LONDON — European stocks are expected to open higher on Wednesday as investors continue to monitor the latest developments in the Russia-Ukraine crisis.

United Kingdom’s FTSEThe index opens at 7 499, Germany’s 5th highest point. DAX 82 points higher at 14,743, France’s CAC 40 up 27 points at 6,804 and Italy’s FTSE MIBData from IG shows that 26131 saw an increase in points of 122.

The events taking place in Europe this week caused global market turmoil. Putin ordered troops into two breakaway regions of eastern Ukraine. He had announced on Monday night that he would recognize the independence of their country.

The EU, U.K. and Russia announced sanctions earlier Tuesday, while the U.S. followed suit later in the day. President Joe Biden annouced a first tranche sanctions against Russia, which targets Russian banks, its sovereign debt and three people.

U.S. stock market futures were modestly higher in overnight trading Tuesday after the S&P 500 closed in correction territory amid escalating tensions between Russia and Ukraine.

Analysts however believe that Federal Reserve rates will rise after March. may become less clear if Russia continues its incursion into Ukraine. U.S. Treasury yields fell as Ukraine-Russia tensions increased, and the benchmark U.S. 10-year Treasury yield dropped below 2% due to investors seeking safe-haven assets.

Barclays (Wolters Kluwer), Rio Tinto and Uniper are among the earners. The latest GfK consumer sentiment indicator from Germany is included in the data releases.

This report was prepared by Pippa Stephens of CNBC.