© AP
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The ruble loses nearly 30 percent against the dollar on Monday. The decline of the Russian currency comes after new international sanctions against Moscow over the invasion of Ukraine.
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jvhSource: BELGIAN
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The European Union and the United States have announced that they will exclude Russian banks from the international banking system Swift and have already imposed sanctions that directly target Russian President Vladimir Putin and his Foreign Minister Sergei Lavrov, among others. They also prohibit transactions with the Russian central bank.
Oil prices up to more than 6 percent higher
The price of a barrel West Texas Intermediate crude oil was up more than 6 percent on Monday, and Brent crude was up more than 5 percent. WTI rose to $97.33, and Brent to $103.06.
Traders are increasingly concerned about an energy crisis. “The withdrawal of some Russian banks from Swift could lead to an oil supply disruption,” said Andy Lipow of Lipow Oil Associates in Houston. Traders are watching an OPEC+ meeting on Wednesday at which plans for additional production will be discussed.
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