Russia beating Western sanction, but its long-term prospects for the economy looks grim as war prolongs ...Middle East

Washington: Russia’s near two-year war with Ukraine will cripple its economy in the long run despite its claims that it had found new ways to beat Western sanctions earning almost $15.2 billion in revenues through clandestine shipping of oil and minerals mainly to India and China. Russian President Vladimir Putin, facing election in March this year amid domestic pressure to pull down prices and withdraw the army from Ukraine, has however taken to gloating about Russia’s resistance to international sanctions and its supposed economic resilience, despite the best efforts of the US and its G7 partners to choke off Moscow’s oil revenues and starve it of military technology, media reports said.

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