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Russia’s Economy Defies Sanctions with 4.1% Growth, Fueled by BRICS Support
Russia’s Economy Defies Sanctions with 4.1% Growth, Fueled by BRICS Support
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Russia’s economy grew by 4.1% in 2023, defying U.S. sanctions and Western expectations. The resilience underscores Moscow’s strategic pivot to BRICS nations for trade and financial support. Secretary of the Russian Security Council Sergey Shoigu projects growth could reach 4.3% in 2024, signaling continued momentum despite geopolitical headwinds.
The data challenges the efficacy of Western sanctions and highlights shifting global economic alliances. As monetary blocs realign, Russia’s performance may prompt reassessments of sanction strategies and accelerate de-dollarization trends.
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