Ukraine reports a cyber attack on the Ministry of Defense website, Banks

Russia-Ukraine Crisis LIVE Updates:

Oil prices fell Monday from their highest level in more than seven years as Ukraine hinted at possible concessions to Russia that could ease tensions between the two countries, which Western governments say are on the brink of war. Brent crude is up 5 cents at $94.49 a barrel by 10:55 a.m. EST (1555 GMT) after hitting its highest level since October 2014 at $96.16. US West Texas Intermediate (WTI) crude rose 46 cents to $93.56 a barrel after hitting $94.94, the highest since September 2014.

World stocks slid on Monday as warnings that Russia could invade Ukraine at any time, pushed oil prices to seven-year highs, hit the euro and pushed investors back to the safe havens of government bonds they’d been issuing all year. Ratchet concerns sent Europe’s STOXX 600 stock index down 2.7% and Wall Street futures down almost 1%, before comments from Russian Foreign Minister Sergei Lavrov that diplomatic efforts should continue helped offset some to regain lost ground.

Germany’s Chancellor Olaf Scholz visited Ukraine on Monday and plans to also visit Moscow in what appears to be a last-ditch effort to avoid a feared Russian invasion, which a US intelligence report says could begin as early as Wednesday. The Russia-Ukraine conflict has reached a turning point where European stability and the future of East-West relations are at stake. Russia has over 100,000 troops stationed near the Ukrainian border. US President Joe Biden has warned that if Russia invades Ukraine, the US and its allies would react decisively and impose swift and heavy costs.

First published: IS

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