Russian President Vladimir Putin said on Monday that Russia does not want war in Europe, which is why the country has set forth security proposals. A decision on a partial withdrawal of troops has been taken, he added, though he did criticise the Western response to security proposals as not constructive. However, Putin claimed that there is a "genocide" taking place in Eastern Ukraine's Donbass region and that the majority of Russians support the rebel-held regions of the country. We have to try and solve the problems of the Donbass, he continued, saying the solution should be based on the Minsk peace process.

Market Reaction

There hasn't been a notable reaction to Putin's latest remarks, as markets attempt to process the seemingly declining risk of a all-out invasion of Ukraine, but potentially rising risk of a rekindling of the conflict in Eastern Ukraine.