Watch This | Sanctions and pushbacks: Where will this lead global economic recovery?
The escalating sanctions imposed by the West against Russia will not change Russia's actions in Ukraine, but instead add risks to global economic recovery through food and energy inflation, with emerging markets and developing economies more vulnerable to the pressure, experts said.
Since Russia's conflict with Ukraine that began in February, Western countries led by the U.S. have imposed an unprecedented array of sanctions against Russia, including removing some Russian banks from SWIFT, travel bans, asset freezes, and restrictions on trade and investments.
Hitting back at the Western sanctions, Russia has adopted a list of restrictive measures, including imposing export bans, servicing its external debts in rubles, limiting the outflow of capital, nationalizing assets of foreign firms that leave the country, and restricting foreign ships from Russia's ports.
(Source: CGTN)
Comment