Moscow's stock market saw its longest shutdown, the ruble crashed 30%, and oil surged toward $120 as sanctions bit. Here are the top 10 seismic market moments after Russia invaded Ukraine.

People stand in line to use an ATM money machine in Saint Petersburg, Russia Feb 27, 2022.

REUTERS/Anton Vaganov

• Russia shut its stock market all week in a bid to curb panic-selling after the invasion of Ukraine.
• The ruble cratered to trade below 1 cent as Western sanctions effectively weaponized the financial system.
• These are the top 10 seismic market moments in the days after Russia's incursion into Ukraine.

Russia's devastating attack on Ukraine last week was the start of a cascade of dark events, bringing misery to countless civilians — and turmoil to financial markets.

The full-scale invasion on February 24 — the largest attack on European soil since World War II — has drawn strong condemnation from the US and its NATO allies.

It's also brought a string of sanctions from them, aimed at isolating the Russian economy from the rest of the world.

That disruption has the potential to hurt households everywhere, as their energy bills and the cost of food are pushed up by rises in commodity prices.

Russia is the world's second-largest oil producer, and the region is known as the "breadbasket of the world" for its wheat and corn crops.

The hostilities prompted widespread volatility in asset prices, as investors reacted to fresh news headlines. Over the week, they had to recalibrate their expectations as a string of ever-tougher sanctions on Russia came in.

We broke down the 10 most seismic market events in the days following Russia's invasion of Ukraine:

1. Russia banned short-selling after its stock index suffered a market rout

Elvira Nabiullina, governor of Russia's central bank.

Shamil Zhumatov/Reuters

The central bank banned short-selling of stocks the same day Russia launched its attack, after a 50% crash in Moscow's MOEX stock index erased over $250 billion in market value.

This was done to "protect the rights and legitimate interests of investors in the financial markets, reduce risks and limit excessive volatility," the bank said.

2. Russia's currency, the ruble, collapsed

Markets Insider

The ruble tumbled 30% to a record low, and was worth less than 1 cent Monday after the US and its allies blocked Russia from the SWIFT global banking system.

That means the country was effectively blocked from carrying out international trade.

3. Russia kept its stock market closed for an entire week, marking a record closure

The Central Bank of the Russian Federation.

Gavriil Grigorov\TASS via Getty Images

Russia's central bank has kept Moscow's stock market closed since Monday, in an attempt to stem sharp price declines driven by tough Western sanctions.

The Moscow Stock Exchange is reportedly set to be closed until Wednesday, in what would be the nation's longest closure.

4. Interest rates doubled overnight

People stand in line at an Alfa Bank ATM in Moscow on February 27.

Victor Berzkin/Associated Press

The central bank more than doubled its key interest rates on Monday, from 9.5% to 20%, in a bid to halt the total collapse of the ruble, Russia's currency.

It said it would resume buying gold after the US restricted access to its dollar reserves. It was seen as a move to shore up its finances and ensure financial stability during the market turmoil.

5. Ban on investment exits by foreign companies

A Shell gas station in Leningradskoye Highway, Moscow, Russia.

Valery Sharifulin/TASS/Getty Images

After BP and Shell scrambled to exit ventures tied to the country, Russia said Tuesday it would temporarily block foreign companies from ditching local investments.

6. Russian stocks listed in London crumbled to a nearly zero value

People queue outside Sberbank to withdraw cash.

MICHAL CIZEK/AFP via Getty Images.

The London-listed stocks of the largest Russian companies plunged sharply Wednesday. Gazprom, Lukoil, Sberbank all traded at barely a few cents per share — just above zero dollars, so almost worthless.

MSCI and FTSE Russell announced the same day that Russian stocks would be cut from their indexes as they're "uninvestable."

7. Clampdown on foreign wealth

Demonstrators at the Lincoln Memorial call for the US to take action.

Kenny Holston/Getty Images

Russia on Wednesday barred foreigners from countries that have imposed sanctions from moving money out of the country.

It also blocked coupon payments to overseas holders of Russian bonds until March 31. 

Non-Russian owners of ruble bonds no longer allowed to collect payments.

Russian citizens didn't fall under the ban.

8. Oil teased 14-year highs of $120 a barrel

A gas pipeline at a compressor station in Amur region, Russia.

Maxim Shemetov/Reuters

Oil traded at 14-year highs near $120 a barrel Thursday, as a move by 31 countries to release 60 million barrels from emergency reserves was seen as unlikely to make much impact.

Crude prices then pulled backed from those 2008 highs on hopes a nuclear deal with Iran may soon be agreed, which could allow the Middle Eastern country to increase its crude exports.

A Russian attack on Europe's largest nuclear power plant in Ukraine Friday briefly spooked the energy market.

9. London stock exchange halts trading in all listed Russian stocks

People queue outside a branch of Russian state-owned bank Sberbank.

MICHAL CIZEK/AFP via Getty Images

The London Stock Exchange froze trading in 28 Russian companies across the week, after some shares collapsed as much as 99%.

On Friday, it suspended another eight, so there are now no Russian securities trading on the exchange.

Sberbank, En+ Group, Gazprom, and Rosneft Oil are among the names affected.

10. Ukraine received over $50 million in crypto donations

Photo by Yuriko Nakao/Getty Images)

Through more than 100,000 separate transactions, Ukraine has collected over $50 million in cryptocurrency donations since last Saturday. Crypto exchange Binance contributed $10 million alone.

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