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In his first direct move against Russia since retaking office in January, US President Donald Trump imposed sweeping sanctions on Rosneft and Lukoil this week, two giants that account for nearly half of all Russian oil exports . On Saturday, Ukrainian President Volodymyr Zelenskyy called them “one of the most painful blows for Putin."

Russia can signal to the world all it wants that sanctions supposedly don’t affect its economy, but everyone can see the truth – gas station lines inside Russia, bankrupt regions, federal budget deficit. Sanctions remain one of the most painful blows for Putin. pic.twitter.com/n4gauh4s1d — Volodymyr Zelenskyy / Володимир Зеленський (@ZelenskyyUa) October 24, 2025

Yet Russia’s economic data paints a more complicated picture

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