Automakers

Russia dodges worst recession fears as oil eases sanctions pain

Mercedes Production Russia
Most major foreign automakers, including Mercedes-Benz (pictured), have reduced or stopped production in Russia. (MERCEDES-BENZ)
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By:
Bloomberg
July 06, 2022 09:16 AM

Russia appears on track for a much shallower recession than many forecasters initially expected this year, boosted by rising oil production that has blunted the impact of US and European sanctions over its war in Ukraine.

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