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Russia, Ukraine and what next for the markets

The markets are desperately trying to figure out what's going to happen next in the Russia - Ukraine crisis.The next ten days will be crucial, according to the renowned Russia analyst, Nadia Kazakova. Geo-political tensions are weighing heavily on the markets with more falls on global equity indices this Friday.

On Thursday, Russia banned imports of food from the West in retaliation against sanctions imposed by the EU and the US which were introduced last month. They could also ban Western planes from flying over its airspace. Nadia assesses the implications for global growth and for Russia itself which is already struggling economically. Ruble bond yields have jumped ten percent since June and there's also a big liquidity squeeze with Russian businesses barely able to borrow G7 currencies in the international bond markets.

03:13 minutes
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