Rouble sinks, stocks plunge as Russia recognises Ukraine breakaway regions - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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The rouble tanked on Monday, slipping past 80 against the dollar, while stocks plunged to their lowest in over a year as Russian President Vladimir Putin called for the immediate recognition of two breakaway regions in eastern Ukraine.

Putin signed a decree recognising the breakaway regions in eastern Ukraine as independent entities, upping the ante in a regional crisis the West fears could erupt into war.

Against the euro, the rouble had lost 2.6% to 89.79 after hitting 90.7850, a level last seen in April 2021. Goldman Sachs analysts said it now seemed plausible that geopolitical risks in the Ukraine-Russia standoff were starting to have a meaningful impact on global assets.

 

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