WASHINGTON - Russia's suddenly escalating financial crisis risks spilling beyond its borders and endangering parts of the global economy. With economies in Europe, Japan, China and Latin America already ailing, fresh threats have emerged from Russia's shriveled currency, its move to dramatically boost interest rates, the damage from plummeting oil prices and Western sanctions over Russia's action in Ukraine.
Russia's War Against Ukraine
Associated Press: Russia’s sinking economy becoming a global threat
Pedestrians walk past a board listing foreign currency rates against the Russian ruble outside an exchange office in central Moscow, on Dec. 12, 2014.
