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Andrey, a Russian entrepreneur living in Brazil who, fearing retaliation, asked that NPR not use his last name, said Telegram has become one of the few places Russians can access independent news about the war. Russian President Vladimir Putin launched Russia's invasion of Ukraine in the early-morning hours of February 24, targeting several key cities with military strikes. Overall, extreme levels of fear in the market seems to have morphed into something more resembling concern. For example, the Cboe Volatility Index fell from its 2022 peak of 36, which it hit Monday, to around 30 on Friday, a sign of easing tensions. Meanwhile, while the price of WTI crude oil slipped from Sunday’s multiyear high $130 of barrel to $109 a pop. Markets have been expecting heavy restrictions on Russian oil, some of which the U.S. has already imposed, and that would reduce the global supply and bring about even more burdensome inflation. Such instructions could actually endanger people — citizens receive air strike warnings via smartphone alerts. "We as Ukrainians believe that the truth is on our side, whether it's truth that you're proclaiming about the war and everything else, why would you want to hide it?," he said.
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