The West has responded to Russia’s invasion of Ukraine with round after round of punishing sanctions. The latest salvo is designed to spark a banking crisis, overwhelm Moscow’s financial defenses and tip the Russian economy into a deep recession. Never before has an economy with the global importance of Russia’s been targeted with sanctions at this level, according to analysts, who say there is now a high risk that Russia will face a financial crisis that pushes its largest banks to the brink of collapse. Western officials have described their campaign as an economic war meant to punish President Vladimir Putin and ... (full story)