Russia’s Key Economic Sectors Shrug Off Sanctions
- Russia’s third quarter growth hits 5.5%, outpacing estimates
- Recovery shows limits of sanctions to punish Moscow over war
State-owned Sberbank is poised to reap a record ruble profit this year.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
Key sectors of Russia’s economy are adapting and in some cases completely rebounding from unprecedented international sanctions imposed over the war in Ukraine.
Russia’s economic growth and surging consumer demand, boosted by ample government spending, have allowed businesses as diverse as banks, car manufacturers and airlines to find ways to cope and, in some cases thrive, despite US and European restrictions aimed at tanking the economy in retaliation for the war.