MOSCOW: Russian stock indexes fell sharply Tuesday morning, after Moscow recognised the independence of Ukraine's two separatist regions and President Vladimir Putin sent troops into the Western-backed country.

The dollar-denominated RTS index was down 10.8 percent at 0713 GMT, and 32.5 percent since the start of the year.

The ruble-based MOEX fell by 8.8 percent.

The Russian currency also slid, with the ruble trading at more than 91 to the euro and 80.7 to the dollar.

Stocks skid, oil pops as Ukraine crisis deepens

The central bank said it was closely monitoring the situation.

"The Bank of Russia keeps the situation on the financial market under control and is ready to take all necessary measures to maintain financial stability," it said.

On Monday evening, Putin recognised the independence of Ukraine's separatist-held Donetsk and Lugansk regions, paving the way for the deployment of Russian troops.

Moscow's move triggered international condemnation and a promise of targeted sanctions from the United States and the European Union.