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Sanctions Could Shrink Russian Economy by 15% This Year

HeadlineJun 09, 2022

A banking trade group warns U.S.- and European-led sanctions are set to shrink Russia’s economy by up to 15% this year. The Institute of International Finance said Wednesday the sanctions “are unraveling [Russia’s] economy, wiping out more than a decade of economic growth, and some of the most meaningful consequences have yet to be felt.”

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