This Week In The Economy: Update On Russia Sanctions, Countries Tap Oil Stockpiles, Strong February US Jobs Report, Fed Rate Hike Coming In March

Welcome to a regular snapshot-review of U.S. and international economic news that aims to 1) provide a window into the challenges and decisions facing businesses today, 2) determine the direction of economic policy — such as the speed at which central banks decide to raise interest rates, and 3) assess what the impact will be for consumers.

More Sanctions On Russian Banks and Oligarchs

This week we are going to lead off with the ongoing war in Eastern Europe, as Russia’s brutal invasion of Ukraine drags on.

As missiles continue to bombard Ukrainian cities — indiscriminately hitting civilian and military targets — and the Russian army surrounds the capital Kyiv, the West is ramping up the punitive economic and financial measures against Putin and his cronies.

This week the White House announced that, in coordination with its allies, it is imposing additional sanctions on…