UPDATE 1-Rouble tumbles to record low as West steps up Russian sanctions

By Reuters

The Russian rouble tumbled to a record low against the dollar on Monday, after Western nations announced a harsh set of sanctions over the weekend to punish Russia for its invasion of Ukraine, including curbs on the country's currency reserves. Russian President Vladimir Putin ordered his military command to put nuclear-armed forces on high alert on Sunday, in response to Western reprisals for his war on Ukraine – the biggest assault on a European state since World War Two. Russia's central bank (CBR) announced a slew of measures on Sunday to support domestic markets, as it scrambled to manage the fallout of the sanctions that will block some banks from the SWIFT international payments system.

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