\nArticle content<\/h2>\n But what looks like the death of the G20 as a serious global body must be a disappointment to the globalists in Ottawa who thought they had helped to create something special. It looked that way for a little while. Then history got in the way, forcing the group to choose sides. Now they are fanning flames rather than dousing them.<\/p>\n
\u2014 Kevin Carmichael<\/em><\/p>\n10:16 a.m.<\/h2>\n President Joe Biden\u2019s administration on Monday banned American people and companies from doing business with the Bank of Russia, the Russian National Wealth Fund and the Ministry of Finance.<\/p>\n
This is just the latest in sanctions aimed at cutting off Russia financially.<\/p>\n
\u201cOur objective is to make sure that the Russian economy goes backwards if President Putin decides to continue to go forward with an invasion in Ukraine, and we have the tools to continue to do that,\u201d a senior U.S. administration official said on Monday.<\/p>\n<\/section>\n
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This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div>\n\nArticle content<\/h2>\n This weekend Canada, the European Commission, France, Germany, Italy, the United Kingdom, and the United States issued a joint statement condemning Putin\u2019s \u201cwar of choice\u201d and attacks on Ukraine, and committed to ensuring the removal of \u201cselected Russian banks\u201d from the SWIFT system.<\/p>\n
The Financial Post\u2019s Barbara Shecter explains why SWIFT is the financial \u201cnuclear option\u201d when it comes to punishing Putin. Read more here<\/p>\n
9:55 a.m.<\/h2>\n Whoa, Russia\u2019s central bank hiked its interest rate from 9.5 per cent to 20 per cent this morning before the ruble started trading.<\/p>\nThe biggest rate increase in almost 20 years did little to save the currency which plunged nearly 30 per cent as traders struggled to price the currency amid an initial lack of liquidity.<\/p>\n9:33 a.m.<\/h2>\n Stocks are falling off the bell this morning as investors assess the fallout from a new set of sanctions imposed by the Western countries on Russia over its invasion of Ukraine.<\/p>\n
The Dow Jones Industrial Average fell 188.13 points, or 0.55 per cent, at the open to 33,870.62 and is now down more 400 points.<\/p>\n
The S&P 500 opened lower by 30.48 points, or 0.70%, at 4,354.17, while the Nasdaq Composite dropped 123.80 points, or 0.90%, to 13,570.83 at the opening bell.<\/p>\n
The TSX is down 121 points at 20,984.<\/p>\n
Gold is up US$23 at US$1,911.<\/p>\n
Additional reporting by Reuters, Bloomberg.\u00a0<\/em><\/p>\n<\/section>\n\nShare this article in your social network<\/h2>\n<\/section>\n\n
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