Russian Economy Reports Record Losses as Western Sanctions Show Full Impact

Russia's economy is experiencing its worst decline since Western sanctions began following its invasion of Ukraine, with the state budget reporting record losses as massive oil revenues have evaporated. The sanctions are now demonstrating their crushing effect in full force, with ordinary Russians losing real income and well-known retail chains disappearing from streets across the country. The economic collapse represents a historic downturn that is currently shaking the entire Russian Federation, marking a significant escalation in the financial pressure from international restrictions imposed over the war in Ukraine.