The escalation of the situation in Russia and Ukraine, the global stock market fell sharply, and the price of Brent crude oil exceeded the $100 mark

Global stock market quotes. Image source/network.

On February 24, affected by the escalation of the situation in Russia and Ukraine, the global stock market suffered varying degrees of decline. Among them, Russia's Moscow Stock Exchange Index fell below 2,700 points, the first time since November 2, 2020; as of 4:27 pm Beijing time on the 24th, the Russian RTS index fell to 42%, and the Russian MOEX index fell 36%

According to CCTV news, on the 24th local time, Russia's central bank decided to intervene in the foreign exchange market to stabilize the Russian market. Foreign media reported that EU said it would freeze Russian assets in the EU. European Commission President von der Leyen said that the EU will block strategic sectors of Russia’s economy and prevent it from accessing key technologies and markets; it will weaken Russia’s economic foundation and modernization capabilities; it will freeze Russia’s assets in the EU and stop Russian bank enters European financial markets.

The Russian-Ukrainian conflict has sparked unease among global investors, and the prices of safe-haven assets such as crude oil and gold are rising. Brent, the international oil benchmark , rose more than $4 a barrel to over $100 a barrel for the first time since September 2014 and is continuing to climb as the conflict intensifies.

In order to stabilize the domestic financial situation, the Central Bank of Ukraine will limit the daily cash withdrawal limit to 100,000 Ukrainian hryvnia (at the current exchange rate , about 21,000 RMB), and prohibit the withdrawal of foreign exchange cash. Limit any non-cash transactions.

Nine faction news reporter Liu Meng