International Monetary Fund: Sanctions against Russia significantly affect the global economy
On March 5th, the International Monetary Fund announced that the events in Ukraine and the sanctions against Russia will significantly affect the global economy and the state of financial markets.
The RIA Novosti news agency quoted the fund as saying in a statement that although the situation is fundamentally unstable, the economic consequences are now serious.
The statement noted that the prices of energy, raw materials, wheat and other grains have risen, which has added to the pressure of economic inflation.
The Fund expected that the price increase would affect the whole world, especially those with low incomes, whose purchase of food and fuel constitutes the largest share of their expenditures.
Press reports indicated earlier that the economic sanctions imposed on Russia by America and the European Union led to a sharp and record rise in the prices of oil, gas, minerals, grains and food stuff around the world.
O. al-Mohammad