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Ukraine crisis: Oil prices soar, US dollar jumps against ruble

Ukraine crisis: Oil prices soar, US dollar jumps against ruble

author avatar
24 Feb 2022 - 17:15
Ukraine crisis: Oil prices soar, US dollar jumps against ruble
author avatar
24 Feb 2022 - 17:15

KABUL (Pajhwok): Increasing tensions between Russia and Ukraine destabilized oil markets, with the Russian ruble depreciating by six percent.

The price of a barrel of oil reached more than $ 100 today, Thursday, for the first time in seven years after Russian President Vladimir Putin announced a military operation in Ukraine.

According to reports, the value of the Russian ruble fell by nearly six percent, the Moscow Stock Exchange suspended all trading and Russian financial markets fell sharply in the past few days.

Meanwhile, the US dollar rose 23.5 percent against the Russian ruble.

Experts say that Russia’s invasion of Ukraine will also affect Asian markets.

mds/ma

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