Bleak assessments of the Russian economy clash with Putin’s rosy claims.

Russia’s central bank chief warned on Monday that the consequences of Western sanctions were only beginning to be felt, and Moscow’s mayor warned that 200,000 jobs were at risk in the Russian capital alone, stark acknowledgments that undermined President Vladimir Putin’s contention that sanctions had failed to destabilize the Russian economy.

The diverging assessments showed how the impact of the West’s sanctions in response to Russia’s invasion of Ukraine — and their ability to weaken Mr. Putin’s grip on power — remains uncertain nearly two months after Russia’s invasion of Ukraine began.

While experts say Russia faces an economic time bomb as its inventory of imported goods and parts runs low, Mr. Putin is using the fact that the Russian economy has not yet collapsed to bolster his contention that sanctions will not deter him. Read more

@nytimes