A Kremlin spokesman Dmitry Peskov has stated that Russia would use nuclear weapons only when there is a 'threat to the existence of the state'. 

''Peskov told PBS in an interview on Monday that Russia would resort to nuclear weapons only in the case of a 'threat to the existence' of his country - and not as a result of the current conflict with Ukraine,'' Reuters is reporting.

"But any outcome of the operation (in Ukraine), of course, is not a reason for the usage of a nuclear weapon," Peskov said.

"We have a security concept that very clearly states that only when there is a threat for the existence of the state, in our country, we can use and we will actually use nuclear weapons to eliminate the threat for the existence of our country."

Key notes

• Pskov tells PBS that Biden's remarks on Putin remaining in power were 'quite alarming' and a 'personal insult'
• Peskov says Russia would use nuclear weapons only when there is a 'threat to the existence of the state'
• Says Russia 'does not accept the jurisdiction of the international criminal court.
• Tells PBS in interview that Russia is not targeting civilian homes or apartments.
• Tells PBS that nato is a 'machine of confrontation'.

Market implications

The yen is higher which could be related to the comments.