Russia faces recession as oil crash and sanctions cost economy £90bn
The Russian economy could plunge into a fresh recession, Anton Siluanov, the country’s finance minister, has warned.
"We are losing around $40bn [£26bn] per year due to geopolitical sanctions and we are losing some $90bn [£58bn] to $100bn [£64bn] per year due to oil prices falling 30 pc," Mr Siluanov said in a speech in Moscow, reported by RIA Novosti news agency. Read more : http://www.telegraph.co.uk/finance/oilprices/11250037/Russia-faces-recession-as-oil-crash-and-sanctions-cost-economy-90bn.html
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