Russian Federation

G8 Sochi Summit on hold as Rouble plummets


The Group of Seven nations have all condemned the Russian Federation’s intrusion into Crimea on Sunday and all have put preparations for the Sochi Summit on hold for this summer.

The seven of the eight nations, Russia is the eighth, are Canada, France, Germany, Italy, Japan, United Kingdom and United States. The move comes as Russia’s stock market dropped 10% today and the Rouble dropped to its lowest level ever against the US Dollar and the Euro as the markets expressed concern over the Russian takeover of the Crimea which is part of Ukraine’s territory.

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