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Stocks recover on Russia sanctions impact

Trading floors remain on edge, with Ukraine mobilising its military reserve and urging its citizens to leave Russian territory as Moscow sharpens its demands, increasing fears of all-out war.

February 23, 2022 / 10:08 PM IST
Representative image (Source: Reuters)

Representative image (Source: Reuters)

Stock markets mostly rose and oil prices held relatively steady Wednesday as economic sanctions imposed on Moscow over the Russia-Ukraine crisis were deemed less harsh than expected.

Brent crude stood at $96.73 per barrel, having soared to a seven-year high of $99.50 Tuesday on fears of disruptions to key Russian oil supplies.

Other commodities have also hit multi-year peaks on fears of all-out war.

"Market mood is not cheerful but the softer-than-feared sanctions somewhat help," SwissQuote analyst Ipek Ozkardeskaya noted Wednesday.