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Punishing sanctions imposed by the United States and its allies on Moscow for invading Ukraine are pushing Russia into recession and starting to turn it back into a closed economy, a senior U.S. Treasury official said Friday.

The official, speaking on condition of anonymity, told reporters that the Treasury sees Russia as struggling with steep inflation, diminished exports and shortages despite a recovery of its ruble against the dollar. The official dismissed the rebound as driven by stringent capital controls and foreign exchange curbs, not market forces.

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