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US Politics

US Politics

Russia's economy faces 'near stagnation' with sanctions whittling down annual GDP growth, European economist says

Business Insider India
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Anders Åslund says sanctions could be knocking off as much as 3% of Russia 's GDP each year .

Russia 's oil and gas revenue dropped by nearly a quarter in 2023 , he says.

The nation has had difficulty borrowing from other countries after it was shut out of SWIFT , the global financial communications system.