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WEKU
WEKU
World
Ashish Valentine

Are sanctions actually hurting Russia's economy? Here's what you need to know

A placard featuring an image of Russian President Vladimir Putin and reading "We are with him for the sovereignty of Russia! And you?" is seen left in front of the Russian State Duma building in central Moscow on Feb. 24. (Kirill Kudryavtsev/AFP via Getty Images)

Just over four months ago, the U.S. and several allied nations levied unprecedented sanctions against Russia in response to its invasion of Ukraine.

For weeks afterwards, the Russian ruble's value tanked, foreign multinational companies pulled out of the country, and economic prospects began looking grim.

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