Russian woes worsen as recession looms

Russians face gloomy holiday season with falling currency value and sanctions crippling their purchasing power.

    Russia's President Vladimir Putin is preparing to make his annual address to parliament but his speech comes at a critical time - with the economy threatened with recession, the currency losing value, and international sanctions biting hard.

    In Moscow, the holiday season is also getting under way but it is failing to give people much encouragement about the future.

    Al Jazeera's Peter Sharp reports from Moscow, Russia.

    SOURCE: Al Jazeera


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