In 2023 sanctions continue to hurt Russia’s economy. Many businesses have had to adjust to using inferior-quality components or paying higher prices for traditional inputs.
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Russia’s brutal war on Ukraine is bringing unimaginable destruction to the lives of Ukrainians as well as to Ukraine’s economy. Ukraine urgently needs our assistance, in many forms. At the same time, however, we need to understand how the war affects the Russian economy.
China has become one of Russia’s main trading partners over the past ten years, leading to a significant diversification of Russia’s oil and gas export markets.
Several reforms improving banking and financial market regulation as well as supervision have been put through since summer 2013.