Praktical Economics

The MH17 crash in the Ukrainian skies has made the Russia-Ukraine crisis very serious. US has imposed heavy sanctions on Russian banks and energy companies. Europe may follow suit, although unwillingly. Here is a brief analysis of the sanctions and their effects on the World Economy.

The BRICS leaders met in Brasilia on 15 th July 2014 and signed the long anticipated document to create the $100 billion BRICS Development Bank and a reserve currency pool worth over another $100 billion. Documents on cooperation between BRICS export credit agencies and an agreement of cooperation on innovation were also inked.