The International Monetary Fund says Russia is now in recession.
The IMF cut the country's 2014 growth forecast from 1.3 percent to 0.2 percent.
It said a loss of confidence caused by sanctions imposed on Russia by the US and the European Union because of its involvement in the ongoing Ukraine crisis is largely to blame.
Al Jazeera's Nadim Baba reports from Moscow.
Source: Al Jazeera