Asian stocks fall after West vows more Russia sanctions

By JOE McDONALD
AP Business Writer

BEIJING (AP) — Asian stock markets have fallen after Western governments promised new sanctions on Russia. Shanghai, Tokyo, Hong Kong and Sydney declined. Oil prices were little-changed but stayed above $110 per barrel. Wall Street’s benchmark S&P 500 index rose 1.4% after the number of Americans applying for unemployment fell to a 52-year low. Western leaders meeting promised more sanctions but gave no details. President Vladimir Putin tried to prop up Moscow’s sinking ruble by threatening to require Europe to use it to pay for gas exports. That would increase demand for the Russian currency and support its exchange rate. European leaders on Thursday rejected the possibility, potentially setting up a clash over energy supplies.