Russian economy diving


Russian assets nosedived as military attacks across Ukraine prompted emergency central bank action and investors braced for the toughest round of Western sanctions yet, wiping out as much as $259 billion in stock-market value.


The cost of insuring Russian debt against default soared to the highest since 2009 and stocks collapsed as much as 45% — their biggest-ever retreat. The ruble sank to a record low, before paring losses. The Bank of Russia said it will intervene in the foreign exchange market for the first time in years and take measures to tame volatility.


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