Russia has entered a recession, nine months after launching its offensive in Ukraine as Western sanctions weigh on the economy, according to official data published on Wednesday.

Saint Petersburg

Russia has been hit by global sanctions following President Vladimir Putin's decision to invade Ukraine.

Russian Sanctions

Russia enters recession as GDP falls by 4%

The economic hit is being felt more and more in Russian nine months after launching its offensive against Ukraine. And with Western sanctions Weighing on the economy Russia is now officially in a recession, having two consecutive holes in GDP. That was a drop of 4.1% in the second quarter and another slide in the third quarter of 4%. Vladimir Putin speaking to his team on Wednesday at Norwich, the problems Russians are facing. He said he wants to make it easier for people struggling to be able to declare themselves bankrupt. Ask you to pay special attention to senior citizens, and pensioners, because Banks easily and gladly lend small amounts of money. People have regular unstable incomes but then those citizens time to come see that has westerns. Actions are restricted exports and imports Russia. Now is even more dependent on oil and gas sales, which account for about 40% of government revenue. Mobilisation of 300,000 Russians to fight Putin's war in Ukraine, that is cool stuff problems for one and three companies. Despite those and other factors analysts say the Russian economy has remained unexpectedly. Resilient nausea due to the surge in global Energy prices caused by Putin's worth.

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Russian Sanctions