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No economic ‘knockout’ yet from West’s sanctions on Russia

FILE - A man walks past a billboard with a portrait of a Russian soldier, a participant of the action in Ukraine and the words 'The victory will be ours!' and a tank mockup made from boxes, in St. Petersburg, Russia, Feb. 18, 2023. U.S. officals say Russia is now the most sanctioned country in the world. But as the war nears its one-year mark, it's clear the sanctions didn't pack the instantaneous punch that many had hoped. (AP Photo/Dmitri Lovetsky, File) FILE - Few visitors pass inside the GUM department store with lots of boutiques closed due to sanctions in Moscow, Russia, June 1, 2022. U.S. officials say Russia is now the most sanctioned country in the world. But as the war nears its one-year mark, it's clear the sanctions didn't pack the instantaneous punch that many had hoped. (AP Photo/Alexander Zemlianichenko, File) FILE - Girls walk past a stand with an image of a Russian serviceman and words 'The Motherland we defend' at a street exhibition of military photos in St. Petersburg, Russia, Feb. 9, 2023. U.S. officials say Russia is now the most sanctioned country in the world. But as the war nears its one-year mark, it's clear the sanctions didn't pack the instantaneous punch that many had hoped. (AP Photo/Dmitri Lovetsky, File) FILE - The super yacht Amadea sails into the San Diego Bay June 27, 2022, seen from Coronado, Calif. The $325 million superyacht was seized by the United States from a sanctioned Russian oligarch. U.S. officials say Russia is now the most sanctioned country in the world. But as the war nears its one-year mark, it's clear the sanctions didn't pack the instantaneous punch that many had hoped.(AP Photo/Gregory Bull, File) FILE - A virtually empty Red Square closed for security reasons prior to Russian President Vladimir Putin's annual state of the nation address, is seen between the Historical Museum, left, and the Kremlin Wall, right, in Moscow, Feb. 21, 2023. U.S. officials say Russia is now the most sanctioned country in the world. But as the war nears its one-year mark, it's clear the sanctions didn't pack the instantaneous punch that many had hoped. (AP Photo/Alexander Zemlianichenko, File) FILE - A logo of a newly opened Stars Coffee coffee shop in the former location of the Starbucks coffee shop in Moscow, Russia, Aug. 18, 2022. A new chain of coffee shops opens Thursday in Moscow, after Russian singer and entrepreneur Timur Yunusov, better known as Timati, together with Russian restaurateur Anton Pinskiy bought the Starbucks stores following company's withdrawal from Russia. U.S. officials say Russia is now the most sanctioned country in the world. But as the war nears its one-year mark, it's clear the sanctions didn't pack the instantaneous punch that many had hoped. (AP Photo/Dmitry Serebryakov, File)