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Asian stock prices fall after Western nations announce sanctions against Russia

Asian stock prices fall after Western nations announce sanctions against Russia
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Tokyo, Feb 28 (AP) Asian stock prices have fallen after Western nations moved to tighten sanctions against Russia and as President Vladimir Putin escalated tensions by ordering Russian nuclear forces on high alert.

US futures fell, with the contract for the S&P 500 down 2.5% early Monday. The stock markets in Tokyo, Hong Kong and Shanghai declined while Sydney was higher.

Russia’s invasion of Ukraine has caused markets to swing wildly, given the potential impact on inflation, energy supplies and other areas. The Russian ruble has weakened sharply but was steady early Monday at 83.86 to the dollar.

Japan joined moves by the U.S. and Western nations to impose sanctions on Russia, including blocking some Russian banks from the SWIFT global payment system.

Meanwhile, the United Nations nuclear watchdog says missiles have hit a radioactive waste disposal site in the Ukrainian capital of Kyiv, but there are no reports of damage to the buildings or indications of a release of radioactive material.

In a statement late Sunday, International Atomic Energy Agency Director General Rafael Grossi says Ukrainian authorities informed his office about the overnight strike. He says his agency expects to soon receive the results of on-site radioactive monitoring.

The report came a day after an electrical transformer at a similar disposal facility in the Ukrainian city of Kharkiv was damaged.

Such facilities typically hold low-level radioactive materials such as waste from hospitals and industry, but Grossi says the two incidents highlight a very real risk. He says if the sites are damaged there could be potentially severe consequences for human health and the environment.

Canberra Australia will provide lethal military equipment to Ukraine to help the Ukrainians resist the Russian invasion.

The Australian government’s announcement Monday gave no details on what material it may be sending. The move follows an offer on Friday of non-lethal military equipment, medical supplies and a 3 million contribution to a NATO trust fund for support of the besieged country.

Australia has imposed sanctions on more than 350 Russian individuals, including Russian President Vladimir Putin since Thursday.

Australia has also targeted with sanctions 13 individuals and entities in Belarus, including that country’s defence minister, Viktor Khrenin. Belarus is supporting Russia in its war with Ukraine. (AP)

 

 


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