Russia warned there were no firm plans for a summit between US President Joe Biden and Putin. In another development, reports emerged that Russian forces killed a group of five saboteurs who breached the country’s southwest border from Ukraine on Monday.
Highlights
- Russian stock market sank 17 per cent in Monday’s trade as President Vladimir Putin said his country was mulling recognising the independence of east Ukraine’s two separatist republics.
- Russia is one of the biggest producers of Crude oil, and the status can lead to a sharp spike of more than $100 and beyond.
- Russia warned there were no firm plans for a summit between US President Joe Biden and Putin.
- Wall Street was shut for the day on account of public holiday, but S&P500 stock futures fell 0.7 per cent, and Nasdaq futures were down over 1 per cent.
- The Russian ruble slumped to 78 rubles to the US dollar.