Ukraine Crisis Chokes East Europe Growth, World Bank Says - Bloomberg:
"Economic growth in eastern Europe will slow “sharply” this year because of dwindling demand from Russia, which may face wider sanctions from the U.S. and the European Union if it fails to help end violence in Ukraine.
Expansion will slow to 1.7 percent this year in the post-communist east from 2.2 percent last year, the Washington-based lender said on its website. The forecast includes the Czech Republic, Poland and Russia, which are considered high income by the World Bank.
The threat of additional retaliatory measures against Russia for President Vladimir Putin’s actions in neighboring Ukraine is endangering the region’s recovery from the impact of the euro area’s recession and debt crisis. U.S. President Barack Obama said last week Putin has weeks to stop supporting pro-Russian insurgents in Ukraine or face stiffer penalties."
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