Russia’s economy was 0.6% smaller in the second quarter of 2016 than the same period last year. The economy shrank by 1.2% in the first quarter, following a 3.7% plunge in 2015. Russia has been hit by a double whammy of low oil prices and economic sanctions, and has not grown for six consecutive quarters. President Vladimir Putin slashed spending across his government to deal with the crisis, and cut his own salary by 10% in 2015, and millions of Russians have fallen into poverty. Russia holds parliamentary elections next month and the country’s leaders are trying to reassure voters.”]
Source: https://money.cnn.com/2016/08/11/news/economy/russia-economy-recession-six-quarters/