Policies enacted by the US and EU have discredited Western banking and its currencies, according to the Russian president The West is discrediting its own currencies and banking system, while established monopolies in the global economy are crumbling, Russian President Vladimir Putin said in his annual address to the Federal Assembly on Thursday.

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The tightening of the sanctions policy at the beginning of 2022, as well as the subsequent exit of foreign brands, significantly affected the Russian economy including the advertising market. Many marketing agencies faced new realities (loss of customers, search for new promotion channels, etc.) and were forced to adjust to them at the earliest possible…