Putin growth ambitions have fallen by the wayside in the face of U.S. sanctions.
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President Vladimir Putin is finding out the hard way that Russia can't accelerate economic growth and build barricades to limit the fallout from future U.S. sanctions at the same time.The economy expanded just 1.3 percent in the third quarter from a year ago after gaining 1.9 percent in the previous three months, the Federal Statistics Service said, citing preliminary estimates. Economists polled by Bloomberg had estimated growth of 1.4 percent. The conservative approach has been criticized for unnecessarily hampering growth.Central bank Governor Elvira Nabiullina told reporters in Moscow last week that her task is not to allow the "serious external pressures" Russia is living with to curb growth.
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