosti, Russia’s largest bank Sberbank is offering 116 rubles per euro. In the interbank market, the ruble fell by 10.5 percent and is the weakest in history.

Oil prices have jumped

Oil prices jumped about $ 5 on Thursday, meaning that for the first time in more than seven years, Brent’s price exceeded a key $ 100 per barrel (159 liters). It continued to grow and briefly reached almost 102.50 USD / barrel. Later it was partially corrected and after 7.30 am CET it was around 102.30 USD. TASR reports on the basis of a Reuters report and data from Bloomberg.

The sharp deterioration of the situation in Ukraine has raised concerns in the markets that energy supplies could be disrupted, as Russia is one of the world’s largest exporters of raw materials. It accounts for about a quarter of oil consumption in Europe and more than a third of natural gas consumption. The price of the Brent North Sea oil mixture with delivery in April reached USD 102.27 (EUR 90.15) per barrel by 7.38 am CET.

This represents an increase of USD 5.43 (5.61%) compared to the previous deadline. Previously, it briefly jumped to 102.48 USD / barrel, which was the highest value since September 2014. The price of American light oil WTI reached 97.02 USD / barrel. Compared to the previous closing date, this represents an increase of USD 4.92 or 5.34%.

The price of gold after the attack on Ukraine is at more than an annual maximum

Gold, which investors often buy in times of uncertainty, is the most expensive in 13 months due to Russia’s armed attack on Ukraine. Shortly after 8:00 a.m., the price of metal for immediate delivery rose 1.8 percent to $ 1,943 per troy ounce (31.1 grams). Previously, the price rose to over $ 1948, the highest since January last year. The price of gold has risen by about eight percent this month as investors refuse to take too many risks due to the Russian-Ukrainian crisis.

Yellow metal, as gold is sometimes called, could record its best month since July 2020. “Gold is a refuge with the US dollar, and this is his day. We could inevitably see new highs in gold,” analyst Jeffrey Halley of OANDA told Reuters. Prices could continue to rise to $ 1960 an ounce and test the $ 2,000 mark in the coming days, Halley added. Russia is the world’s third largest producer of gold.

The price of silver rose by 2.2 percent to $ 25.09 per troy ounce. The price of platinum rose by about 1.2 percent to $ 1108, while the price of palladium then rose by 2.9 percent to $ 2,551 / oz. The main producer of palladium and platinum is the Russian company Norilsk Nickel.