Battered by a combination of falling oil prices, the ruble devaluation and sanctions imposed following the Ukrainian conflict, Russia's economy contracted by 4.6 percent in the second quarter compared with a year earlier, according to the country's statistics office. After a decline of 2.2 percent in the previous quarter, this marks Russia's deepest recession since the 2008-2009 financial crisis.
CNBC: Russia’s economy is in a pit, according to economists
A picture taken on July 15, 2015 shows traditional Russian wooden nesting matryoshka dolls displayed at an exhibition in Moscow.
