Soaring national debt in developed countries could trigger a new global financial crisis, economists warn The uncontrolled accumulation of debt by Western countries, along with social spending and rising climate-change costs, are increasing the risk of a new global financial crisis in developed economies, Reuters reported on Monday.

The escalation of the Israeli-Palestinian conflict has sparked fears over potential oil supply disruptions in the region Global oil prices saw a sharp increase on Wednesday amid fears that the conflict between Israel and the armed Palestinian group Hamas could spread to other countries in the Middle East, causing  global oil supply disruptions.

A reported $300 billion in Moscow’s forex reserves have been seized as part of Ukraine-related sanctions Moscow will respond with similar measures if Western countries use revenues generated from frozen Russian assets, Finance Minister Anton Siluanov warned on Tuesday in an interview with Asharq TV.