Canada has announced that it’s imposing new sanctions on 14 close associates of the Russian regime, including President Putin’s two adult daughters
From CNN’s Julia Horowitz in London
"The economic effects of the war are spreading far and wide," the organization said in its latest outlook, published Tuesday. IMF says the conflict will hit Ukraine and Russia the hardest. The IMF expects Ukraine's economy to shrink 35% this year, while the West's efforts to punish Russia are poised to cause its economy to contract by 8.5%. But because the war has caused a spike in the price of energy and other commodities, worsening supply chain problems and feeding expectations for more persistent inflation, its effects will be felt almost everywhere.
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