Russia's central bank doubles interest rates to 20%

Russia's central bank increased interest rates on Monday from 9.5% to 20% after the country's currency, the ruble, plummeted following a raft of new sanctions over the invasion of Ukraine.

The big picture: The Bank of Russia also announced a series of measures in response to the sanctions — including that brokers must "suspend the execution of all orders by foreign legal entities and persons who want to sell off their Russian investments, such as stocks and shares," per a BBC translation.