Vasily Astrov, expert on the Russian economy at the Vienna Institute for International Economic Studies, told Newsweek that "inflation has really subsided markedly over the past few months. The outcome of this policy has been a marked cooling of domestic demand, with the welcome side effect of rapid disinflation.

The European Union approved a new series of sanctions against Russia on Friday in response to its ongoing war in Ukraine. The measures include a lower oil price cap, a ban on transactions involving the Nord Stream gas pipelines,

The European Union and Britain on Friday sought to ramp up economic pressure on Russia to halt the war in Ukraine by slashing a price cap meant to choke off