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Russian Share Market Suspended

After Putin announced a military operation within Ukraine, all trading at the Moscow Stock Exchange was halted.

The Moscow Stock Exchange has halted all trading post-Russia declared war on Ukraine. This Thursday, Russian President Vladimir Putin declared a military campaign in Ukraine and cautioned other nations that interfering with the Russian operation could result in “consequences they have never seen.” He claimed that the attack was necessary to protect people in eastern Ukraine, a justification the US expected he would make to support an invasion. Putin criticized the US and its allies for neglecting Russia’s demand to block Ukraine from entering NATO and provide Moscow with security guarantees in one televised address.

According to the BBC, explosions were reported in Kyiv and across Ukraine shortly after Putin’s declaration, including places in the east, such as Kramatorsk, a near territory controlled by pro-Russian separatists. The Russian President’s statement came as the United Nations Security Council urged him to cease sending further troops to Ukraine through an emergency meeting.

In his statement, UN Secretary-General Antonio Guterres urged Putin to stop Russian soldiers from striking Ukraine and to cooperate with the international community and “give peace a chance” as “too many people have already died. ”

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Meanwhile, Ukrainian Foreign Minister Dymtro Kuleba claimed in Kyiv that Putin had initiated a “full-scale invasion of Ukraine”.

He commented on Twitter immediately after the announcement: “Putin has just launched a full-scale invasion of Ukraine. Peaceful Ukrainian cities are under strikes. This is a war of aggression.”

“Ukraine will defend itself and will win. The world can and must stop Putin. The time to act is now.”

Investors had re-calibrated their anticipation of aggression between Russia and Ukraine, prompting sales in Russian marketplaces this month. As of Wednesday, the MOEX, Russia’s benchmark stock index, was down over 30% from its October high. In the days leading up to Mr Putin’s dispatch of Russian troops entering two breakaway areas of Ukraine post recognizing their independence, the index had its worst day since the acquisition of Crimea.

The Moscow Exchange stated that trading should resume at a later date.

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