Moscow, Europe Brief News – Oil prices surged past $105 per barrel and equities tumbled Thursday.
This follows Russia’s declaration to invade Ukraine, accelerating fears of a major war in Eastern Europe.
Asian and European stock markets nosedived — with Frankfurt and Paris shedding five percent.
Investors fled risky equities, while haven investment, gold, rebounded close to $2,000 per ounce.
After weeks of warnings from the United States and other powers, Russian President Vladimir Putin ordered a wide-ranging offensive into its neighbour.
World leaders have expressed fury and vowed to ramp up sanctions on Moscow.
In reaction, oil rocketed more than eight percent, with European benchmark Brent prices briefly cruising past $105 per barrel for the first time since 2014.
Aluminum and wheat also surged to record peaks on fears over output from major exporter Russia.
Ukraine Crisis: Citizen Are Fleeing Off Country
Ukraine reported a number of troops pouring across borders into the eastern Chernihiv, Kharkiv and Luhansk regions. Explosions can be heared before dawn in the Capital Kyiv. The residents are trying to flee the country as highways experienced a worst traffic jam.
Ukraine President Volodymyr Zelenskiy said that Putin has made up his mind to destroy his state.
Dmyto Kuleba , Ukrainian Foreign Minister said on twitter “ Putin has just launched a full scale invasion of Ukraine. Peaceful Ukrainian cities are under strikes”.
He further added “This is a war of aggression. Ukraine will defend itself and will win. The world can and must stop Putin. The time to act is now”.
Joseph Borrel, EU Foreign Affairs Chief “These are among the darkest hours of Europe since the Second World War”.
A resident from the Ukrainian City Kharkiv claimed that the windows in apartment blocks were shaking from constant bombing from Rusian Military.
The Initial reports of casualties were irregular and unconfirmed. Ukraine reported that Russian shelling has killed almost eight of its people along. Three border guards in the Southern Kherson Region were also killed.
