Business & Economy

Global Recession Inevitable This Year: Putin's Envoy Dmitriev

Global recession is inevitable this year, Russian Direct Investment Fund (RDIF) head and Russian special presidential envoy for investment and economic cooperation with foreign countries Kirill Dmitriev said.
Sputnik
"Global recession is already inevitable this year, with energy-importing countries being hit the hardest," Dmitriev said on X.
He said this will become "clear to many" by June.
On February 28, the United States and Israel launched strikes on targets in Iran, including in Tehran, causing damage and civilian casualties. Iran responded by striking Israeli territory and US military facilities in the Middle East, including in Bahrain, Qatar, the United Arab Emirates, and Saudi Arabia.
The escalation around Iran has led to the de facto blockade of the Strait of Hormuz, a key route for deliveries of oil and liquefied natural gas from the Persian Gulf countries to the global market, driving up energy prices.
Europe Needs Russia to Survive: Putin's Envoy Dmitriev
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