Sanctioned Russian billionaire says high interest rates have set 'trap' for economy

Russia's richest complained publicly that the central bank's high interest rates have created a "trap" that is choking investment.
Growth is slowing and firms are cutting investment — steel demand fell about 30% in three years, squeezing profits and cash flow.
Sanctions, asset seizures and higher taxes are straining elite unity over the Ukraine war; Putin acknowledged their alarm while the central bank defended its policy.