Pinching rubles: A bleak prognosis for the Russian economy

Russia is in the midst of a lost year, with stark economic stagnation and the lowest growth rate since a crippling recession in 2009, according to a new analysis released by the World Bank. With low oil prices persisting since mid-2014, Russia’s oil revenues have plummeted and capital flight has become a growing problem as exporters find a lack of demand for their products abroad. If Russia is slapped with further sanctions over its role in the Ukraine conflict, the world’s largest country could find itself struggling for years to come.

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