Western sanctions send Russia into recession

The IMF head in Moscow Antonio Spilimbergo said Wednesday that international sanctions were damaging the Russian economy, which had shrunk in the first quarter of 2014, and was threatening investment. The fund, which cut Russia’s growth forecast for 2014 from 1.3 to 0.2 percent, said $100bn would leave the country this year due to the uncertain geopolitical situation.


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