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‘Running Out Of Spare Parts’: Plenty Of Pain Ahead For Russia’s Economy

At first glance, Russia may seem to be adapting to the tough new sanctions imposed by Western countries over its unprovoked invasion of Ukraine.

The ruble, which tumbled in the first days of the war to a record low, rebounded to its highest level since early 2020 this week. Grocery stores in Moscow are still filled with food, albeit at much higher prices, and revenue from the sale of oil and gas continues to flow into the budget.

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