Economics
Trump’s Sanctions Reboot Ushers In a ‘New Normal’ for Russia
Russia Warns of Worsening U.S. Ties
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As Russia hunkers down for “decades” of U.S. sanctions, the chill in geopolitics is threatening to turn into a deep freeze for an economy retooling after the crash in oil prices.
By reluctantly codifying the penalties into law, U.S. President Donald Trump is ensuring that Russia’s future may look much like its past as a petrostate. It also marks a shift to a “new normal” that’s all the scarier for being impossible to undo any time soon, according to Vladimir Miklashevsky, a senior economist at Danske Bank A/S.