The 3rd quarter of 2022 saw a 4% year-over-year decline in Russia’s GDP as the effects of the nation’s military interventions in Ukraine persisted.
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when Western sanctions on Russia’s banks and broader economy caused GDP to decline by 4.1% year over year.
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On February 24, Russia sent tens of thousands of soldiers to Ukraine as part of what Moscow describes as a “special military operation
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The first quarter of 2018 saw the Russian economy expand 3.5% annually, before the full impact of sanctions see.
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Russia’s economy ministry projects a 2.9% decline in GDP this year.
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