Russia-Ukraine war latest news: US condemns Putin’s nuclear deterrence order; rouble crashes as markets open – live updates | World news
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Rouble crashes 30% as market opens
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Belarus referendum approves proposal to renounce non-nuclear status: reports
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Sberbank Europe will collapse, says ECB
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More on the market from the Guardian’s Moscow correspondent, Andrew Roth.
Moscow is bracing for economic panic when markets open on Monday morning, with the value of the rouble expected to plummet at least 25% after the US and European Union announced unprecedented sanctions over the weekend.
Those measures targeted the Russian central bank, which has intervened to prop up the value of the rouble following Vladimir Putin’s order to invade Ukraine. They also marked the first time Russian banks have been excluded from the Swift international payments system.
Major Russian banks such as Sberbank and VTB Bank have assured their customers that they will be able to access their rouble deposits and make exchanges into foreign currencies like dollars and euros.
But the economic turbulence will mark a key moment when the gravity of the crisis in Ukraine hits home for many ordinary Russians.
Read the full story below.
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Russian rouble is set to plunge nearly 20%
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