Economic dangers from Russia's invasion ripple across globe
2 years, 9 months ago

Economic dangers from Russia's invasion ripple across globe

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. “We know there are consequences that we cannot predict.’’ For now at least, the damage to the overall global economy appears to be relatively slight, if only because Russia and Ukraine are not economic powerhouses. They have thrown major Russian banks off the SWIFT international payment system, limited high tech exports to Russia and severely restricted Moscow’s use of its foreign currency reserves. Russia and Ukraine together supply 13% of the world’s titanium, which is used to make passenger jets and 30% of the palladium, which goes into cars, cellphones and dental fillings, Zandi said. Now, the fighting and sanctions that have disrupted Russia trade with the global economy threaten to send prices ever higher, especially for energy: Russia and Ukraine, Zandi said, together produce 12% of the world’s oil and 17% of its natural gas.

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History of this topic

How Russia's weakening economy could impact the war with Ukraine
2 weeks, 3 days ago

How Russia's weakening economy could impact the war with Ukraine

NPR  

How Russia's weakening economy could impact the war with Ukraine NPR's Elissa Nadworny talks with Alexandra Prokopenko, of the Carnegie Russia Eurasia Center, about weakness in the Russian economy and what that might mean for the country's war in Ukraine. Alexandra Prokopenko worked at the Russian Central Bank and is now a fellow at the Carnegie Russia Eurasia Center. NADWORNY: …

Russia’s war economy shows new cracks after the ruble plunges
3 weeks, 3 days ago

Russia’s war economy shows new cracks after the ruble plunges

Live Mint  

The Russian economy, surprisingly resilient through two-plus years of war and sanctions, has suddenly begun to show serious strains. The catalyst for the change in economic fortunes was a decision by the Biden administration to ratchet up sanctions on Russia’s Gazprombank, the last major unsanctioned bank that Moscow uses to pay soldiers and process trade transactions, as well as more …

Russia is locking up butter as inflation crisis reaches new heights
1 month ago

Russia is locking up butter as inflation crisis reaches new heights

CNN  

CNN — Americans have spent the last few years complaining about inflation. But an influential group of Russian economists said on Telegram this week that “increased inflationary pressure will not only persist but may even increase.” Russia’s President Vladimir Putin said earlier this month that the Russian economy needs nearly 1 million new workers because of an unemployment rate of …

Russia is locking up butter as inflation crisis reaches new heights
Top News
1 month ago

Russia is locking up butter as inflation crisis reaches new heights

CNN  

CNN — Americans have spent the last few years complaining about inflation. But an influential group of Russian economists said on Telegram this week that “increased inflationary pressure will not only persist but may even increase.” Russia’s President Vladimir Putin said earlier this month that the Russian economy needs nearly 1 million new workers because of an unemployment rate of …

Russia is locking up butter as inflation crisis reaches new heights
Top News
1 month ago

Russia is locking up butter as inflation crisis reaches new heights

CNN  

CNN — Americans have spent the last few years complaining about inflation. But an influential group of Russian economists said on Telegram this week that “increased inflationary pressure will not only persist but may even increase.” Russia’s President Vladimir Putin said earlier this month that the Russian economy needs nearly 1 million new workers because of an unemployment rate of …

Why Putin’s inflation battle is weakening Russia from within
4 months, 1 week ago

Why Putin’s inflation battle is weakening Russia from within

The Telegraph  

There is no better signal that money is tight than Putin’s decision to appoint a trained economist with zero military experience as his defence minister. “The risk is that a slowdown in growth will become much more pronounced than moderation in inflation which could mean that Russia might be facing a scenario of stagflation as early as next year. This …

As Putin eyes sure reelection, Russia’s economy defies sanctions, critics
9 months, 1 week ago

As Putin eyes sure reelection, Russia’s economy defies sanctions, critics

Al Jazeera  

Russian president’s all but guaranteed fifth term in power comes as economy has outperformed expectations. But I doubt that drinking Dobry Cola instead of Coca-Cola will change the election.” Owing to high oil prices and elevated military spending, Russia has managed to mitigate much of the impact of sanctions. It’s true that oil and gas exports have fallen because of …

The world economy will slow next year because of inflation, high rates and war, OECD says
1 year ago

The world economy will slow next year because of inflation, high rates and war, OECD says

Associated Press  

WASHINGTON — The global economy, which has proved surprisingly resilient this year, is expected to falter next year under the strain of wars, still-elevated inflation and continued high interest rates. China’s “consumption growth will likely remain subdued due to increased precautionary savings, gloomier prospects for employment creation and heightened uncertainty,″ the OECD said. The world economy has endured one shock …

Explained: Blood and billions, the cost of Russia’s war in Ukraine
1 year, 4 months ago

Explained: Blood and billions, the cost of Russia’s war in Ukraine

Live Mint  

Russia's invasion of Ukraine has left tens of thousands of dead, displaced millions and sown economic turmoil across the world in the 18 months since its launch on Feb. 24, 2022. The conflict in eastern Ukraine began in 2014 after a pro-Russian president was toppled in Ukraine's Maidan Revolution and Russia annexed Crimea, with Russian-backed forces fighting Ukraine's armed forces. …

Russia’s economy can withstand a long war, but not a more intense one
1 year, 5 months ago

Russia’s economy can withstand a long war, but not a more intense one

Hindustan Times  

A WEEK AFTER Russia invaded Ukraine last year, Antony Blinken, America’s secretary of state, crowed, “The value of the ruble has plummeted; the Russian stockmarket closed as fear of capital flight rose; interest rates more than doubled; Russia’s credit rating has been cut to junk status.” American authorities clearly hoped that the “massive, unprecedented consequences” they and their allies had …

June 25, 2023 Russia-Ukraine news
1 year, 5 months ago

June 25, 2023 Russia-Ukraine news

CNN  

Russia is exporting as much oil now as it did before its full-scale invasion of Ukraine. That’s what it nearly got this weekend as disaffected Russian mercenaries marched toward Moscow, drawing a stark warning from President Vladimir Putin that the country was on the brink of a 1917-style “civil war.” The armed insurrection has been defused — for now — …

June 25, 2023 Russia-Ukraine news
1 year, 5 months ago

June 25, 2023 Russia-Ukraine news

CNN  

Russia is exporting as much oil now as it did before its full-scale invasion of Ukraine. That’s what it nearly got this weekend as disaffected Russian mercenaries marched toward Moscow, drawing a stark warning from President Vladimir Putin that the country was on the brink of a 1917-style “civil war.” The armed insurrection has been defused — for now — …

Inflation in Europe drops to lowest level since Russia invaded Ukraine
1 year, 6 months ago

Inflation in Europe drops to lowest level since Russia invaded Ukraine

CNN  

London CNN — Inflation in Europe has fallen to its slowest pace since Russia invaded Ukraine, bolstering the case for the region’s central bank to bring interest rate hikes to an end soon. That’s the lowest rate of inflation since February 2022, when Moscow launched a full-scale invasion of its neighbor, sending global energy prices soaring. That could give the …

Europe’s economic outlook brightens a little after avoiding recession. But inflation still squeezes
1 year, 7 months ago

Europe’s economic outlook brightens a little after avoiding recession. But inflation still squeezes

Associated Press  

FRANKFURT, Germany — The European Union’s executive body raised its economic growth forecast, saying Europe had dodged a winter recession that was feared amid an energy crisis but warning that stubbornly high inflation is likely to keep hurting the economy by sapping people’s ability to spend. The outlook for the 20 countries using the euro currency improved to growth of …

Russia will run out of money next year, need 'friendly' nations to invest, says oligarch
1 year, 9 months ago

Russia will run out of money next year, need 'friendly' nations to invest, says oligarch

India Today  

Russia's treasury may run dry within a year, necessitating foreign investment, said outspoken Russian oligarch Oleg Deripaska at an economic conference in Siberia on Thursday. “There will be no money already next year, we need foreign investors,” he said in light of the Russia-Ukraine war, as per comments reported by TASS, a Russian state-owned news agency. Russia's economic output fell …

'Economic crisis awaiting.. Russia may run out of money by next year', claims outspoken Oligarch Deripaska
1 year, 9 months ago

'Economic crisis awaiting.. Russia may run out of money by next year', claims outspoken Oligarch Deripaska

India TV News  

Awaiting crisis: Amid the unprecedented crisis that erupted following the escalation of the brutal war against Ukraine, a Russian oligarch made a big claim wherein he asserted that Moscow would run out of money by 2024. According to outspoken Russian oligarch Oleg Deripaska, the country would plunge into further economic crisis, if it does not attract foreign investments. "There will …

Russia after a year of sanctions
1 year, 9 months ago

Russia after a year of sanctions

Al Jazeera  

The Russian economy has fallen into a recession, but economic and political instability are not yet on the horizon. After Russia’s full-scale invasion of Ukraine in February 2022, Western countries imposed numerous sanctions against Russian banks and companies, which significantly affected the Russian economy. The combined share of these raw materials in Russian exports in 2021 was 11.7 percent, so …

How Russia’s invasion of Ukraine changed financial markets
1 year, 9 months ago

How Russia’s invasion of Ukraine changed financial markets

Live Mint  

A year after Russian tanks rolled into Ukraine, markets have absorbed many of the short-term impacts, but investors say the conflict could have longer-lasting financial consequences. Still, some investors say the war could make global inflation more entrenched, as it disrupts world commodity markets, splinters supply chains and prompts nations to spend more on defense and energy security. Ukraine and …

The Ukraine war has shaken up a delicate post-Cold War order
1 year, 10 months ago

The Ukraine war has shaken up a delicate post-Cold War order

Live Mint  

On 24 February, 2022, Russian President Vladimir Putin launched a full-scale invasion of Ukraine, not only provoking the largest armed conflict in Europe since World War II, but also setting in motion geopolitical trends that are likely to change the contours of the post-Cold War global order. Writing in Foreign Affairs, Ukrainian historian Georgiy Kasianov underlines how contrasting historical narratives …

The ripple effects of Russia's war in Ukraine continue to change the world
1 year, 10 months ago

The ripple effects of Russia's war in Ukraine continue to change the world

NPR  

The ripple effects of Russia's war in Ukraine continue to change the world Loading. A year after Russia's invasion of Ukraine sparked the largest conflict in Europe since World War II, the repercussions continue to reverberate around the world. Turkey and the United Nations brokered a deal last summer to allow Ukrainian grain to pass through Black Sea ports, but …

Russian economy shrank 2.1% in 2022, much less than expected
1 year, 10 months ago

Russian economy shrank 2.1% in 2022, much less than expected

Al Jazeera  

The economy defied fears of a recession and previous predictions that it would contract by more than 12 percent. Russia’s economy contracted by 2.1 percent last year, the federal statistics service said on Monday, shrinking less than expected despite its invasion of Ukraine last February and sanctions imposed by European nations and the United States. The economy ministry had at …

Bleak global economic outlook amid the Ukraine proxy war
1 year, 10 months ago

Bleak global economic outlook amid the Ukraine proxy war

China Daily  

Thanks to the proxy war global growth is expected to decelerate sharply to 1.7 percent in 2023. West’s tough 2022 and darker 2023 Currently, the risk of recession casts a dark shadow over the US economy, in which rising food and energy prices, coupled with a tight labor market and the Federal Reserve’s misguided monetary responses, pushed inflation to multi-decade …

The surprisingly normal life in Russia after 10 months of war with Ukraine
1 year, 11 months ago

The surprisingly normal life in Russia after 10 months of war with Ukraine

Firstpost  

It’s been a year since I last visited Russia. If this is a crisis for Russia — which it is — it’s nothing like the turmoil of the early 1990s when the state, society and economy were all collapsing at the same time. You see reports about it on TV news and chat shows, but I felt much better informed …

World Bank: Recession a looming threat for global economy
1 year, 11 months ago

World Bank: Recession a looming threat for global economy

Associated Press  

WASHINGTON — The global economy will come “perilously close” to a recession this year, led by weaker growth in all the world’s top economies — the United States, Europe and China — the World Bank warned on Tuesday. Though the United States might avoid a recession this year — the World Bank predicts the U.S. economy will eke out growth …

5 global crises that will keep you on edge this year
1 year, 11 months ago

5 global crises that will keep you on edge this year

Live Mint  

After a turbulent 2022, the world is heading into another year of multiple disruptions, apart from an economic slowdown. An attack on Moscow-held territories like Crimea may push Ukraine and its backers to a catastrophic conflict with Russia. Finance panel will firm up regulators: Jayant Sinha 'Successful investing is a piece of art' Budget may give a big push to …

An epic dollar rally goes into reverse—and investors expect further declines
1 year, 11 months ago

An epic dollar rally goes into reverse—and investors expect further declines

Live Mint  

The U.S. dollar’s rally in 2022 gave the world a reminder of the currency’s ability to inflict pain on the global economy. “That was the massive change, because that created this second global inflation shock that forced the Fed to go the way it did.” The effects of the dollar’s rise have been global, helping to push foreign currencies down …

EXPLAINER: Can Ukraine pay for war without wrecking economy?
2 years ago

EXPLAINER: Can Ukraine pay for war without wrecking economy?

Associated Press  

FRANKFURT, Germany — Even as Ukraine celebrates recent battlefield victories, its government faces a looming challenge on the financial front: how to pay the enormous cost of the war effort without triggering out-of-control price spikes for ordinary people or piling up debt that could hamper postwar reconstruction. The struggle is finding loans or donations to cover a massive budget deficit …

Inflation hits new record in Europe, slowing economy
2 years, 1 month ago

Inflation hits new record in Europe, slowing economy

The Hindu  

Inflation hit a new record in the 19 countries that use the euro currency, fueled by out-of-control prices for natural gas and electricity due to Russia's war in Ukraine. While liquid gas succeeded in filling Europe's storage for the winter, the higher prices have made some industrial products such as steel or fertilizer expensive or simply unprofitable to make. Natural …

What is the current global economic situation? | In Focus podcast
2 years, 2 months ago

What is the current global economic situation? | In Focus podcast

The Hindu  

If the Covid-19 pandemic turned our world upside down, Russia’s invasion of Ukraine has added to the global economic gloom. We thought it apt to now take a quick snapshot of major economies undergoing stress and of places where policy action is going against the grain. We chose to review the US’s interest actions, the UK’s fiscal and currency woes, …

World Bank: Ukraine’s war-torn economy will sink 35% in ’22
2 years, 2 months ago

World Bank: Ukraine’s war-torn economy will sink 35% in ’22

Associated Press  

WASHINGTON — Devastated by Russia’s invasion eight months ago, the Ukrainian economy will plunge 35% this year, the World Bank forecast Tuesday. The World Bank, a 189-country anti-poverty agency, estimates that rebuilding the country will cost at least $349 billion, 1.5 times the size of Ukraine’s prewar economy. “Ukraine continues to need enormous financial support as the war needlessly rages …

OECD: War in Ukraine to drag on global economy into 2023
2 years, 2 months ago

OECD: War in Ukraine to drag on global economy into 2023

Associated Press  

PARIS — Russia’s war in Ukraine and the lingering effects of the COVID-19 pandemic are dragging down global economic growth more than expected and driving up inflation that will stay high into next year, the Organization for Economic Cooperation and Development said Monday in a darkening outlook. The inflation and energy supply shock led the OECD to project annual economic …

How bad is Putin’s long war for the world and Indian economy?
2 years, 3 months ago

How bad is Putin’s long war for the world and Indian economy?

Live Mint  

Russia’s partial mobilization of reservists, announced on Wednesday by President Vladimir Putin, makes it clear that the war in Ukraine is far from over. This move differs from what is called ‘general mobilization’—it would involve drafting soldiers from the general citizenry and reorienting Russia’s national economy and polity towards the objective of winning the war in Ukraine. Contrary to hopes …

Is Russia’s economic resilience realigning the global economic order | In Focus podcast
2 years, 3 months ago

Is Russia’s economic resilience realigning the global economic order | In Focus podcast

The Hindu  

Western sanctions had initially threatened to derail the Russian economy ever since the country invaded Ukraine. However, Russia has shown a resilience that has surprised observers, and which has the potential to realign the global economic order. In a recent article for Business Line, Biswajit Dhar, Professor of Economics at the JNU, points out how observers’ projections for Russia’s GDP …

Russian economy to decline by 2-2.5%: Putin after 6 months of war in Ukraine
2 years, 3 months ago

Russian economy to decline by 2-2.5%: Putin after 6 months of war in Ukraine

Live Mint  

Russian President Vladimir Putin said on Wednesday that Russia's economy will decline by 2-2.5 per cent, about six months after he declared a “special military operation” in Ukraine. Vladimir Putin said Russia's budget surplus would come in at 0.5 trillion roubles in 2022, and the GDP would fall by "around 2% or a little more." “I’m sure that we’ve lost …

Mint Explainer: Is Putin pushing Europe towards a recession?
2 years, 3 months ago

Mint Explainer: Is Putin pushing Europe towards a recession?

Live Mint  

As the stock market frets over the US Federal Reserve’s hawkish stance on inflation, another deep crisis is brewing in Europe. Russia has drastically cut natural gas supplies to Europe, sending energy prices soaring. Now, as the European Union opposed Russia’s invasion of Ukraine, imposed sanctions against Russia and offered military and humanitarian aid to Ukraine, Putin responded with sharp …

Russia’s war at 6 months: A global economy in growing danger
2 years, 4 months ago

Russia’s war at 6 months: A global economy in growing danger

Associated Press  

MECKENHEIM, Germany — Martin Kopf needs natural gas to run his family’s company, Zinkpower GmbH, which rustproofs steel components in western Germany. Russia’s war led the International Monetary Fund last month to downgrade its outlook for the global economy for the fourth time in under a year. “The world may soon be teetering on the edge of a global recession, …

Russia ministry says economic slump less severe than feared
2 years, 4 months ago

Russia ministry says economic slump less severe than feared

Al Jazeera  

Economy ministry says gross domestic product to shrink 4.2 percent this year amid sanctions over the war in Ukraine. Russia’s economy will contract less than expected and inflation will not be as high as projected three months ago, economy ministry forecasts showed, suggesting the economy is dealing with sanctions better than initially feared. Yet nearly six months since Russia started …

Putin’s war sets Russian economy back 4 years in single quarter
2 years, 4 months ago

Putin’s war sets Russian economy back 4 years in single quarter

Al Jazeera  

A wave of international sanctions after Moscow’s invasion of Ukraine disrupted Russia’s trade and threw various of its industries into paralysis. President Vladimir Putin’s invasion of Ukraine set Russia’s economy back four years in the first full quarter after the attack, putting it on track for one of the longest downturns on record even if less sharply than initially feared. …

Pacific rim economies in doldrums, sapped by inflation, war
2 years, 4 months ago

Pacific rim economies in doldrums, sapped by inflation, war

Associated Press  

BANGKOK — Economies in the Asia-Pacific are forecast to hit the doldrums this year as decades-high inflation and the war in Ukraine compound geopolitical uncertainties and the aftereffects of the pandemic. A report on Pacific Rim economies by the Asia Pacific Economic Cooperation forum said Friday that growth in the region will likely fall by more than half this year …

Russia’s central bank slashes rate, saying inflation slows
2 years, 5 months ago

Russia’s central bank slashes rate, saying inflation slows

Associated Press  

MOSCOW — The Russian central bank diverged from its Western counterparts by slashing its key interest rate Friday just a month after dropping it to where it was before the country sent troops into Ukraine. “The recent essentially involuntary accumulation of savings is a compressed spring in the economy, which can cause dramatic consumption growth under certain circumstances,” central bank …

Russia’s war to keep hitting EU economy, push up inflation
2 years, 5 months ago

Russia’s war to keep hitting EU economy, push up inflation

Associated Press  

BRUSSELS — Russia’s war in Ukraine is expected to wreak havoc with the European Union’s economic recovery for the foreseeable future with lower annual growth and record-high inflation, the bloc’s economic forecast showed Thursday. “Russia’s war against Ukraine continues to cast a long shadow over Europe and our economy,” EU Vice President Valdis Dombrovskis said. Further reductions in gas supply …

Russia-Ukraine latest updates: Putin warns of energy crisis
2 years, 5 months ago

Russia-Ukraine latest updates: Putin warns of energy crisis

Al Jazeera  

Russia-Ukraine news from July 8: Putin says sanctions could have catastrophic consequences” on the global energy market. 8 Jul 2022 - 19:07 GMT Sanctions ‘catastrophic’ for energy market: Putin Russian President Vladimir Putin has warned of possible “catastrophic consequences” of Western sanctions on the global energy market. “The result of your work, which we see, really makes us feel proud …

Russia’s central bank cuts interest rates to prewar level
2 years, 6 months ago

Russia’s central bank cuts interest rates to prewar level

Associated Press  

Russia’s central bank cut interest rates back to their prewar levels Friday, saying inflation and economic activity were developing better than expected despite sweeping Western sanctions imposed in response to the war in Ukraine. Economists say that over time the sanctions will corrode growth and productivity, but the central bank has managed to stabilize Russia’s currency and financial system through …

Russia-Ukraine war threatens prolonged effect on global economy
2 years, 6 months ago

Russia-Ukraine war threatens prolonged effect on global economy

Al Jazeera  

The OECD has slashed its outlook for global growth and doubled inflation projection, warning fallout from war could worsen. The world economy will pay a “hefty price” for the war in Ukraine encompassing weaker growth, stronger inflation and potentially long-lasting damage to supply chains, the OECD said. While the OECD said it’s warranted for all monetary authorities to pare back …

World Bank dims outlook for global economy amid Russia war
2 years, 6 months ago

World Bank dims outlook for global economy amid Russia war

Associated Press  

WASHINGTON — The World Bank has sharply downgraded its outlook for the global economy, pointing to Russia’s war against Ukraine, the prospect of widespread food shortages and concerns about the potential return of “stagflation” — a toxic mix of high inflation and sluggish growth unseen for more than four decades. In China, the world’s second-biggest economy after the United States, …

Russia Ukraine Conflict Could Cause Global Recession, Says World Bank Chief
2 years, 6 months ago

Russia Ukraine Conflict Could Cause Global Recession, Says World Bank Chief

News 18  

David Malpass, chief of the World Bank. has warned that Russia’s ongoing invasion of Ukraine could cause a global recession as the price of food, energy and fertiliser jump. “As we look at the global GDP, it’s hard right now to see how we avoid a recession… The idea of energy prices doubling is enough to trigger a recession by …

Effects of Russia-Ukraine conflict on Asian Economies
2 years, 7 months ago

Effects of Russia-Ukraine conflict on Asian Economies

Hindustan Times  

The ongoing Russia-Ukraine conflict has a great potential to hamper the post-Covid economic recovery of the Asian/Southeast Asia region. When it comes to the Southeast Asian region, particularly the Association of South East Asian Nations nations, they do not have direct economic links with Russia, however, there has been a surge in commodity prices, especially oil, which has become fairly …

After three months of war, life in Russia has profoundly changed
2 years, 7 months ago

After three months of war, life in Russia has profoundly changed

LA Times  

Few shoppers have visited the GUM department store in Moscow since Russia’s invasion of Ukraine on Feb. 24. After Russian authorities passed a law calling for up to 15 years’ imprisonment for stories that include “fake news” about the war, many significant independent news media shut down or suspended operations. Andrei Kolesnikov of the Carnegie Moscow Center wrote in a …

How is Russia’s economy performing under Western sanctions?
2 years, 7 months ago

How is Russia’s economy performing under Western sanctions?

Al Jazeera  

The Kremlin says the economy is weathering the storm, but analysts warn of a steep future decline. Western nations imposed some of their strongest ever sanctions on Russia as punishment for invading Ukraine. They include freezing the central bank’s foreign reserves, banning oil and gas imports and suspending Russia’s banks from global financial systems. The American investment bank JP Morgan …

UK inflation hits 40-year high of 9% amid Russia-Ukraine war
2 years, 7 months ago

UK inflation hits 40-year high of 9% amid Russia-Ukraine war

India TV News  

Highlights Britain’s inflation rate rose to the highest level in 40 years last month It's due to Russia’s war in Ukraine which fueled further increases in food & fuel prices Consumer price inflation accelerated to 9% in the 12 months through April, up from 7% previous month Britain’s inflation rate rose to the highest level in 40 years last month …

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