European stocks rebound as markets pause, oil prices cool down

LONDON (Reuters) – European stock markets rose on Wednesday as investors paused after three days of selling, while oil prices edged back down from their latest peak.

Russia accused the United States of declaring an economic war, after U.S. President Joe Biden announced a ban on Russian oil exports on Tuesday.

Western sanctions have cut Russia off from global trade and financial markets in response to its invasion of Ukraine.

But after three days of losses, the MSCI world equity index, which tracks shares in 50 countries, was up 0.7% on the day at 1224 GMT.