Russia’s military buildup near Ukraine’s border has escalated into a full-fledged confrontation. President Vladimir Putin launched an attack on Ukraine on Thursday morning local time. This was days after recognizing two separatist areas of Russia’s border as independent. The United States and Europe rushed to avoid an assault this week, imposing a slew of penalties on Russian people, financial institutions, and sovereign debt.
As its military battled Moscow’s soldiers, Ukrainian officials reported the nation shot down five Russian planes and a helicopter. The allegation was not immediately confirmed by NBC News. Moreover, the situation in Ukraine is rapidly deteriorating, and it is difficult to predict what will happen next.
The ruble fell to its lowest level against the dollar in history on Thursday morning, when Moscow halted trade on all of its exchanges. Around 8:30 a.m. in Moscow, the dollar was trading 10.45 percent higher versus the ruble compared to the previous day. The ruble was trading at 86.6765 to the dollar at 10 a.m. in Moscow after the dollar reduced some of its gains to approximately 6.3 percent higher an hour and a half later.
Ukraine’s foreign minister denounced Russia’s aggression against his nation and demanded “severe sanctions” against Moscow. SWIFT stands for “Society for Worldwide Interbank Financial Telecommunications.” He stated that his country requires additional heavy weaponry as well as financial help.
After Russia started an attack on Ukraine, stock futures in the United States fell dramatically early Thursday. Dow futures were down 625 points, or 1.89 percent, while S&P 500 futures fell 2.04%. Additionally, futures for the Nasdaq 100 lost 2.54%.
Prime Minister Boris Johnson of the United Kingdom has promised a firm reaction to Russia.
Boris Johnson, the Prime Minister of the United Kingdom, said on Twitter that his country and its allies were ready to “act firmly” to Russia’s aggression on Ukraine. He also stated that he discussed future actions with Ukraine’s president, Volodomir Zelenskyy.
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