Volatility Reigns as Sanctions Regime Takes Shape

Real Vision: Finance & Investing

Real Vision

Business News, News, Investing, Business

4.1 • 1.1K Ratings

🗓️ 1 March 2022

⏱️ 37 minutes

🔗️ Recording | iTunes | RSS

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Summary

Bond yields retreated and U.S. equity indexes swung from red to green and back again, as the global community continues to respond to Russia’s invasion of Ukraine. UK-based BP dumped its 19% stake in Russian oil and gas producer Rosneft, while Switzerland stepped forward from centuries of neutrality to freeze Russian assets held by its banks. And Singapore has imposed its own sanctions on Russia, a rare move by the southeast Asian country. Officials elsewhere have taken steps to cut off Russia’s access to its estimated $630 billion of foreign reserves. The Russian ruble has collapsed, while Russia’s central bank more than doubled its benchmark interest rate to 20% and closed the country’s stock market on Monday. Russian bonds tumbled, and investors braced for the possibility that Western sanctions could push Russia to default for the first time since 1998. Jacob Shapiro, Director of Geopolitical Analysis at Cognitive Investments, joins Real Vision’s Maggie Lake to assess the geopolitical situation. And Harry Melandri, Advisor at MI2 Partners, is here to appraise markets’ reaction in today’s edition of the Daily Briefing. Want to submit questions? Drop them right here on the Exchange: https://rvtv.io/3poBBa6 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:35.4	Hello and welcome to the Real Vision Daily briefing.
0:37.6	It's Monday, February 28th, 2022. I'm Maggie Lake.
0:41.4	We begin another week with Russia continuing its offensive against Ukraine and the global
0:46.1	community, ratcheting up the sanctions. Here to help us make sense of the latest developments and
0:50.6	their impact on the markets, Jacob Shapiro, Director of Geopolitical Analysis at
0:55.5	Cognitive Investments and Harry Melondry Advisor at MI2 Partners.
1:00.1	Gentlemen, great to have both of you with us today.
1:03.2	Jacob, let's start with you. Both sides met for talks today.
1:06.4	The Ukrainians and Russians, but at this hour, it appears the fighting is intensifying.
1:11.9	More countries and companies have joined the sanctions, leaving Russia looking
1:16.5	increasingly isolated in the global economy.
1:19.2	There's so much going on, so many different threads here.
1:21.8	Give us your assessment of where things stand. What are you watching right now?
1:26.6	Yeah, well, so there's the old Lenin quote that I feel like has been making the rounds.
1:30.0	There are decades where nothing happens, and then there are weeks where decades happen,
	...

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