This is partly due to Western sanctions after the invasion of Ukraine and the decision of many, mainly European and American, companies to stop doing business in the country. As a result, an economic downturn was already expected. In the first quarter, the Russian economy grew by 3.5 percent, despite the war in Ukraine started on February 24.
As more and more European sanctions came into effect, the economic contraction is also increasing every month. In May there was a decline of 4.3 percent and in June the size of the Russian economy declined by 4.9 percent.
