Russia's Economic Crossroads: Recession Looms Amidst Sanctions

Russia's economy faces the threat of a recession due to sanctions imposed over the conflict in Ukraine. Despite robust defense spending leading to short-term growth, long-term issues like inflation and reduced foreign investments present challenges. Future economic stability hinges on governmental actions and decisions.

Russia's economy teeters on the edge of recession, as highlighted by Economy Minister Maxim Reshetnikov at the St Petersburg International Economic Forum, according to reports.

Sanctions, following military actions in Ukraine, initially boosted growth through defense expenditure but brought inflation and investment woes.

The future of Russia's economy remains uncertain, dependent on adept governmental decision-making to avoid potential stagnation.

(With inputs from agencies.)