Oil prices near $100 a barrel and stocks sink as Ukraine crisis deepens

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Mounting concerns over the conflict are hitting global financial markets driving up crude prices to an eight-year high.

Oil prices surged nearly 5% and stock prices dropped after Russian President Vladimir Putin recognized the independence of rebel-held regions of Ukraine, raising fears that a full-scale invasion was near.

, adding to fears of a full-scale invasion. Those actions have undermined hopes for averting a conflict that could cause massive casualties, energy shortages on the European continent and economic chaos around the globe. Putin on Monday claimed that Ukraine's modern borders were put into being by the USSR and said that Russian troops in Luhansk and Donetsk were necessary to protect the rights of Russian-speaking people in the region. Putin received no support for his actions from members of the U.N. Security Council at an emergency meeting Monday night.

"The current situation is tightening financial conditions for Russian companies, destabilizing markets and reducing business predictability," Elena Nazarova of FxPro said in a commentary.

 

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The oil industry has got to go. We can’t rely on something so unstable.

The reason is the problem Adolf Putin defying the West .... Like. Adolf Hitler

Ol' Brandon is knocking it out of the park. I wonder if his sanctions will require proper pronoun usage?

justice_pour_lahbib_aghrichi CBS

UK barrage all bluff from Russian funded liar “Boris” . “ Sanctioning 5 wee banks and 3 non resident oligarchs suggests the Government cares more about protecting Tory party donations and Londongrad Property Market than it does about imposing meaningful sanctions against Moscow”

Which US govt officials have financial investments in Russian interests? Which US based corporations and US Allies have business agreements with Russia?

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