IEA: Russian Oil Revenues Sharply Down Due to Sanctions

The Russian economy has entered a recession. According to the Russian statistics agency Rosstat, the country’s economy contracted by 4 percent in the third quarter.

 

The economic downturn follows a similar contraction of 4 percent in the second quarter.

 

The Russian economy is burdened by Western sanctions imposed after Russia invaded Ukraine.

By Mattoo Rani

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