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Evening Standard
Evening Standard
Business
Oscar Williams-Grut

‘Full-blown crisis’ in Russia sends shockwaves as oil, gas spikes and stocks sink

Russia Moscow City

People queue to withdraw money at cash machines in Kyiv on February 24

(Picture: AFP via Getty Images)

The price of everything from metals and gas to wheat jumped today as tough sanctions on Russia pushed the country into financial crisis and left the City racing to parse the impact.

Western governments radically stepped up sanctions on Russia over the weekend, including banning some of the country’s leading banks from the international SWIFT payment network and freezing central bank reserves held overseas.

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