Russia’s Manufacturing Activity Shrinks as Sanctions Over Ukraine Bite

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imageRussia’s factories cut production and jobs in March after the U.S.and its allies adopted some of the most severe economic sanctions ever taken against a country following Moscow’s invasion of Ukraine , a new survey showed on Friday.

The survey of purchasing managers at Russian manufacturing companies conducted by data firm S&P Global also recorded sharp rises in prices and a big decline in new orders.Western sanctions have effectively severed Russia from international finance and barred it from importing key technologies.

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