The mere threat of a default was enough to see the US’s credit rating downgraded in 2021. The consequences of a default actually happening could be dire, an economist warns.
Most wonderful time of the year, even while there’s a war on.
Igor Evdokimov/Kommersant/Sipa USA
Alex Titov took a trip home to St Petersburg in December. Here’s what he found.
Gas prices are displayed at a gas station in Frankfurt, Germany. OPEC countries have decided to cut oil production by 2 million barrels per day in response to rising global interest rates.
(AP Photo/Michael Probst)
The impact of oil sanctions on Russia is limited compared to the severe repercussions they have on the global economy and other countries’ abilities to achieve energy security and transition.
The US has frozen tens of billions of dollars worth of assets belonging to Russians and their government. A legal scholar explains why confiscating them is a bit trickier.
People march in Saskatoon, Sask., with the flag of Ukraine during a rally mourning the deaths of civilians killed during the Russian invasion of Ukraine.
THE CANADIAN PRESS/Heywood Yu
Canada has played the role of a global peace advocate before. Rarely has the world needed it more than right now.
Members of Congress give Ukrainian President Volodymyr Zelensky a standing ovation during a speech by videoconference on Capitol Hill in Washington, D.C., on March 16, 2022. Ukraine says it is pioneering a new source of financial support: cryptocurrency.
(Sarahbeth Maney/The New York Times via AP)
Cryptocurrency allows Ukraine to get quick financial support, and Russia, to bypass international sanctions and protect some of its economic interests.
Everyday Russians, like these people in Moscow, may shoulder much of the burden of the world’s economic sanctions aimed at Vladimir Putin and his oligarchs.
AFP via Getty Images
A feature of the international community’s response to Russia’s aggression against Ukraine has been the adoption of sanctions. So what are sanctions? And are they likely to have any meaningful impact?
Steven Hamilton, Crawford School of Public Policy, Australian National University
Denying Russia’s central bank access to its offshore reserves threatens hyperinflation, a recession and massive unemployment.
Russians in Moscow and elsewhere flocked to ATMs to withdraw cash, fearful that the ruble will plunge further due to Western sanctions.
AP Photo/Victor Berzkin
By working with allies, the Biden administration has been able to place severe sanctions on Russia – including targeting Putin’s inner circle and banning banks from SWIFT.
Russian President Vladimir Putin’s popularity is on the rise again, but conflict with Ukraine may eventually change that.
Alexander Nemenov/AFP via Getty Images
Approximately 69% of Russians approve of President Vladimir Putin. But a costly war is likely to chip away at his popularity, history and data tell us.
Sergei Magnitsky’s legacy lives on through sanctions in his name.
Andrey Smirnov/AFP via Getty Images)
Named after a tax expert who died in police custody after uncovering fraud by Russian officials, Magnitsky sanctions target individuals accused of human rights violations.
Is it a weapon or merely trade?
AP Photo/Dmitry Lovetsky
The Biden administration hopes the threat of harsh sanctions from a united West will deter Putin from invading Ukraine. But Russia has a long history of using energy to divide the US and Europe.