Russia Admits Economy on Brink of Collapse Due to Sanctions, Despite Rosy Public Predictions
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Russia admitted its economy was on the brink of collapse due to sanctions after invading Ukraine last year.
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A Kremlin spokesperson said Russia had to mobilize all resources to prevent economic ruin from the sanctions.
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Sanctions included cutting off foreign reserves, banning banks, and capping oil prices - key revenue sources.
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Russia now claims sanctions have been overcome and predicts economic growth this year, despite expert projections.
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Russia's positive assessments contradict signs of trouble like near-collapse of auto industry, raging inflation, plunging currency.