Russia Sees Smaller Economic Hit From Sanctions as War Escalates

A billboard promoting contract army service with an image of a serviceman and the slogan reading "Serving Russia is a real job" in Saint Petersburg, Russia, on Sept. 20.

Photographer: Olga Maltseva/AFP/Getty Images

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Russia improved its outlook for the economy for this year and next, rolling out fresh forecasts on the same day that a major escalation in President Vladimir Putin’s invasion of Ukraine probably made many of them obsolete.

Read more: Putin Mobilizes More Troops, Wields Ukraine Nuclear Threat