Sanctions new normal proves workable for business in Russia

When executives from hundreds of Russian and foreign companies came together in St Petersburg a year ago for the International Economic Forum, most participants were in a state of shock. The US and Europe had just slapped visa bans and asset freezes on a number of Russian officials and companies over Moscow’s annexation of Crimea, and threatened much broader sanctions. One question dominated every conversation: How bad were things going to get?

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