Skip to Content

Currency markets

Russia's sinking economy becoming a global threat

Fallout from troubled Russia risks triggering default and increased aggression in Ukraine
Josh Boak, The Associated Press

WASHINGTON - Russia's suddenly escalating financial crisis risks spilling beyond its borders and endangering parts of the global economy.

With economies in Europe, Japan, China and Latin America already ailing, fresh threats have emerged from Russia's shriveled currency, its move to dramatically boost interest rates, the damage from plummeting oil prices and Western sanctions over Russia's action in Ukraine.

Syndicate content