The Russian economy is going backwards. It is like in 2018.

President Vladimir Putin’s invasion of Ukraine set the Russian economy back four years in the first full quarter after the attack, putting it on the road to one of the longest crises in history, even if less violent than initially announced – according to the analysis of the Bloomberg agency.

The Russian economy, which was gaining momentum in early 2022, began to contract in the second quarter. “In the following year, it will lose another 2 percent, because the European energy embargo will affect exports from Russia, “points out Alexander Isakov, a Russian economist, quoted by Bloomberg.

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