BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - U.K. stocks fell sharply on Monday amid heightened tensions over the Russian invasion of Ukraine.
Russia's central bank more than doubled interest rates to 20 percent in a desperate attempt to shore up the plummeting ruble and prevent the run of banks amid crippling Western sanctions over the Russian war in Ukraine.
The rouble sank more than 40 percent to a record low against the dollar while oil prices jumped by as much as $7 a barrel as President Vladimir Putin put his country's nuclear deterrent on high alert amid the ongoing conflict in Ukraine.
The benchmark FTSE 100 was down 117 points, or 1.6 percent, at 7,373 after rising as much as 3.9 percent on Friday.
BP shares slumped 6.7 percent after the oil giant said it is exiting stake in Russia's Rosneft.
Russian gold miner Polymetal International plunged as much as 50 percent and the steel producer Evraz lost 25 percent.
BAE Systems soared 14 percent after Germany said it would ramp up military spending in a major policy shift.
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