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Even as a flurry of oligarchs had their superyachts unceremoniously seized last year, the Russian economy seemed to defy the impact of Western sanctions.

Pollution in Russia's industrial regions fell 1.2% in the six-month span to April, and is 6.2% lower year over year.

Sanctions and trade boycotts have forced Moscow to reorient away from the West, and data shows the economy has weakened dramatically since 2022.

Economists are cautious on official data out of the Kremlin, and that ambiguity makes forecasting what comes next complicated.

The European Central Bank (ECB) is the central bank of the 19 European Union countries which have adopted the euro. Our main task is to maintain price stability in the euro area and so preserve the purchasing power of the single currency.