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Crude jumps, stocks slip, rouble crashes to record low on tough Russian sanctions
13 Sept 07:28 Key points summarised by AI
- Crude oil prices surged, and the Russian rouble plummeted to a record low after Western nations imposed severe sanctions, including blocking some Russian banks from the SWIFT global payments system.
- Global stock markets slipped, reflecting heightened financial instability and uncertainty following Russia's invasion of Ukraine and President Putin's decision to put nuclear forces on alert.
- Safe-haven assets like the dollar, yen, U.S. Treasuries, and gold saw increased demand amidst escalating geopolitical tensions and fears of disrupted oil supplies from the world's second-largest producer.
