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EU exports to Russia are dominated by machinery and Transport equipment, Chemicals, Medicines and agricultural products. This report will provide a detailed analysis of the sanctions and the impact they are supposed to have and the actual impact they will have on the Russian economy and the Economies of the European Union and the United States.

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Russia has an upper-middle income mixed and transition economy with state ownership in strategic areas of the economy. Market reforms in the 1990s privatized much of Russian industry and agriculture, with notable exceptions to this privatization occurring in the energy and defense-related sectors.

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