The Russian economy is "significantly impaired" and placed in "deep recession" because of the sanctions of the West in response to the events in Ukraine, said the head of Barack Obama at a press conference on the results of the G7 summit in Germany.
"The Russian economy is severely weakened. The ruble and foreign investment are falling, inflation is increasing. The Russian Central Bank has lost more than $ 150 billion of reserves. Russian banks cut off from international markets, Russian companies suffer from a lack of technology that they need for the implementation of energy projects, the Russian defense companies cut off from key technologies, " said Obama, who broadcasts the White house.
"Russia is in a deep recession," concluded Obama.
before last year, Obama said that the Russian economy is " in poor condition ".
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