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Putin Grasps at Straws as Economic Cures Fail to Impress

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Russian President Vladimir Putin’s recipe for riding out an economic storm has a whiff of panic, say analysts from Moscow to London.

The measures, announced yesterday in a 70-minute Kremlin speech to lawmakers and top officials, ranged from a proposed tax and legal amnesty for those repatriating capital to a four-year moratorium on tax increases. That’s too little, too late, say analysts at banks including VTB Capital and Danske Bank.