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Russians Head Into Holiday Facing Economic Malaise

Russian preparations for the New Year holiday are clouded by economic recession and a tumbling currency, the ruble. Nonetheless, people in the Russian capital appear to be in a festive mood. Despite economic worries, Moscow's residents and visitors are flocking to Christmas fairs to enjoy seasonal and amusements. But a fiscal freeze is descending. Falling oil prices and Western sanctions have undermined the ruble, driving up prices for imported goods and pushing Russia toward a...

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