The Russian Central Bank has cut its key interest rate by 100 basis points to 11.5 percent.
Despite the potential for more international sanctions on Russia, some investors and market analysts argue there is value to be found in the country.
Russia has the highest concentration of debt issuers at risk of downgrade of any emerging market country, according to Standard and Poor's.
Pope Francis has urged President Vladimir Putin to make a "sincere and great effort" to achieve peace with Ukraine.
Simon Fentham-Fletcher, CIO of Freedom Asset Management Limited, tells CNBC that there is significant investment opportunities in Russia.
The G7 has no desire to include Putin in this week's annual summit despite his crucial role in the group's agenda, Canada's Prime Minister told CNBC.
World leaders have wrapped up a G-7 summit in Germany, with a stronger stance on climate change, among a wide range of issues. CNBC's Carolin Roth reports.
Canadian Prime Minister, Stephen Harper, tells CNBC that Russia's economy is dominated by oligarchs and criminal syndicates, who don't share western interests.
President Barack Obama answers questions on sanctions for Russia at the 41st G7 summit. Ultimately, this is an issue for Russian President Vladimir Putin, says Obama.
Russia's relations with it global counterparts have sunk to new lows as Moscow appears to have refused an olive branch from Germany.
Founder and managing director of JBC Asia, Johannes Benigni, explains why Russia is not a viable candidate for OPEC.
Finland has informed its 900,000 military reservists of their roles in the event of a military crisis against a backdrop of rising tensions.
Things could be about to get even tougher for Russians with rampant inflation meaning that more than half of their annual incomes could be spent on food.
Russian President Vladimir Putin has outlined his plans for a new Eurasian union, as he slammed Western powers over sanctions.
Russian president Vladimir Putin calls CNBC's Geoff Cutmore "scary", adding that he has created a "businesslike" atmosphere for the panel discussion.
Alcoa is experiencing the biggest transformation in the metals industry 'in 125 years' the chief executive tells CNBC.
Russian president Vladimir Putin says the country will not ban social media websites like Facebook and Twitter in Russia.
Russian president Vladimir Putin, says that despite the country's recent tensions with international bodies, he hopes "peaceful negotiations" will continue in all diplomatic processes.
The governor of Russia's central bank has declared the country's economy doesn't need further "special measures" in spite of signs of slowdown.
Russia's Vladimir Yakunins dismissed U.S. sanctions as inappropriate - but conceded they had impacted business.