“A meeting with Kremlin leader Vladimir Putin is necessary to determine Russia's position on ending the war he launched in Ukraine,” Interfax Ukraine news agency quoted President Volodymyr Zelenskyy as saying in a television interview, per Reuters.

The news cites Ukraine President Zelenskyy as adding, “It would not be possible to take a decision at such a meeting on what should be done with occupied territories in Ukraine.”

On the same line were headlines from S&P Global Ratings that said on Monday it will withdraw all of its outstanding ratings on Russian entities to comply with a ban from the European Union, per Reuters.

Market reaction

Given the risk-negative nature of the news, market sentiment remained sour following the announcements. Wall Street closed in the red after posting the best weekly advances since November 2020.

Read: Forex Today: Dollar surges with Powell’s comments