Russia’s economy contracted 4.6 percent in the second quarter, year-on-year, after a 2.2 percent contraction in the first quarter, but in June the pace of contraction slowed. Russia’s second quarter balance of payment remained stable despite a weaker trade balance as the current account...

Second quarter gross domestic product (GDP) estimates and high-frequency indicators suggest continued weakness in the economy even before the latest round of economic sanctions introduced by the European Union (EU), the United States (U.S.), and other countries in late July. The World Bank...