SAWT BEIRUT INTERNATIONAL

| 6 July 2022, Wednesday |

Sanctions against Russia undermine 15 years of economic gains

A report by the Institute of International Finance stated that Russia’s economy will shrink by 15% this year and 3% in 2023, as the damage caused by Western sanctions and the collapse of Russian exports will erase 15 years of economic gains.
Deputy Chief Economist Elena Rybakova said that if Europe ends its dependence on Russian energy exports, Russia’s economy will suffer more severe damage in the medium term.

    Source:
  • Sawt Beirut International