The ruble plunged nearly 30 percent against the dollar as the new trading day opened.
A kilometer-long Russian column heads towards Kiev
After four in the morning, numerous explosions were reported in both Kiev and Kharkov. U.S. space technology company Maxar Technologies, for its part, released satellite images showing a Russian military column of more than five kilometers on its way to Kiev.
President of Ukraine Volodymyr Zelenskyi estimates that the next 24 hours will be a crucial period for Ukraine.
The General Staff of the Ukrainian Army stated at night that Sunday had been difficult for its troops. According to the military, “Russian forces have continued artillery fire from almost every direction.”
Russia-Ukraine talks are skeptical
The Ukrainian and Russian delegations are due to negotiate this morning near the Belarusian border, but faith in the real results is being tested. Among other things, the British Prime Minister Boris Johnson said late Sunday that he was skeptical about the Russian president Vladimir Putin would be genuinely sincere in the negotiations.
– So far, I have not seen anything in his behavior that would make me think that he could possibly be sincere, said the Prime Minister.
Nevertheless, Johnson felt that all means should be tried to end the conflict.
At least the belief in Putin’s sincerity is not increased by the fact that he put the country’s nuclear forces on standby on Sunday immediately after the talks between Ukraine and Russia were announced.
The ruble, which has already been plunged, continues to dive
The Russian ruble was in a deep downward spiral as trading began early Monday. This is the first time that the exceptionally tough sanctions imposed on Russia by the West have been reflected in practice.
Queues for ATMs have already been seen in various parts of Russia. People fear that their cards will not work or that the amount of cash withdrawals will be severely limited.
The European Central Bank, for its part, estimates in the morning that the European subsidiary of the Russian state-owned Sberbank is about to collapse or is likely to collapse.
Will Putin close gas taps to Europe?
EU energy ministers will hold an emergency meeting in Brussels today.
Forty per cent of Europe’s imported gas comes from Russia, and there are fears that Putin will close the taps in retaliation for EU sanctions on Russia.
Yesterday, in addition to economic sanctions, EU foreign ministers agreed, among other things, that the EU could also provide Ukraine with weapons, even destroyers.