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The collapse in oil prices will weaken Russia, Ukraine’s geopolitical adversary.

Tuesday, March 10, 2020
The collapse in oil prices will weaken Russia, Ukraine’s geopolitical adversary.

The collapse in oil prices will weaken Russia, Ukraine’s geopolitical adversary. When Moscow trading starts today after the March 9 holiday, the ruble is expected to weaken beyond Monday’s 4% fall. In London trading Monday, several major Russian companies, including Gazprom, saw their share prices fall by one quarter. In contrast to previous Russian recessions, the economies of Russia and Ukraine are increasingly de-linked, a legacy of six years of war.

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With the hryvnia down almost 7% against the dollar this year, the central bank intervened Tuesday morning, selling $250 million in foreign currency reserves.

With the hryvnia down almost 7% against the dollar this year, the central bank intervened Tuesday morning, selling $250 million in foreign currency reserves.

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