As a result of the Ukraine crisis, the Russian currency has lost a lot of value against the dollar and also against the euro.
(Photo: dpa)
new York After the latest developments in the Ukraine crisis, there were turmoil, particularly on the commodity and foreign exchange markets. Russian President Vladimir Putin announced early Tuesday evening that he would recognize the self-proclaimed People’s Republics of Donetsk and Luhansk in eastern Ukraine as independent states. Later that evening, the announcement followed that troops would be sent to eastern Ukraine.
In the evening, Putin’s decisions drove the price of oil in particular higher. A barrel of Baltic Brent cost around 3.4 percent more in the evening and was quoted at $96.76. The US variety WTI rose 2.9 percent to $93.95.
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