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How the Russian economy is defying and withstanding western sanctions
The West seems to have under-estimated Russia’s ability to withstand sanctions and Russian acceptance and understanding of difficult economic times.
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Pedestrians walk past soldiers as they stand at the Red Square near the Saint Basil's Cathedral in Moscow, on Nov 18, 2022.
PHOTO: AFP
Alexander Hill
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Since Russia invaded Ukraine in February 2022,
As recently as early November, for example, The Wall Street Journal reported that “mobilisation, sanctions and falling energy prices” were hurting the Russian economy and that the economic outlook “bodes poorly for Vladimir Putin’s ability to fund Russia’s war in Ukraine”.
