Analysis-Putin’s economic challenges are numerous but surmountable as election looms

Russia's success in evading a Western oil price cap is helping drive a recovery in economic growth as President Vladimir Putin prepares to run for re-election, despite the problems caused by labour shortages, inflation and high interest rates. Russia's parliament has formally set next year's presidential election date for March 17. Putin, who on Thursday said the economy was set to grow 3.5% this year, is widely expected to run for a new six-year term.