Russia suspends trading in markets after depreciation

ISTANBUL

The Moscow Exchange announced on Thursday that it has suspended trading on all of its markets until further notice.

The announcement followed depreciation in the Russian stock markets and the ruble amid the start of a Russian military operation in neighboring Ukraine.

After President Vladimir Putin announced a military operation in Ukraine, the Moscow Stock Exchange dropped by more than 11%.

The US dollar/ruble parity also hit a record level of 90.

Global stocks plunged on Thursday, while dollar, gold, and oil prices rocketed higher after Russia launched a military operation in Ukraine and targeted key areas in cities with weapons and missiles.

Earlier, explosions were reported in several Ukrainian provinces, including the capital Kyiv, and several military vehicles reportedly crossed the border with Belarus into Ukraine.

In a statement on Thursday morning, the Russian Defense Ministry announced it is using “high-precision weapons” to disable air defense systems, military airports, and air forces in Ukraine.