Could economic sanctions on Russia hurt the rest of the world? | Russia-Ukraine crisis News

Video Period 24 minutes 25 seconds

From: Inside Story

Warnings of steep value rises for Russian oil, fuel and different commodities.

Russia’s invasion of Ukraine has triggered among the most extreme sanctions ever from the West.

They’re designed to harm the financial system and deprive President Vladimir Putin of cash to pay for the conflict.

The rouble has fallen by a 3rd towards the US greenback.

The US, the European Union and their allies are blocking entry to Russia’s international money reserves.

Some banks have been banned from the SWIFT messaging system for worldwide transactions.

Fearful Russians have withdrawn massive quantities of money from ATMs.

Russia is a serious exporter of oil, fuel and grains, and the costs of these commodities are already excessive.

So may the sanctions additional hit the price of residing for the remainder of the world?

Presenter: Nick Clark

Visitors:

Pavel Felgenhauer – defence and army analyst

Dan Wang – chief economist, Cling Seng Financial institution (China)

Jeevun Sandher – economist, King’s Faculty London

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