INSUBCONTINENT EXCLUSIVE:
The Russian stock and currency markets plummeted during Wednesday trading amid reports that peace negotiations on Ukraine had hit another
roadblock.As of 12:30 p.m
level in a week, according to Reuters.The euro surged 2.2% against the ruble to 94.5 rubles and the yuan rose 2% on the Moscow Exchange to
11.35 rubles, also reaching a weekly high.The MOEX index, which hovered near the 3,000-point mark Tuesday evening, dropped to 2,900 points
Gazprom shares fell 3.2%, Sberbank dropped 1.5%, VTB slipped 3.1% and Rosneft declined 2.9%
Global.Top diplomats from the U.S
and Europe skipped a new round of Ukraine peace talks in London, the British Foreign Office said, with the latest discussions on a ceasefire
proposal now taking place among senior officials.U.S
Secretary of State Marco Rubio had met with the French and British foreign ministers and a senior German official in Paris last Thursday,
proposal to end the war.That framework, according to Axios, includes U.S
regions, sanctions relief and the promise of future economic cooperation
The outlet noted that security guarantees for Ukraine remain vague.Many of the points in the proposal are nonstarters for Ukraine and
signaled it wanted to focus on a 30-day ceasefire proposal rather than the broader U.S
a willingness to move quickly on a resolution to the conflict.Chernov forecasts that the ruble and the Russian stock market will likely
continue to decline through the end of the week, with the U.S
dollar potentially rising to 85-86 rubles and the MOEX index falling to 2,860 points.
