Russia’s economy is crashing as they struggle to defeat Ukraine; Here’s a roundup of the LATEST news…

by The Right Scoop

On day 5 of the Russian invasion of Ukraine, Putin has still failed to take all major cities in the country.

Given that, it was reported a few hours ago that there was heavy shelling in a civilian area in Kharkiv:

 
The UN is saying that over 100 civilians have thus far died in the Ukraine war, including seven children:

 
Belarus is expected to join the Russian invasion soon:

The State Department has suspended operations at their US Embassy in Belarus:

 
More countries are sending weapons to Ukraine:

 
Peace talks between Ukraine and Russia have already begun this morning and they are happening in Belarus:

Ukraine is urging Russia to lay down their arms:

 
Zelensky is said to be demanding an immediate EU membership:

 
As far as Russia’s economy, it appears to be quickly going south under the sanctions imposed by multiple countries and the cost of their invasion:

Here’s more:

TOWN HALL – As sanctions levied by the West land hits on Russia’s economy, Moscow’s stock exchange remained closed on Monday amid reports that Vladimir Putin would assemble his economic advisors to address the early consequences of his unprovoked invasion of Ukraine.

Russia is scrambling to stop its currency’s free-fall, but their efforts aren’t working so far:

Russia’s central bank immediately stepped in to try to halt the slide of the ruble. It sharply raised its key interest rate Monday in a desperate attempt to shore up the currency and prevent a run on banks.

The bank hiked the benchmark rate to 20% from 8.5%. That followed a Western decision Sunday to freeze Russia’s hard currency reserves, an unprecedented move that could have devastating consequences for the country’s financial stability.

It was unclear exactly what share of Russia’s estimated $640 billion hard currency pile, some of which is held outside Russia, would be paralyzed by the decision. European officials said that at least half of it will be affected.

That dramatically raised pressure on the ruble by undermining financial authorities’ ability to support it by using reserves to purchase rubles.

We’ll bring you more on any big developments as we get them.


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