Russian Economies Slows 0.8%

The Russian economy has been affected by the Ukrainian crisis, resulting in a slowing of 0.8% in the second quarter compared to the same period in 2013, according to figures released today by the statistics office Rosstat. The Russian government had said in early July that it expected growth of 1.2% in the second quarter, after the 0.9% recorded in the first months of the year. Earlier this month, the European Union tightened sanctions imposed on Russia due to the Ukrainian crisis.