- Along with European markets, index futures in the United States fell. Banks with a Russian exposure led the falls, while utilities and military companies rose. Brent crude climbed to about $103 a barrel on worries of commodities supply disruptions, sending oil, natural gas, wheat, and palladium soaring.
- The need for safe havens was highlighted by gains in the dollar, gold, and treasuries. The euro sank on concerns about the economy of Europe, which is reliant on Russian oil. On Monday, the ruble lost a third of its value in offshore markets, and the cost of insuring government debt indicated a 56 percent chance of default.
- On the fifth day of the invasion, a Ukrainian team led by the defence minister met with Russian authorities. Ukraine's president Zelenskiy expressed doubt about the negotiations' success, but said he was prepared to give it a shot if it meant a chance at peace.
- The discussions take place as new restrictions attempt to further isolate Russia's commodity-rich economy from global finance by preventing its central bank from utilizing foreign reserves to counter-sanctions. They also restrict some Russian lenders from the global messaging system, SWIFT, which supports trillions of dollars in transactions.
- ECB's Centeno: War will delay second-round effects in Eurozone; We can’t rule out stagflation after Russian attack.
- Money Markets further reduces ECB rate hike bets, now pricing 30 BPS worth of hikes by year-end vs around 35 BPS late last week. Also, pushing back forecast for timing of the first ECB rate hike to Sept from June earlier this month.
- Iran's Foreign Ministry Spokesman Khatibzadeh: More than 98% of the draft nuclear deal has been finalised; 3 Key issues remain.
- European gas prices have jumped by 33% as a result of sanctions, which have fuelled worries of an energy crisis.
- Russia implements mandatory forex sales for companies, who will have to sell 80% of forex revenue. - IFAX Citing Finance Ministry
- The Central bank of Russia hikes key rate to 20%.
