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Itâs clear that Russia is now suffering from ill winds. The country largely avoided the punishment that most of Europe has endured since the 2008 crash and austerity is an unknown concept to the youth. If the rouble doesnât recover soon and if sanctions are made permanent there will be even more serious costs for the Russian people.
The US and EU have imposed an array of sanctions on Russian individuals and businesses in response to the annexation of Crimea and the crisis in eastern Ukraine. The deaths of 298 people on board a Malaysia Airlines plane destroyed over eastern Ukraine on 17 July triggered tougher EU sanctions.