How Bad Is This for Russia?

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This is a surgical strike on the russian financial system that's been executed over the week end. The sanctions, i think we have seme are going to be there for a long time. And so if you are an investor, would you want to get into russian assets? There's only reasons to sell. Prices have to adjust. So kitty, how bad is this for russia? This is seriously bad news for russia.

The International Energy Agency will hold an emergency meeting to discuss whether to release oil from strategic stocks to offset rising energy prices caused by Russia’s invasion of Ukraine, Russian financial markets have descended into turmoil after western sanctions over the weekend struck the country’s financial system, and gulf states are staying neutral when it comes to the war in Ukraine.

Mentioned in this podcast:

IEA to discuss releasing oil stocks on Tuesday to stabilise prices

Russia doubles interest rates as sanctions send rouble plunging

Gulf states’ neutrality on Ukraine reflects deeper Russian ties

War in Ukraine: free to read

The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley.

Read a transcript of this episode on FT.com

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