Russia's economy contracted in the first three months of 2014 compared with the preceding quarter as capital investment shrank, Economy MinisterAlexei Ulyukayev said April 16. The Ukrainian crisis hit Russia's economy and markets, sending the ruble to all-time lows, which prompted investors to postpone investment projects and instead park funds in foreign currencies, which spurred capital flight.
Wall Street Journal: Russian economy hit by Ukraine crisis
Russia's Finance Minister Anton Siluanov (L) and Economic Development Minister, Alexei Ulyukayev, attend a meeting in the Kremlin in Moscow, on December 25, 2013.
