That concludes our live-blogging of the Ukraine crisis for Monday, January 26. Check back in this space on Tuesday for more of our continuing coverage. Good night.
From RFE/RL's News Desk:
Standard & Poor's has cut Russia’s credit rating to junk level, putting it below investment grade for the first time in a decade.
The international ratings agency announced on January 26 it had lowered its rating for Russian government debt to BB+ from BBB-.
It added a negative outlook on the rating, saying, "The downgrade reflects our view that Russia's monetary policy flexibility has become more limited and its economic growth prospects have weakened."
The ratings agency last downgraded Russia in April.
Earlier this month, Fitch Ratings cut Russia’s credit rating to BBB- and added a negative outlook on the rating.
The world’s biggest energy exporter is on the brink of a recession after crude prices fell to the lowest since 2009 and the West imposed sanctions following Russia’s annexation of Crimea in March, curbing investor appetite for the ruble.