The International Monetary Fund has said it expects the Russian economy to grow by 1.5% this year despite the US-led Western sanctions campaign against the country, which President Biden once vowed would “turn the ruble into rubble.”
The Russian economy shrank by 2.1% last year, but it has bounced back as Russia is adjusting to the sanctions. The Wall Street Journal on Wednesday called the economic war a “stalemate,” comparing it to the situation on the battlefield in Ukraine.