Sanctions Will Knock Russian Economy Back 30 Years

“Vladimir Putin’s unprovoked war on Ukraine and the resulting global response will set Russia’s economy back by at least 30 years — close to old Soviet Union times — and lower its standard of living for at least the next five years, according to economists, investors and diplomats,” CNBC reports.

“Practically overnight, the country’s 40-year effort to build a prosperous market-based economy that began under former leader Mikhail Gorbachev has failed, one more casualty in President Putin’s brutal invasion of Ukraine.”