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US and allies agree to release 60 million barrels of oil from their reserves as Russian invasion of Ukraine causes price spike

Phil Mattingly Kevin Liptak Kaitlan Collins Natasha Bertrand Matt Egan
By Phil Mattingly, Kevin Liptak, Kaitlan Collins, Natasha Bertrand and Matt Egan, CNN
Updated 12:39 PM EST, Tue March 1, 2022
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An employee handles 5000 ruble banknotes inside an Otkritie Bank FC PJSC branch in Moscow, Russia, on Tuesday, Jan. 18, 2022. UniCredit SpA is interested in a potential takeover of rescued Russian lender Otkritie Bank, as Chief Executive Officer Andrea Orcel explores M&A opportunities to improve the groups profitability. Photographer: Andrey Rudakov/Bloomberg via Getty Images
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Russia's ruble crashes as its banking system reels
01:39 - Source: CNNBusiness
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An employee handles 5000 ruble banknotes inside an Otkritie Bank FC PJSC branch in Moscow, Russia, on Tuesday, Jan. 18, 2022. UniCredit SpA is interested in a potential takeover of rescued Russian lender Otkritie Bank, as Chief Executive Officer Andrea Orcel explores M&A opportunities to improve the groups profitability. Photographer: Andrey Rudakov/Bloomberg via Getty Images
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Russia's ruble crashes as its banking system reels
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