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Sanctions hit Russian economy, although Putin says otherwise

Russia Ukraine Stock Exchange
Posted at 11:58 AM, Apr 23, 2022
and last updated 2022-04-23 11:58:43-04

NEW YORK (AP) — Nearly two months into the Russian-Ukraine war, the Kremlin has taken extraordinary steps to blunt an economic counteroffensive from the West.

While Russia can claim some symbolic victories — most notably a recovery in the ruble — the full impact of Western sanctions is starting to be felt in very real ways.

Russia’s economy is facing the worst inflation in seven years, unemployment is growing, companies have shut down operations and the country is in danger of defaulting on its debt.

And economists say the full effects of the sanctions have yet to be seen.