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Markets Await Sanctions Announcements For Russia

EUROPE

Notable focus has landed on the upcoming announcements by members of the Western alliance as to the scale of sanctions that will be imposed on Russia for its recognition of the breakway Ukrainian regions of the so-called Donetsk and Luhansk People's Republics.

  • EU Commission President Ursula von der Leyen tweets: "Russia's aggression against Ukraine is illegal and unacceptable. The Union remains united in its support for Ukraine's sovereignty and territorial integrity. A first package of sanctions will be formally tabled today." No set timing for this, but the ongoing General Affairs Council meeting set to hold presser at 1730CET (1130ET, 1630GMT).
  • UK Prime Minister Boris Johnson is set to deliver a statement to the House of Commons at the bottom of the hour outlining the UK gov'ts plans for sanctions. Link to livestream can befound here.
  • Earlier, German Chancellor Olaf Scholz announced that Russia's actions mean that the final approval of the Nord Stream II gas pipeline would be halted. For some time the pipeline has caused something of a rift between Berlin and Kyiv, but with Scholz's announcement the Ukrainian gov't has heaped praise on the German gov't.
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