The euro fell and the safe-haven dollar rose after President Putin threatened to use his own nuclear weapons if necessary.
Putin said in his address that he has ordered the deployment of reserve troops to protect Russia's territorial integrity. In the last few days, the Ukrainian forces have been able to take back areas of the country from the Russians.
"If the territorial integrity of our country is threatened, to defend Russia and our people, we will use all means we have," Putin told the nation. This is not a lie.
With all the means we have, we will be able to secure the territorial integrity of our motherland.
The prevailing winds can turn in the direction of those who try to blackmail us.
His comments were seen as a threat to use Russia's nuclear arsenal to hold onto territorial gains in Ukraine as the country's forces repel the invaders.
The euro fell to a new low. At last check, the European currency was down by over half a percent.
The US dollar index rose to its highest level in over a decade. The dollar's performance against the euro, as well as five other major currencies, was tracked by the index.
The dollar is usually seen as a safe-haven asset by investors and tends to strengthen when there is unrest in the world.
The British pound fell to a 37 year low against the dollar.
People will vote on whether to become part of Russia in the self-proclaimed republics of Luhansk and DONETSK.
More than 300,000 troops with military experience will be brought into the conflict.
All Rights Reserved © 2024
