Asian stocks fall as western allies vow more sanctions against Russia

BEIJING — Asian stock markets mostly fell Friday after Western governments promised new sanctions on Russia and President Vladimir Putin tried to prop up Moscow’s sinking ruble by threatening to require Europe to use it to pay for gas exports.

Shanghai and Hong Kong declined while Tokyo gained. Oil was little-changed but stayed above $110 per barrel. Putin threatened to require European customers that rely on Russia gas supplies to pay in rubles. That would increase demand for the Russian currency, pushing up an exchange rate that has slumped under sanctions.

The Shanghai Composite Index SHCOMP lost 0.9% to 3,219 while the Nikkei 225 NIK in Tokyo gained 0.1% to 28,136.57. The Hang Seng HSI in Hong Kong fell 2.5% to 21,378.India’s Sensex 1 fell 0.2% to 57,475. New Zealand, Singapore and Bangkok advanced while Jakarta declined.

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