World shares mixed, oil prices gain as EU, US mull sanctions

April 5, 2022
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World shares were mixed and oil prices rose Tuesday as Western governments considered more sanctions against Moscow in response to evidence Russian soldiers deliberately killed civilians.

Benchmarks rose in Frankfurt, Tokyo, and Sydney but fell in Paris and London. Many Asian markets including those in China were closed for holidays.

Russia’s withdrawal from areas near the Ukrainian capital, Kyiv, led to the discovery of corpses, prompting accusations of war crimes and demands for tougher sanctions on Moscow. Such moves add to uncertainty and could push up already high prices of oil and gas, among other commodities.

The invasion of Ukraine has elevated concerns about rising inflation and the impact on global economic growth. Prices for everything from food to clothing were already rising and the war has added to the volatility of energy prices since Europe depends on Russia for a large share of its oil and gas.