Russia’s southern military district said on Tuesday its forces began withdrawing from Crimea and returning to their bases after completing exercises on the peninsula Russia seized from Ukraine, the Interfax news agency reported. .

Russian financial markets rallied on Tuesday after a report that Russia was withdrawing some troops near the Ukrainian border, as German Chancellor Olaf Scholz flew to Moscow for talks with President Vladimir Putin.

Interfax quoted the district command as saying some of the troops were moving to bases in Russia’s southern regions of Dagestan and North Ossetia. Russia annexed Crimea in 2014.

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