With that combination of codes (2-3-1 and 2-2-1), I would check the air mass meter before going at the lambda sensors. They're probably doing their job and are less likely to go out.
Mine threw that combination a while back along with the exact symptoms as you describe. It's a common tale in these Bosch 700/900 cars
In my case, the bad AMM was sending erratic signals, causing the car to run rich, tripping the lambda codes.
For your reference, I have a 1994 940 Turbo
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A bottle of oil and some basic tools in the trunk. The highway is calling. Always remember the difference between durability and reliability. Embrace the old Volvo in your driveway. She's eager to please and, with a little TLC (and a few headaches), sh
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