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Bloomberg: Report warns of ‘deep and prolonged’ recession in Russia

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An internal report seen by Bloomberg prepared for the Russian government on the true economic impact of Russia's invasion presents a "far more dire picture" than the usual "upbeat public pronouncement." Two of the three scenarios see Russia's economy returning to its prewar level "at the end of a decade or later," Bloomberg reports. All three scenarios show that pressure from sanctions will intensify, and Russia’s ability to supply its own market may be affected by Europe reducing its dependence on Russian oil and gas.

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We are the news team of the Kyiv Independent. We are here to make sure our readers get quick, essential updates about the events in Ukraine. Feel free to contact us via email with feedback and news alerts.

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In the latest episode of Ukraine This Week, the Kyiv Independent’s Anna Belokur examines how Ukraine appears in recently released Jeffrey Epstein files. The files reference flight arrangements for models linked to Kyiv agencies, a failed real estate deal in Lviv, and brief mentions of Ukraine’s 2019 presidential election.

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