A new wave of Western sanctions is hitting Russia’s economy hard. State-owned energy firms continue to bleed profits and Russia’s national currency plunged to a new low this week after the U.S. and the European Union announced new sanctions to punish Russia’s aggressive stance in eastern Ukraine. The sanctions could also prove costly for European and American companies.
While some worry the country’s weak currency will fuel higher prices, others say Russian consumers, who tend to buy few imports, are not likely to feel the impact yet.
“They affect state enterprises, state companies; they affect banks; they now affect a broad number …read more
Source: Voice of America
