Russian President Vladimir Putin delivered a threatening speech in the New York session which has weighed on risk and encouraged a swift response from the West with harsh new sanctions being implemented.
Putin has signed a separatist recognition decree over eastern Ukraine regions and the decrees on recognizing the Donetsk and Luhansk People’s Republics also ordered the Russian armed forces to go into separatist territory on peacekeeping missions.
This has sparked retaliation from the US, UK, EU and UN and the Twitter feeds are quoting some key figures on the international stage in this regard:
- UN chief Guterres considers Russia's eastern Ukraine recognition a 'violation of territorial integrity, sovereignty of Ukraine, inconsistent with UN charter.
- UK govt says sanctions expected to go further if invasion happens, so they won’t go as far as full package prepared, The Guardian.
- UK govt confirms it will be announcing Russia sanctions tomorrow in response to Putin's declaration, The Guardian.
- White House official says Biden has started the call with France's Macron and Germany's Scholz.
- German government spokesman: Chancellor Scholz agreed with macron and Biden that Putin's decision won't go unanswered.
Tomorrow we will be announcing new sanctions on Russia in response to their breach of international law and attack on Ukraine's sovereignty and territorial integrity.
— Liz Truss (@trussliz) February 21, 2022
Following Russia’s latest assault on Ukrainian sovereignty I spoke to @JosepBorrellF tonight. We agreed and will coordinate to deliver swift sanctions against Putin’s regime and stand shoulder-to-shoulder with Ukraine. pic.twitter.com/ZmzfCqaRBe
— Liz Truss (@trussliz) February 21, 2022
Update
Reuters recently came out with the news conveying that Russia has right to build and establish military bases in eastern Ukraine under new agreement with separatist leaders.
The news escalates the fears of a military invasion by Russia and weigh on the risk appetite, which in turn drag Antipodeans and propel the rush to risk-safety.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
AUD/USD holds gains near 0.6250 but upside appears limited
AUD/USD remains on the front-foot near 0.6250 following the previous day's good two-way price swings amid confusion over Trump's tariff plans. The Aussie, meanwhile, remain close to over a two-year low touched last week in the wake of the RBA's dovish shift, China's economic woes and US-China trade war fears.
USD/JPY: Bulls retain control above 158.00, Japanese intervention risks loom
USD/JPY is off multi-month top but stays firm above 158.00 in the Asian session on Tuesday. Doubts over the timing when the BoJ will hike rates again and a broad-based US Dollar rebound, following Monday's Trump tariffs speculation-led sell-off, keep the pair supported ahead of US jobs data.
Gold traders appear non-committal ahead of US jobs data
Gold price is battling the short-term critical barrier at around $2,635 early Tuesday, consolidating the two-day corrective decline from three-week highs of $2,665. Gold traders refrain from placing fresh directional bets ahead of the top-tier US ISM Services PMI and JOLTS Job Openings data.
Ripple's XRP eyes rally to new all-time high after 40% spike in open interest
Ripple's XRP trades near $2.40, up 1% on Monday following a 40% surge in its futures open interest. The surge could help the remittance-based token overcome the key resistance of a bullish pennant pattern.
Five fundamentals for the week: Nonfarm Payrolls to keep traders on edge in first full week of 2025 Premium
Did the US economy enjoy a strong finish to 2024? That is the question in the first full week of trading in 2025. The all-important NFP stand out, but a look at the Federal Reserve and the Chinese economy is also of interest.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.