Russian entrepreneurs say Putin's economic trap

Several Russian billionaires subject to sanctions have reported that the monetary policies implemented by the financial authorities, particularly raising interest rates to 14.5%, have led to a decline in demand for products such as steel, which has fallen by 30%. This has caused a slowdown in Russia's expected economic growth, estimated to reach 0.4% this year, compared to 4.9% in 2024, amid public criticism of the tightening monetary policy, which is believed to be pushing the economy into a recession.

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