NEW
Russian rouble getting crushed in currency exchange market - all time low of 106 roubles per dollar - this is the 20 year chart..
NEW Russian Central Bank raises key interest rates to 20% to contain rouble crash and impact on inflation
NEW UK, via Treasury, announces it is joining in policy of sanctioning Russian Central Bank … UK persons “prohibited” from transactions with it, & prevented from accessing sterling. Chancellor says shows “steadfast resolve in imposing highest costs on Russia”.
NEW: US, UK, EU, France, Germany, Italy,, Canada commit
- to ensuring selected Russian banks removed from SWIFT system.
- imposing restrictive measures preventing Russian Central Bank from deploying its international reserves to undermine sanctions bbc.co.uk/news/world-605…
“we commit to taking measures to limit the sale of citizenship—so called golden passports—that let wealthy Russians connected to the Russian government become citizens of our countries and gain access to our financial systems”…
We “committed to employing sanctions and other financial and enforcement measures on additional Russian officials and elites close to the Russian government, as well as their families, and their enablers to identify and freeze the assets they hold in our jurisdictions…”
Former UK Nat Security Adviser Sir Mark Lyall Grant told me after @BBCNewsnight he thought cultural sanctions would be highly effective in communicating directly to Russian people their isolation caused by Putin invasion.
Especially throwing Russia out of World Cup qualification
Glad to see our guest from last night the Ukrainian MP @kiraincongress is safe this morning after having to cut short @bbcNewsnight interview due to air raid sirens and Russian attacks on Kiev - she showed us the Kalashnikov she has received to defend Ukraine
“No matter how hard sanctions..will not stop Russians marching on Kyiv or Mariupol. But we can send Stingers, Javelins, vests. our moral duty.don't need only to watch the screens and see how these people are dying defending Europe”
Brent crude oil goes over $100 a barrel for first time since 2014 as Russia attacks Ukraine
Pride of Manchester winner @jezmyers just sent me this pic as families try to escape out of one of the main motorways from Kyiv, where he went to try to help his partner & family with visas…
Ukraine has closed its airspace to civilian planes and EASA has sent out a warning “there is a risk of both intentional targeting and misidentification of civil aircraft” - so limited normal routes out - HT @Theothebald
“I'm disappointed. The sanctions will absolutely no way change Putin's calculus about whether to go violently further into Ukraine…” UK should sanction 50 top oligarchs, he says
NEW:
Chancellor @OlafScholz speaking in Berlin with Taoiseach announces certification or given and “Nordstream 2 pipeline cannot go online” after the situation changed with Putin’s “incomprehensible” move last night, and EU-US consultations … via @dwnews
Significant move - not least because his predecessor in the Chancellery and party colleague Gerhard Schroeder is chairman of the board of Nordstream…
Interesting to see if Schroeder feels pressure to resign…
This is a very significant potential hit for a country and an economy so dependent on Russian gas, and ups the ante as to what UK should do with its source of potential sanctions leverage - Russian assets in the City