The currency of Russia plunged to its lowest value in 21 days against the world's reserve currency as the trade week began after deadly violence in Eastern Ukraine, endangering the likelihood of a peace agreement to settle the unrest between pro-Russian separatists and Ukraine security services, according to Bloomberg.
Pitched battles between Ukrainian forces and pro-Russian gunmen in Slovyansk claimed several lives while the United Nations Security Council convened an emergency meeting to address the government buildings occupied by pro-Russian separatists. Economic data regarding industrial production is slated for release on Tuesday and retail sales growth information is set to be released on Thursday.
"The risk of meaningful economic or sector-based sanctions against Russia is rising sharply," states a Monday report authored by analysts Vadim Khramov and Vladimir Osakovskiy with Bank of America Corp., according to Bloomberg.
The Russian ruble fell about 0.9 percent on Monday against the greenback, which piled on to yearly losses thus far to amount to an 8.7 percent drop.
The pro-Russian separatists did not obey the 9 a.m. deadline to surrender positions at government buildings and hand over weapons, Reuters reports. Ukraine said it would address the situation with anti-terror measures.
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