Oil windfall can't shield Russia from weakening economy, IMF chief says

IMF Managing Director Kristalina Georgieva says Russia's economy is weakening despite a windfall from higher oil prices, with IMF projections showing around 1% growth for 2026—below prewar potential—while inflation remains high and buffers are depleted. She points to three main drags: demographic decline, sanctions that bite tech upgrades, and a damaged global standing that undermines long-term prospects.