Russia’s war economy slows as sanctions enter 5th year Related news
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MOSCOW Russia is grappling with massive state defense spending while facing deepening structural problems, including severe labor shortages and high inflation, as its war in Ukraine enters its fifth year. Russia has managed to keep its economy afloat since launching its invasion of Ukraine on Feb. 24, 2022, despite facing unprecedented Western sanctions. Moscow’s pivot to a war economy drove record production in heavy industries such as steel, machinery and chemicals, while defense spending is
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