International sanctions against Russia continues to pile up, as Moscow prepares for an assault on Kiev and other major cities.  The value of the ruble collapsed yesterday, after Western powers cut the Russian government off from its $630 billion in reserves and further cut the country’s ties to the global financial system. 

Canada announced a ban on "all imports of Russian crude oil", while many companies said they were withdrawing from Russian businesses and projects.

Europe and America are preparing to take additional sanctions, including targeting more banks and oligarchs.

Talks were held yesterday between Ukraine and Russia, but they have been fruitless so far. Vladimir Putin has demanded the recognition of Crimea as Russian territory and the demilitarization of Ukraine to end the war.

Among stocks, AstraZeneca gained 2.5% after it agreed with Swiss biotechnology company Neurimmune to develop an antibody-based therapy for a rare condition that can lead to heart failure.

Things to read today:

There’s no table long enough to shield Putin (Bloomberg)

UK working through a hit list of Russian Oligarchs to face sanctions (Financial Times)

Putin is doomed, but he can still do terrible damage (Daily Telegraph)