Australian and New Zealand dollars were holding their ground on Tuesday as strength in global commodity prices helped offset some of the investor unease about Russia's incursion into eastern Ukraine.
Putin ordered Russian troops to perform so-called "peacekeeping functions" in the two regions which are home to Moscow-backed rebels who have been fighting Ukrainian forces since 2014.
This comes after Russian President Vladimir Putin's announcement that he is putting Russian troops in separatist areas of eastern Ukraine as 'peacekeepers'
Deployment of what Russia called a peacekeeping operation in eastern Ukraine is nonsense and Moscow's recognition of the breakaway regions as independent is part of its pretext for war, said US to UN.
This comes in response to Moscow's decision to recognize two breakaway regions of Ukraine as independent
Condemning Putin's decision to recognise Donetsk and Luhansk as independent, US Secretary of State Antony Blinken on Monday stated it a clear attack on Ukraine's sovereignty and territorial integrity.
China's embassy in Ukraine on Tuesday warned Chinese nationals and businesses in Ukraine against venturing to "unstable" areas, but didn't advised them to leave the country.
Australian shares fell on Tuesday as tensions between Russia and the West grew after Moscow recognised two breakaway regions in eastern Ukraine namely Donetsk and Luhansk as independent.
Oil jumped to a seven-year high, safe-havens rallied and US stock futures dived on Tuesday after Russian President Vladimir Putin ordered troops into breakaway regions of eastern Ukraine.
UN Secretary-General Antonio Guterres has expressed his deep concern over Russia's decision on the status of Donetsk and Lugansk of Ukraine.
The recognition of the rebel regions came as over 150,000 Russian troops have surrounded Ukraine from three sides in what the US and its allies saw as a sign of an imminent invasion.
Russian President Vladimir Putin recognised two breakaway regions in eastern Ukraine as independent on Monday
This comes at a time when there is a massive military build-up along the border of Ukraine and the West has expressed their worries over the possible invasion of Ukraine by Russia.
Putin described Ukraine as an integral part of Russia's history, with eastern Ukraine made up of ancient Russian lands, and he was confident the Russian people would support his decision.
LIC has not paid any dividends in nearly three years, something that may have helped shore up the insurer's net worth ahead of its IPO. More on that in our top headlines.
Russian President Putin on Monday recognised the independence of Moscow-backed rebel regions in eastern Ukraine, a move that will further fuel tensions with the West amid fears of Russian invasion.
EU Commission President and Council President say in a joint statement that the recognition is 'a blatant violation of international law'
Western leaders have until now refused to be drawn on the details of the responses they have agreed on if Russia invaded
Ukrainian authorities deny launching an offensive and accuse Russia of provocation amid intensifying shelling along the line of contact
U.S. stock futures and European stocks lost earlier gains made on news that U.S. President Joe Biden and Russian President Vladimir Putin had agreed in principle to hold a summit on the Ukraine crisis