Oil Prices Close To $100, Ukraine Crisis Deepens

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Mfame Editor
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A recent news article published in the Guardian states that oil prices hit seven-year highs close to $100 after Russia moves troops into Ukraine – as it happened.

Deepening Ukraine crisis

The deepening Ukraine crisis has sent global stocks tumbling and crude oil surging. Last night, Russian president Vladimir Putin ordered his military to enter the Russian-controlled areas of southeast Ukraine.

In a lengthy televised address, he had recognised the territories of Donetsk and Luhansk as independent states.

US and UK condemn the move

Washington, European and other countries have condemned the move and threatened to impose tough sanctions.

Boris Johnson is chairing a meeting of the UK’s emergency Cobra committee this morning to sign off a package of sanctions against Russia.

The initial signs were that the package would target “those complicit in the violation of Ukraine’s territorial integrity”.

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Source: The Guardian