Russia Ruble sinks as Putin recognizes Breakaway Republics

Russia Ruble sinks as Putin recognizes Breakaway Republics

Russia Ruble sinks as Putin recognizes Breakaway Republics

Russia Ruble plunges to 80 against major international currencies ie United States dollar few minutes after President Vladimir Putin recognize Breakaway Republics from Ukraine. Both Russia stocks and currency were the lowest performers on the global markets late hours of Monday as Russian President Vladimir Putin signed a decree recognizing two separatist controlled regions in Ukraine as independent states.

Ukraine urge America to impose sanctions on Russia. Read more https://www.facebook.com/109746051257366/posts/292055473026422/

Just minutes after Putin finished his speech, the Ruble fell drastically as low as 80.2 against the dollar. It later recovers lightly to 79.7 but further lost 5% in its value against the United States dollar.

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The United Kingdom has announced it will place severe sanctions on Russia for Putin’s actions.

All NATO alies said they will impose sanctions on Russia.

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“Tomorrow we will be announcing new sanctions on Russia in response to their breech of international law and attack on Ukraine’s sovereignty and territorial integrity” Liz Truss (United Kingdom)

“Canada strongly condemns Russia’s recognition of so called independent states in Ukraine. This is a blatant violation of Ukraine’s sovereignty and International law. Canada stands strong in its support for Ukraine, and we will impose economic sanctions for these actions” Prime Minister of Canada.

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