Russian Economy: The Pain is Spreading

The downturn isn't being felt by billionaire oligarchs alone. Companies and consumers also are starting to feel the pinch

The Russian financial crisis is an elusive thing. It's always there, somewhere, but you can't actually see it. Television news says the crisis is limited to the West, and the Russian economy is safe and sound. A recent report on one business channel – "Western markets closed in a huge slide, and the Russian market made a corresponding correction" – is typical.

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