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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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The Kyiv Independent news desk

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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Hungarian Prime Minister Viktor Orban called upon the EU to take action against Ukraine's conscription practices in an interview with Origo published on July 15, amid an ongoing dispute with Kyiv over the death of a Ukrainian conscript of Hungarian ethnicity.

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