Russia Market Crash Show ‘Our Sanctions Are Working’ – Scholz

The S&P 500 and Nasdaq Composite finished with gains after recouping their losses along with the Dow Jones which also rose. AFP

Heavy sanctions imposed by Western allies against Russia over its invasion of Ukraine are already showing effect, German Chancellor Olaf Scholz said Sunday, warning that further embargoes could come if Moscow failed to change course.

“Already in the last week, the Russian stock markets sank by more than 30 percent. That shows: our sanctions are working,” said Scholz.

“And we reserve the right to impose further sanctions,” he warned.

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