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On Tuesday, 16 of Dec. 2014, Russian ruble depreciated to the level of 77 rubles per US dollar. Russian economy will end 2014 below $2 trillion. If ruble/dollar exchange rate is not changed in 2015, Russian economy will fall below 1 trillion US$.

Related Insights from Knoema

US Sanctions Against Russia

Russia's recovery from economic recession could be complicated by sanctions announced recently by US President Donald Trump, with still greater potential of painful restrictions on investors and Russian companies seeking to raise capital in Western markets. This year, the US Treasury initiated new sanctions against Russian persons and entities for activities including the alleged poisoning in the UK of former FSB Officer Skripal and his daughter as well as Moscow's alleged meddling in the 2016 US presidential election.The sanctions announced in April targeted seven Russian oligarchs...

Russia Population | Data and Charts, 1900-2013

146,544.7 thousand people currently live in Russia as of January 1, 2016 according to Russian Federal State Statistics Service estimate. United Nations Department of Economic and Social Affairs gives another estimate - 143,456.9 thousand persons. The difference of about 3 million persons is because data from Russian national statistical service include population of the Crimea since 2015, while international agencies like UN or World Bank does not consider the Crimea as a part of Russia. As of January 1, 2015 population of the Crimea was estimated at 2,294.9 thousand persons. With...

FSU Countries: Military Strength Magnifies Value of NATO

The Global Firepower database published earlier this year provides an interesting perspective on the relative military strength of the former-Soviet Union (FSU) member states bordering Russia as compared to Russia. The contrast is so sharp that any of the FSU countries would almost certainly be unable to defend themselves from Russian military advancement without the direct involvement of NATO or other allied forces.  The Baltic States, Georgia, and Ukraine combined spend fifteen times less on defense than does Russia. While military expenditures offer only a simplistic...

Russian Government Ratifies Economic Sanctions Against Turkey

The Russian Government recently prohibited the import of 17 food items, including apples, grapes, oranges, poultry, tomatoes and other fruit and vegetables, from Turkey and banned charter flights between the two countries in response to Turkey shooting down a Russian SU-24 on 24 November. Today's Viz of the Day illustrates the current merchandise trade flows between Turkey and the Russian Federation and provides insight into possible losses to each economy as a result of the Russian embargo.Source: United Nations