16:54 GMT02 December 2020
Listen Live
    Get short URL
    Western Sanctions Against Russia (737)

    Downturn in the Russian economy may change into growth in one and a half year, President of the European Bank for Reconstruction and Development (EBRD ) Suma Chakrabarti said Tuesday.

    LONDON (Sputnik) — The Russian economy suffered a setback in 2014, as the ruble lost about half of its value against the dollar amid low global oil prices and Western economic sanctions imposed against Russia over the Ukrainian crisis.

    "Now I'm hoping obviously from an economic point of view that recession in Russian economic will be end in next 18 months… It's been very very tough time in Russia and it affected on neighbor countries badly as well," Chakrabarti told reporters.

    The president stressed that the recession in the Russian economy negatively affected countries of Central Asia, Eastern Europe and the Caucasus, as its stability is crucial for the region.

    Chakrabarti added that the most recent EBRD experts' projections would be published later that week.

    Western Sanctions Against Russia (737)


    The 5 Most Popular Myths About the Soviet Union's Role in WWII, Busted
    Chess-Game Moves and Achilles' Heel: Four Years Since Putin's Inauguration
    Abe Says Wishes to Discuss Peace Treaty, Economy, Int'l Issues With Putin
    'We Did Russians Great Injustice': Moscow is not Turkey's Enemy, Daesh is
    Lifting Anti-Russian Sanctions: Which Side Will France Choose?
    Russian economy, Ukrainian crisis
    Community standardsDiscussion