Volatile. japan currently down slightly, hong kong a lot worse. the japanese yen, seen as a safe haven, has gained quite significantly in value. here s our us business correspondent michelle fleury in the world of global finance, the decision by western governments to curb the central bank is unheard of for an economy the size of russia s. the us has previously sanctioned the central banks of iran and north korea, both much smaller, less connected economies. russia s central bank has spent years building up $630 billion in reserves, and a big chunk of that made up of gold, bonds and securities is held overseas. the measures agreed this weekend are designed to stop it from using those reserves to shore up its economy and to cushion the blow from sanctions that have already been imposed. now, the us and its allies haven t yet provided details
Speak to you be vulnerable. i m sure we will speak to you again. be vulnerable. i m sure we will speak to you again. chris - speak to you again. chris weafer, chief executive meta, the parent company of facebook and instagram, says hackers have used its site to target public figures in ukraine. the social media giant said that military officials, politicians and a journalist had their facebook accounts compromised. meta said the hackers had tried to post youtube videos from the accounts portraying ukrainian troops as weakened. the company also said it removed a network of about 40 fake accounts, groups and pages across facebook and instagram that targeting people in ukraine. energy ministers from the eu are holding an emergency meeting in brussels on monday amid concerns that energy supplies could be disrupted by the conflict in ukraine. the eu relies on russia for 40% of its gas and more than a quarter of its oil. now it s concerned vladimir putin could block deliveries after the
Step in to offer support? the world s second biggest economy has been russia s biggest trade partnerfor years with bilateral commerce hitting a new high of $147 billion in 2021. china also has a payments system called cips, which russian banks might route payments through now they have been locked out of the more widely used global swift system. orat or at least to some banks have been. joining me now from beijing is tom rafferty, regional director for asia at the economist intelligence unit. there are lots of questions about what china will do next. what are you hearing? that about what china will do next. what are you hearing?- what are you hearing? at the moment china what are you hearing? at the moment china is what are you hearing? at the moment china is still - what are you hearing? at the moment china is still doing . moment china is still doing very cautious approach on the diplomatic crisis and we are still waiting to see how it approach the issues of what level of economi
Bp said the attack on ukraine meant it had to fundamentally rethink its position, and its 20% stake in the russian company. and in germany, chancellor olaf scholz announced the country will now build two liquid natural gas terminals as it seeks to move away from its reliance on russian gas. we ll be looking at all of these issues over the next 30 minutes, but first here s how the markets are reacting. the price of oil has leapt. almost 6% higher but you can see how the rouble is currently trading against the us dollar, an all time low for the russian rouble. this is in reaction to these latest moves in terms of financial sanctions on pressure. the share markets are not steady, they are very
Your thoughts on what today might look like in terms of financial markets. we have seen the russian rouble tumble, the moscow exchange is delaying the open for foreign exchange and money markets, europe, it could be a very volatile session. it could, but i think we have to be clear. the situation in ukraine is a horrible tragedy with enormous human cost but it is a regional issue so far. global repercussions coming from the impact it has on energy prices, and oil and gas, as well as to a lesser extent on the commodities that are exported by russia and by ukraine. it is very important we keep the perspective and also important that we understand that markets discount events over time, so they could be short term volatility. clearly impact in russia will be very severe because of unprecedented actions being taken but i think if you look at the impact on overall markets, on the us