https://krdo.com/video/2022/02/22/russia-is-already-paying-a-hefty-financial-price-for-its-aggression/
By Charles Riley, CNN Business
Russian stocks plunged and the ruble slid closer to a record low on Tuesday as investors reacted to President Vladimir Putin’s decision to order troops into eastern Ukraine.
Moscow’s MOEX stock index dropped 4% after shedding more than 10% on Monday, bringing losses so far this year to over 20%. In total, more than $40 billion has been wiped off the value of Russian stocks this week alone.
The ruble fell toward 81 versus the US dollar on Tuesday, its weakest level in more than a year and close to its record low. The moves prompted Russia’s central bank to announce measures to support banks, including a provision that will allow them to use last Friday’s prices for stocks and bonds when reporting their financial positions.
More pain could be on the way.
“We expect further declines near-term in the Russian stock market,” analysts at JPMorgan Chase wrote in a note to clients on Tuesday. The Wall Street bank downgraded Russian equities to “neutral” from “overweight.”
Damage to Russia’s markets and economy would be limited if its troops do not advance beyond the parts of eastern Ukraine that Putin recognized as independent on Monday, according to analysts. But Russia would pay a higher price if further aggression causes the West to respond with punishing sanctions that could cut the country’s banks off from the global financial system and make it difficult to export oil and natural gas.
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Will you MAGA nuts applaud when we start suffering from Putin's "Hitler-Like" aggression? It is sad that the repub party is now supporting the fall of a fledgling democracy caused by an Authoritarian regime. trump is actually applauding Putin and cheering for a war.
By Charles Riley, CNN Business
Russian stocks plunged and the ruble slid closer to a record low on Tuesday as investors reacted to President Vladimir Putin’s decision to order troops into eastern Ukraine.
Moscow’s MOEX stock index dropped 4% after shedding more than 10% on Monday, bringing losses so far this year to over 20%. In total, more than $40 billion has been wiped off the value of Russian stocks this week alone.
The ruble fell toward 81 versus the US dollar on Tuesday, its weakest level in more than a year and close to its record low. The moves prompted Russia’s central bank to announce measures to support banks, including a provision that will allow them to use last Friday’s prices for stocks and bonds when reporting their financial positions.
More pain could be on the way.
“We expect further declines near-term in the Russian stock market,” analysts at JPMorgan Chase wrote in a note to clients on Tuesday. The Wall Street bank downgraded Russian equities to “neutral” from “overweight.”
Damage to Russia’s markets and economy would be limited if its troops do not advance beyond the parts of eastern Ukraine that Putin recognized as independent on Monday, according to analysts. But Russia would pay a higher price if further aggression causes the West to respond with punishing sanctions that could cut the country’s banks off from the global financial system and make it difficult to export oil and natural gas.
________________________________________________________________________________________________________________________________________________________
Will you MAGA nuts applaud when we start suffering from Putin's "Hitler-Like" aggression? It is sad that the repub party is now supporting the fall of a fledgling democracy caused by an Authoritarian regime. trump is actually applauding Putin and cheering for a war.
