The push for tax collection comes as Russia's growth has slowed to a near standstill nearly four years after its full-scale invasion of Ukraine.

Tight monetary policy is making this downturn virtually unavoidable, FIS stressed. Read also: Kremlin falls short of expectations as Russia’s oil and gas revenues plunge Should current trends persist,

Kremlin leader Vladimir Putin will be forced to enter peace negotiations due to the further exhaustion of the Russian economy. — Ukrinform.

Russia’s ruble has outpaced every major currency against the dollar this year, a rally that caught policymakers off guard and threatens to undermine the nation’s wartime economy.

Nearly four years of war in Ukraine have devastated the Russian civilian economy. This year, 75 percent of Russia’s regions report serious budget deficits and more enterprises are becoming unprofitable.

The Russian economy is rapidly moving toward a recession, a trend acknowledged by analytical bodies close to the Kremlin. — Ukrinform.

Vladimir Putin is facing a major revolt from Russia's big business elites, who have seen sales plunge to their lowest level since the 1998 financial crisis. A lethal combination of tightening sanctions, rising interest rates and a sharp economic slowdown have pushed Russian industry to the brink of catastrophe.

Russia’s wage growth has slowed despite the country experiencing its tightest labour market, in a further sign the wartime economy is cooling. In November, salaries for new Russian hires rose just 6.9 per cent year-on-year, according to Financial Times analysis, a sharp slowdown from January’s 18.9 per cent.

The Russian economy has been dealing with growing headwinds this year: unruly inflation, a ballooning budget deficit and shrinking energy revenues. But analysts say the Kremlin could weather the storm for many more years.

The Center for Macroeconomic Analysis and Short-Term Forecasting, a state-backed Russian think tank, said this month the country could face a banking crisis by next October if loan troubles worsen and depositors pull out their funds, according to the Post.

The Russian-labeled candy bars are a reminder of how difficult it is to completely disconnect a major economy from the global flow of goods.

In January, only a small group of buyers is expected to continue importing Russian crude. These include Nayara Energy and state-owned refiners such as Indian Oil Corp and Bharat Petroleum Corp. Nayara, which has Russian links, is likely to remain the largest buyer.