Under unprecedented sanctions, how is the Russian economy faring?
Better than you might think
IN RESPONSE TO Russia’s invasion of Ukraine, the West launched an economic war. America banned the sale of a wide range of goods to Russia; big companies pulled out by the dozen; and a number of countries together froze 60% of the central bank’s international reserves. The idea was to send Russia’s economy into free fall, punishing President Vladimir Putin for his aggression. In the week after the invasion the rouble fell by more than a third against the dollar, and the share prices of many Russian companies collapsed.
This article appeared in the Finance & economics section of the print edition under the headline “Wounded bear”
Finance & economics April 2nd 2022
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