Russian GDP declines 3% in April

Russian GDP fell an estimated 3.0% year-on-year in April after growing 1.3% in March, 4.1% in February and 5.6% in January, the Economic Development Ministry said in an economic review.

The economy grew an estimated 1.7% year-on-year in January-April.

The economy fell in April "amid unprecedented sanctions-related pressure" the ministry said. "The main factors behind the drop were transport and logistics constraints as well as a reduction of domestic demand," it said.