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Sanctions against Russia will have a stronger impact on the global economy than the situation in Ukraine, said the head of the World Bank, David Malpass, speaking at an event organized by The Washington Post.
Malpass noted that because of the hostilities in Ukraine, global GDP is facing “an immediate short-term impact.” At the same time, tough restrictive measures against the Russian Federation will have a more serious and lasting impact on it.
The head of the World Bank also noted that the consequences of the sanctions imposed against Russia “will spread to the population of the country as a direct result of the devaluation of the ruble.”
On February 24, Russian President Vladimir Putin made an emergency appeal to the Russians and announced a special military operation in the Donbass. In his speech, he stated that “circumstances require decisive action from Russia” and stressed that “Russia will not allow Ukraine to have nuclear weapons.” In response to Russia’s actions, Western countries (USA, Canada, EU, UK, Japan) announced new, tougher sanctions against the Russian Federation, including financial and economic ones.
You can follow the chronicle of events in connection with the situation in Ukraine here.
Source: Rosbalt
Tristin is an accomplished author and journalist, known for his in-depth and engaging writing on sports. He currently works as a writer at 247 News Agency, where he has established himself as a respected voice in the sports industry.
