- Russia’s economy has deteriorated since Vladimir Putin ordered the invasion of Ukraine in February 2022.
- Its current-account balance has crashed, the ruble is weakening, and it’s status as an energy superpower has crumbled.
- At the same time, Russia’s domestic consumption and production are low.
Russia’s economy is a shadow of what it was 16 months ago.
Before Vladimir Putin ordered the invasion of Ukraine in February 2022 and prior to the onset of historic sanctions, Moscow commanded the world’s 11th largest economy and played a key role as a reliable, wide-reaching energy exporter.
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