Ceasefire talks between Russian and Ukrainian officials started on the Belarusian border on Monday as Russia faced intense economic isolation four days after invading Ukraine.
The meeting comes after President Vladimir Putin ordered his nuclear deterrent force to be on high alert, a huge escalation in Russia’s confrontation with Western powers who have increased their supply of lethal aid to Ukraine and imposed crippling financial sanctions.
The U.S. announced Monday morning it would ban all American businesses from dealing with Russia’s central banks, as well as freezing the assets of a Putin associate.
Those sanctions were felt across Russia on Monday, as the value of the Ruble went into freefall and Moscow’s central bank raised interest rates from 9.5 to 20% to protect people’s savings.
