Russian invasion of Ukraine

Guardian live feed:

all 10 of Russia’s largest financial institutions had now been
subjected to sanctions – “holding nearly 80% of the Russian banking
sector’s total assets”.

As a result, the official said: “Russia’s government borrowing costs
have more than doubled to almost 17%. The S&P credit rating agency has
downgraded Russia to junk status. Within 24 hours of our actions the
demand for cash in Russia spiked 58 fold, according to reports, and
the Russian government scrambled to deplete its own resources to try
and shore up its banks and its currency. In short, Russia has become a
global economic and financial pariah.”