Alexei Kudrin

As oil falls, Russia choked by military, social spending

Russian authorities are facing some unpalatable options as they try to keep the economy afloat - unless they can persuade President Vladimir Putin to curb massive military spending.

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Russia needs government investment to avoid recession, says former finance minister

Russia risks slipping into recession because the government is not investing enough in the economy to weather Western sanctions, former finance minister Alexei Kudrin said on Tuesday, criticizing the strategy so far.

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