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Russia Heads Toward Recession, With No Relief In Sight

Russia's economy has taken a series of heavy hits in the past few months, and now it seems to be in the midst of a perfect storm.

The country depends heavily on oil exports, and prices are down sharply. The Russian currency is losing value fast. And U.S. and European sanctions, imposed after Russia's takeover of Crimea, are biting hard.

President Vladimir Putin remains defiant, saying sanctions will never bring Russia to its knees.

But the pain is real.


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