Russian financial markets have hit an eight-month low as the prices of oil, the country's largest export, continued to plunge, lowering revenue from the lucrative sector.
The Kremlin had to revise its growth figures for the year downwards – from 3.7 per cent to 3.4 per cent.
And as the government's revenues dwindle, investors have started pulling their money out of Russia at an alarming rate.
Al Jazeera's Rory Challands reports from Moscow.
Source: Al Jazeera English