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Reuters
Reuters
Business
David Lawder and Andrea Shalal

Russia faces lasting consequences from Ukraine war, World Bank chief says

Russia World Bank Ukraine David Malpass Vladimir Putin
A view shows a building, which city officials and locals said was damaged by recent shelling, as Russia's invasion of Ukraine continues, in Kharkiv, Ukraine March 4, 2022. REUTERS/Oleksandr Lapshyn

Russia's war in Ukraine has "horrified" the World Bank's shareholders and will have lasting consequences for Russian President Vladimir Putin and Russia's standing on the global stage, the global lender's president said on Friday.

World Bank President David Malpass told Fox Business Network that China's reaction to the war and the Western sanctions imposed on Moscow would be influential in determining how Russia's future trade relationships develop.

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