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Russian stocks, bonds and rouble all slide on weak oil and Ukraine fighting

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Russian stocks, bonds and rouble all slide on weak oil and Ukraine fighting

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More bad news on the oil price and fears of the repercussions of intensified fighting in Ukraine sent Russian shares sharply lower on Monday
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The pressure was across the full range of economic benchmarks, with stocks and bonds suffering, and the rouble shedding 3.3%, its biggest fall in two weeks.

With President Barack Obama saying this weekend that significantly stricter sanctions against Moscow were being studied after what he said was a renewed offensive that was “clearly backed, equipped and financed” by Russia, the markets took fresh fright.

The downward pressure on the rouble appears immune to any selling off of dollars orchestrated by the central bank, and it now stands at nearly 66 to the dollar, again heading towards its December record low of 80.
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