Posted 11/9/2023, 1:22:00 PM
Russia Boasts Sanctions Resilience But Economy Still Reeling From Ukraine War
- Russia claims it is no longer afraid of Western sanctions, but its economy is still feeling pressure
- Some economic indicators, like GDP growth, are better than expected amid the war in Ukraine
- However, Russian exports have plunged and the ruble has cratered against the dollar
- Oil and gas revenues, a key driver of Russia's economy, have fallen sharply due to embargoes
- Russia is also facing severe worker shortages with so many citizens fighting in or fleeing the war