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Oil prices, China help Russia survive sanctions

State debt at only 12.6 per cent of gross domestic product is fairly impressive considering recent history

Russian economy has recovered from the deep recession in 2015 and the US dollar and other currencies declined against a stronger rouble.

Mr Putin (above) has promised faster economic growth, innovation, and development of the digital economy.


RUSSIA has managed to overcome sanctions because of higher oil and gas prices and China's trade and investment.

In the past year, the Bank of Russia also bolstered the economy by slashing interest rates from 10 per cent to 7.25 per cent.

According to the central bank...

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