Russia enters recession as GDP falls by 4% amid Ukraine war: Report

Gross domestic output fell by four percent in the third quarter, according to national statistics agency, Rosstat.

Russia's economy has entered a recession as gross domestic output fell by four percent in the third quarter, according to first estimates published Wednesday by the national statistics agency, Rosstat.

Russian President Vladimir Putin (AP)

The drop follows a similar four percent contraction in the second quarter, as Western sanctions pummel Russia's economy following Moscow's offensive in Ukraine.