RUSSIA VS UKRAINE: GLOBAL TENSION
AS world leaders condemn Russia for its military actions in Crimea, Ukraine, the escalating tensions have caused a spike in oil and gas prices and turmoil in stock markets, leaving analysts awaiting the outcome on the value of the Australian dollar.
While Ukraine only contributes to about 0.2 per cent of global gross domestic product and of itself has little influence on the world economy, economists have suggested the biggest danger to global growth, outside of outright war between Russia and Ukraine, was the possibility that sanctions or political acts could disrupt the flow of natural gas to Europe and push the euro zone back into recession.
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