How cheap oil will hurt Iran's comeback

Iran may be about to emerge from decades of economic isolation -- at an absolutely terrible time for an oil-producing country.

Russia's Sberbank launches legal challenge against EU over Ukraine sanctions

The state-controlled bank confirmed it had filed a legal challenge at the General Court of the European Court of Justice on Thursday, but did not comment on the terms of the challenge.

European stock markets recover after another day of tumbles

Leading shares in London clawed back most of their early losses at the close after another day of market turmoil caused by renewed concerns about the eurozone economy and fears about the prospects for global growth.

Russian PM Medvedev vows to keep economy open, hails pivot to China

(Reuters) - Prime Minister Dmitry Medvedev said on Friday that Russia would not isolate its sanctions-hit economy from the West but said improving relations with Asian countries has become a key strategy.

U.S. and European Sanctions Take Aim at Putin’s Economic Efforts

WASHINGTON — The United States and the European Union dealt a blow on Friday to Russian efforts to develop future oil sources in the Arctic and elsewhere, broadening and deepening the range of sanctions imposed on Moscow in retaliation for its intervention in Ukraine despite the potential cost to Western firms like Exxon Mobil and BP.

Sanction-hit Russian economy nears recession

"The economy is close to recession," said Oleg Zasov, the head of forecasting at the economy ministry, according to Russian news agencies.

German economic growth to be hit by Ukraine crisis, Ifo head says

(Reuters) - German economic growth will shrink towards zero in the second quarter due to the Ukraine crisis and the tough new economic sanctions imposed on Russia from 0.8 percent in the first quarter, the head of Germany's Ifo institute said on Saturday.

Russia raises rates in move seen as arming for sanctions

(Reuters) - The Russian central bank unexpectedly raised interest rates on Friday, apparently preparing for possible further Western sanctions over Ukraine that could speed up capital flight from Moscow's already battered markets.

IMF Cuts 2014 Global Forecast After Slowdowns in China, U.S.

The International Monetary Fund lowered its outlook for global growth this year as expansions weaken from China to the U.S. and military conflicts raise the risk of a surge in oil prices.

Russia Faces More Sanctions as Monitors Held in Ukraine

Group of Seven leaders agreed to impose additional sanctions on Russia, blaming it for stoking the conflict in Ukraine as the government in Kiev said rebels had taken international military observers hostage.

EU foreign ministers meet in Athens to discuss Ukraine crisis, Syrian civil war

ATHENS, GREECE: European Union foreign ministers have gathered in Athens for the second day of an informal meeting where attention has focused on the crisis in Ukraine and the civil war in Syria.

Heavier sanctions on Russia could backfire

WASHINGTON (AP) — Underlying talk about taking harsh punitive measures against Russia for its military incursion into Ukraine are economic complications and worries that sanctions levied against Moscow could backfire on the U.S. and Europe.

Rouhani Seeks Economic Fix as Iran Commemorates Revolution

Iranian President Hassan Rouhani had foreign-policy successes to showcase when he spoke in Tehran’s Azadi Square today to mark the 35th anniversary of Iran’s Islamic revolution.