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Russia's Economy Crushed by U.S. Tariffs and Low Oil Prices

4/15/2025

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Summary

Story summary

U.S. tariffs, especially during President Trump's administration, are squeezing Russia's oil-reliant economy. Central Bank Governor Elvira Nabiullina warns that falling oil prices jeopardize export income, while the G7's price cap on Russian crude compounds the issue. Additionally, Russia's gas exports have plummeted, with European imports dwindling dramatically since 2022.

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Story summary

U.S. tariffs, especially during President Trump's administration, are squeezing Russia's oil-reliant economy. Central Bank Governor Elvira Nabiullina warns that falling oil prices jeopardize export income, while the G7's price cap on Russian crude compounds the issue. Additionally, Russia's gas exports have plummeted, with European imports dwindling dramatically since 2022.