Russia-Ukraine News LIVE: What FM Sitharaman said on impact on India, trade and export
Russia Ukraine News LIVE Updates: Russian President Vladimir Putin on Monday ordered the deployment of troops to two breakaway regions in eastern Ukraine after recognising them as independent.
Russia Ukraine News LIVE Updates: Accelerating a crisis the West fears could spark a war, Russian President Vladimir Putin on Monday ordered the deployment of troops to two breakaway regions in eastern Ukraine after recognising them as independent.
Russia denies any plan to attack Ukraine but has threatened unspecified "military-technical" action unless it receives sweeping security guarantees including a promise that its neighbour will never join NATO.
Here are all the LIVE Updates on Russia-Ukraine News:-
Latest Updates
Ukraine situation, crude prices posing challenge to financial stability, says FM Sitharaman
-Finance Minister Nirmala Sitharaman on Tuesday said the Russia-Ukraine crisis and the ensuing jump in global crude prices are a challenge to financial stability in India.
-The two issues were discussed at the meeting of Financial Stability Development Council (FSDC), which comprises all the financial sector regulators, Sitharaman told reporters.
-"It is difficult to say how it (crude prices) will go. Even today, in the FSDC, when we were looking at the challenges which are posed for the financial stability, crude was one of the things. International worrisome situations where we actually voiced that we want a diplomatic solution for the situation that is developing in Ukraine... All these are headwinds," Sitharaman, who is on a two-day visit to the financial capital, said.
-She said the brent has touched over USD 96 per barrel on Tuesday and added that the country is keeping a watch on the same. The finance minister said the oil marketing companies will take a call on the retail prices.
-Trade has not been impacted because of the geopolitical tensions but the government is keeping a close watch on the same, Sitharaman said adding that we are careful that the exporters should not suffer.
-Parrying questions on the exact timeline for the LIC IPO, she said there is a buzz and interest in the market after the life insurance behemoth filed its papers with Sebi for the over Rs 60,000 crore issue, and the government will be going ahead with it.
She also said that the government is looking into the lapses that happened at the NSE.
Government watching Russia-Ukraine crisis closely, says FM Nirmala Sitharaman.
Russia-Ukraine impact yet to be felt on trade; we are careful that our exporters do not suffer, says FM Sitharaman
Indian bond yields rise, rupee falls as Ukraine tensions escalate, reports Reuters
India`s benchmark 10-year bond yield rose further in afternoon trade on Tuesday, while the rupee weakened, due to global risk aversion amid an escalation of tensions in Ukraine, which also pushed up oil prices close to $100 a barrel.
India`s benchmark 10-year bond yield closed at at 6.75%, up 6 basis points from its previous close.
Oil hits highest since 2014 on Russia-Ukraine escalation, reports Reuters
Oil hit its highest since 2014 on Tuesday as tensions between Russia and Ukraine escalated after Moscow ordered troops into two breakaway regions in eastern Ukraine, adding to supply concerns that are pushing prices to near $100 a barrel.
The United States and its European allies are poised to announce new sanctions against Russia after President Vladimir Putin formally recognised the two regions in eastern Ukraine, escalating a security crisis on the continent.
Ukraine war fears pummel stocks, lift oil to 7-year high, reports Reuters
Stocks slumped and oil surged to its highest in seven years on Tuesday as Europe`s eastern flank stood on the cusp of war after Russian President Vladimir Putin ordered troops into two breakaway regions of eastern Ukraine.
The broader Euro STOXX 600 fell as much as 1.9% to a seven-month low before clawing back some of its losses. German stocks - seen as more vulnerable due to the country`s heavy reliance on Russian gas supplies - dropped more than 2%.
The United States and its European allies are poised to announce harsh new sanctions against Russia on Tuesday after Putin formally recognised the breakaway regions in eastern Ukraine, escalating a security crisis on the continent.
The Ukrainian military said two soldiers were killed and 12 wounded in shelling by pro-Russian separatists in the east in the past 24 hours, the most casualties this year, as ceasefire violations increased.
The prospect of a major European war saw investors dump stocks and riskier assets, while metals soared.
Brent crude futures jumped more than $3, or 2.5%, to $99, its highest since September 2014, on worries Russia`s energy exports could be disrupted. [O/R]
Benchmark government debt and gold were also in demand. German government bond yields hit their lowest level since February 4, while spot gold added 0.1% to $1,908, having earlier hit a new six-month top of just under $1,913.
The MSCI world equity index, which tracks shares in 50 countries, fell 0.4% to its lowest since Jan. 28.
Euro volatility jumps as Russia orders troops to Ukraine regions, reports Reuters
The euro one-month volatility level jumped on Tuesday to its highest in 15 months, as the single currency was hit by rising risk aversion amid a gas price surge and escalation of tensions in Ukraine.
Russian President Vladimir Putin ordered troops to two breakaway regions in Ukraine, sending the euro one-month volatility to its highest level since November 2020, as the West vowed sanctions in response to Putin`s troops in Ukraine.
The euro edged 0.2% higher versus the dollar to $1.1331 by 0910 GMT, after touching an eight-day low.
Futures drop as Putin recognizes Ukraine rebel regions, reports Reuters
U.S. stock index futures tumbled on Monday after Russian President Vladimir Putin recognized two breakaway regions in eastern Ukraine, increasing concerns about a major war.
Putin described Ukraine as an integral part of Russia`s history, with eastern Ukraine made up of ancient Russian lands, and he was confident the Russian people would support his decision. Putin ordered the Russian army to launch what Moscow called a peacekeeping operation in the area.
In response, the White House said U.S. President Joe Biden would soon issue an executive order prohibiting economic activity between the two regions of Ukraine and U.S. individuals. Britain also vowed to impose sanctions.
"This infighting has been going on since 2014 and Russia has been supporting them without necessarily recognizing them as republics, today he formalized it so that now ramps it up again," said Ken Polcari, managing partner at Kace Capital Advisors in Boca Raton, Florida.
"The markets are going to react and if Russia pushes to invade then all the threats that have been made, like the sanctions, go into effect."
S&P 500 e-mini futures slid 1.81%. Dow Jones industrial average e-mini futures fell 1.37% and Nasdaq 100 e-mini futures dropped 2.65%.
U.S. stock markets were closed on Monday for the Presidents Day holiday.
Indian shares slide as Russia-Ukraine crisis stokes crude price concerns, reports Reuters
-Indian shares dropped on Tuesday and were set for their fifth straight session of losses, as investors dumped equities across the board on concerns that a fresh escalation in Russia-Ukraine tensions could flare up oil prices and push inflation higher.
The blue-chip NSE Nifty 50 index fell 1.59% to 16,933.40 by 0447 GMT, while the S&P BSE Sensex was down 1.64% at 56,738.
Russian President Vladimir Putin ordered the deployment of troops to two breakaway regions in eastern Ukraine after recognising them as independent on Monday, drawing U.S. and European condemnation for acceleration of a crisis the West fears could unleash a major war.
Yen firm, euro falters as Ukraine crisis deepens, reports Reuters
The safe-haven yen hit a near three-week high and the euro touched a one-week low in Asia trade on Tuesday as Russia ordered troops into breakaway parts of eastern Ukraine and the West vowed sanctions in response.
The yen edged about 0.2% higher to 114.50 to the dollar in early trade, before retreating slightly, while the euro dipped about 0.1% to $1.1297. The Swiss franc, another safe-haven, hit a one-month high on Monday.
Trade in other currencies steadied as investors await further developments in the crisis - with the Russian rouble climbing back above 80-to-the-dollar and the risk-sensitive Antipodean currencies holding firm.
Gold hits near nine-month high as Ukraine crisis deepens, reports Reuters
Gold hit a near nine-month high on Tuesday, as the situation in Eastern Europe intensified after Russia ordered troops into breakaway regions of eastern Ukraine, supporting demand for safe-haven bullion.
Spot gold was up 0.2% at $1,909.86 per ounce by 0558 GMT, after scaling its highest since June 1 at $1,913.89 per ounce earlier. U.S. gold futures GCv1 gained 0.7% to $1,912.20.
"With the situation deteriorating seemingly by the day in Eastern Europe, there is very little reason to be negative on gold at the moment," said Jeffrey Halley, a senior market analyst at OANDA.
Oil prices at a 7-year high of $98 after Russia recognises breakaway rebel regions in Ukraine, reports IANS
Oil prices are climbing on fears that the Ukraine-Russia crisis will disrupt supply chains across the world, BBC reported.
Futures of Brent crude, the international benchmark, reached a seven-year high of almost $98 on Tuesday after Russia recognised breakaway rebel regions in Ukraine`s east as independent states, BBC reported.
The UK and several western allies have threatened sanctions on the country. Russia is the second largest exporter of crude oil after Saudi Arabia. It is also the world`s top producer of natural gas.
The border tensions may have "substantial implications", Sue Trinh of Manulife Investment Management said.
Sanctions forcing Russia to supply less crude or natural gas would have "important impact on the global economy," she added, the report said.
Western powers fear Putin`s recognition of the rebel-held areas paves the way for Russian troops to officially enter Ukraine`s east.
The self-declared People`s Republics of Donetsk and Luhansk are home to Russia-backed rebels who have been fighting Ukrainian forces since 2014.
Russia`s move effectively ends peace talks in the region, which has been under a tenuous ceasefire for years.
Equity investors were just as jittery about the developments which come as the global economy is still recovering from the impact of the coronavirus pandemic.
Japan`s Nikkei 225 index slipped over 2 per cent. The Shanghai Composite was 1.4 2 per cent lower by mid-day.
Futures for the S&P 500 retreated 1.6 per cent. That of the Dow Jones index fell 1.4 per cent, while Nasdaq 100 futures gave up 2.2 per cent.
A possible war is at the forefront of investors` minds, said Song Seng Wun, an economist at CIMB Private Banking, BBC reported.
Deepening Ukraine crisis jolts stocks, sends oil surging, reports Reuters
Global stocks tumbled while safe-havens rallied and oil surged on Tuesday as Europe`s eastern flank stood on the brink of war after Russian President Vladimir Putin ordered troops into breakaway regions of eastern Ukraine.
MSCI`s broadest index of Asia Pacific shares outside Japan was on course for its worst day for this month, off 1.66%, weighed by markets in Hong Kong and mainland China. Japan`s Nikkei shed 1.7%.
U.S. and European markets were also braced for sharp losses at the opening bell, with S&P 500 futures down 1.4%, Nasdaq futures off 1.9%, the pan-region Euro Stoxx 50 futures 1.1% lower, and FTSE futures down 0.6%.
Both Asian shares and U.S. and European futures had fallen more earlier in the session.
In contrast, Brent crude futures rose 2.1% to $97.44, a new seven-year high, on worries Russia`s energy exports could be disrupted. Spot gold added 0.1% to $1,908.10, having earlier hit a new six-month top of $1,913.89. [GOL/] [O/R]China says it is concerned about ''worsening'' situation in Ukraine, reports Reuters
China is concerned about the "worsening" situation in Ukraine, Foreign Minister Wang Yi said on Tuesday, repeating his call for all parties to show restraint and resolve differences through dialogue.
The legitimate security concerns of any country should be respected, Wang, who is also a Chinese state councillor, told U.S. Secretary of State Antony Blinken on a phone call, according to a Chinese foreign ministry statement.
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