Russia enters recession as GDP falls by 4% amid Ukraine battle: Report | World News

Russia's financial system has entered a recession as gross home output fell by 4 p.c within the third quarter, based on first estimates revealed Wednesday by the nationwide statistics company, Rosstat.

Additionally Learn | Poland, NATO say missile touchdown wasn't Russian assault

The drop follows an identical 4 p.c contraction within the second quarter, as Western sanctions pummel Russia's financial system following Moscow's offensive in Ukraine.