Russian-Ukraine crisis likely bring massive impact on world Economic .
Investors were bracing for a torrid day for Russian, Ukrainian and wider global markets when they reopen on Tuesday, after Vladimir Putin upped the ante in a crisis the West fears could unleash a major war.
In a lengthy televised address, the Russian president recognised two breakaway regions Donetsk and Luhansk in eastern Ukraine as independent entities and described Ukraine as an integral part of Russia’s history.The rouble losses reached 3.3%, while Moscow’s stock markets plunged to their lowest level in over a year as the dollar-denominated RTS indeBrent crude prices hit $96.7 per barrel on Tuesday, the highest mark since September 2014, following Russian President Vladimir Putin’s deployment of troops to separatist area Donetsk and Luhansk in Ukraine. While the West has termed it a blatant violation of international law, the rising global tensions and threat of invasion in Ukraine have caused oil prices to surge and the stock markets to crash.oil prices have surged nearly 40 per cent since December 1, 2021, when it was trading at $69.5, the benchmark Sensex at the BSE fell by over 1,250 points in the early trading hours on Tuesday and hit a day’s low of 56,394. The rupee also fell 33 paisa or 0.44 per cent to hit 74.84 to USD.x (.IRTS) finished the day 13.2% lower and the rouble-based MOEX Russian index (.IMOEX) lost 10.5%.