According to Вloomberg, the Russian economy will continue to nosedive in 2016. Russia’s GDP, which decreased by 3,6 % in 2015, will continue its downward slide and sink by another 0,5%.

Bloomberg predicts that Russia will be among the four worst performing world economies after Greece, Brazil and Venezuela. Low oil prices, which account for 40 percent of the government's budget revenues, as well as sanctions from the U.S. and EU will take their toll on the country’s already struggling economy.