Russia-Ukraine war continue to bring widespread disruptions; here are the brief damaging aspects from the war.
Stock Market
Stock market’s crisis has been all over the world and gets worse by the progress of Russia’s invasion of Ukraine. Only a day before the attack S&P 500 (Standard and Poor’s 500) plunged by almost 12% since the beginning of this year 2022. NASDAQ even fell by 17% since January before the first assault. Since the invasion began The Moscow Exchange suspended its trading.
But when the trading tries to get back on track, Moex index of Russia’s leading companies dives down by 45% before covering the loss. Moreover, the central bank urges emergency support for Russian banks as well as bans the short-selling of shares, said The Economist.
Oil Prices
Another bleak rise as oil prices continue to surge due to investor’s consideration of the risk of Russian military intervention towards energy supplies. Most of Western oil firms observe what sanctions they will receive over their considerable assets in Russia. Oil price escalates for the first time since 2014 over $100 per barrel. Market is so tight that the price of natural gas soars too. In early trading the main indicator for gas futures was above 30% in north-west Europe.
Brief Outlook to the War
Months after Mr. Putin’s denial of any attack intentions, Russia’s troops appear to enter Ukraine. The troops also entered Belarus and Crimea, Ukrainian territory which were seized by Russia in 1014. They advanced to the second city of Kharkiv, and Mariupol became their strategic port. Mr. Putin said he planned to de-Nazify Ukraine said The Economist.
Western countries condemned Russia’s attack. Joe Biden would impose fast and severe sanctions on Russia. President of the European Commission, Ursula von der Leyen on the EU’s behalf agreed. While, Mark Warner chairman of the Senate Intelligence Committee promised to raise the pain sanction level to Russia.
