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The poorest and most vulnerable will be hit hardest,вЂќ Bjerde said, noting that Russia and Ukraine combined supply over 25 percent of world wheat exports. вЂњThe war is causing severe damage to the economies of Ukraine and the rest of emerging and developing Europe and Central Asia, but the impacts are reverberating far beyond the region to every corner of the globe. Meanwhile, more than 10 million Ukrainians, or nearly a quarter of the population, are believed to have left their homes to escape the fighting, including more than 4 million who have sought shelter in other countries. It has also bombed airports and rail lines while many bridges have been blown up, compounding the long-term damage being inflicted on UkraineвЂ™s economy. Russia has destroyed Mariupol, a key Ukrainian port on the Sea of Azov, and severely damaged other major cities, including Kharkiv, the second-largest by population. The World Bank forecasts that RussiaвЂ™s economy will contract by 11 percent this year due to the crushing sanctions.

Since then, it has been hit with waves of sanctions from the West, crippling its economy and isolating it from most of the world, both diplomatically and economically. Russia launched its war against Ukraine on February 24. 'The Russian invasion is delivering a massive blow to UkraineвЂ™s economy and it has inflicted enormous damage to infrastructure,вЂќ said Anna Bjerde, World Bank vice president for the Europe and Central Asia region. Based on reporting by Reuters, AFP, and APД«orrellвЂ™s warning adds to concerns raised by a World Bank report released on April 10 that said economic output in Ukraine is expected to contract by 45 percent, with the final extent of the country's economic decline ultimately depending on the 'duration and intensity of the war.' officials said.Д«ritain will pass laws to prevent the Russian state and Russian entities from raising money in London and will ban the export of 'dual-use' equipment that can have military applications.ДЄs well as banning Aeroflot, Britain added Kirill Shamalov, PutinвЂ™s former son-in-law Promsvyazbank CEO Pyotr Fradkov Denis Bortnikov Yuri Slyusar and Yelena Georgieva to its sanctions list.ДЄ British diplomatic source told the AFP news agency that they are people who have 'international lifestyles.' They shop at Harrods department store in London, stay in LondonвЂ™s best hotels, and send their children to private schools in Britain.Д«ritainвЂ™s move to sanction Russia over its invasion of Ukraine came on the same day the United States and the European Union imposed additional harsh sanctions on Moscow. The assets blockage affects more than 100 Russian entities including state-owned VTB, one of Russia's largest banks, and Rostec, a military conglomerate, U.K. He said Putin was always determined to attack Ukraine no matter what Western countries did, adding that the Russian president 'will stand condemned in the eyes of the world and of history.'

For all of RFE/RL's coverage of the war, click here. RFE/RL's Live Briefinggives you all of the major developments on Russia's invasion, how Kyiv is fighting back, the plight of civilians, and Western reaction.

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