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Russian society has been very slow to pick up on the signs of crisis approaching the country. Russians’ perceived wellbeing decoupled from their economic expectations about two years ago, after the annexation of Crimea in March 2014. A newly found great-power euphoria and the perception that crises go away quickly helped people to dismiss the possibility that the country is sliding into a protracted recession.
Russia is Waking Up to the Economic Reality, Not to the Political One
