Global economic tremors complicate Western leaders’ Russia sanctions
Growing fears of a global economic slowdown are complicating Western allies’ economic campaign against Russia, as world leaders struggle to craft new punishments for Moscow without compounding inflation and other domestic financial challenges.
When Russia invaded Ukraine in late February, American and European economic leaders believed their countries were on track for a successful rebound from the coronavirus pandemic and hopeful that inflation might abate.
But three months later, the global finance ministers gathering in western Germany this week face a more worrying international economic outlook amid fears that central bank interest hikes could help push parts of the global economy into recession. These head winds are putting additional pressure on the United States and Europe to ensure their sanctions on Russia do not further tip the world into a new economic crisis.
Read the full story here.
