What’s at Stake for Global Economy as Russia Standoff Escalates

A world economy that’s still recovering from Covid-19 faces new risks from an energy-price spike as the standoff between the West and Russia escalates.

The U.S. and its European allies unveiled limited sanctions on Tuesday, in response to Russian President Vladimir Putin’s decision to recognize two breakaway republics in eastern Ukraine, and warned that tougher penalties may follow. Russia, whose troops are massed around Ukraine, says it has no plans for a full-scale invasion.

Read More: Bloomberg Economics on the Impact of Russia-Ukraine Tensions

The crisis has driven oil prices toward $100 a barrel and sent tremors through other ...