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Russian economy shrinks 4.6% in Q2 compared to last year

Russia's economy contracted by 4.6 percent in the second quarter compared with a year earlier, the statistics office said on Monday citing preliminary data.

Read MoreEM currency crunch to last beyond Fed hike

Tourists explore Red Square in front of St. Basil's Cathedral in Moscow.
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Tourists explore Red Square in front of St. Basil's Cathedral in Moscow.

The decline deepened from 2.2 percent in the previous quarter amid lower oil prices and Western sanctions related to the Ukraine conflict.

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