Source:Wikimedia Commons There are some signs Russia's economy is doing a bit better than expected, all things considered. Russia's food production rose by 3.5% versus a year earlier, which reduces the need to import more expensive [due to the collapse of the ruble relative to other currencies] food. However, Western sanctions and low oil prices have taken a major toll on Russia's economy, which is why analysts see its GDP contracting this year. Russia's retail sales fell by 6.7% and inflation-adjusted incomes were down 1.4% versus last year. Bloomerg's current consensus forecast is calling for a 4.05% drop in Russia's GDP this year, but in light of a few positive events going on in the country right now [such as the low ruble allowing the government to purchase domestically produced goods in Euros or Dollars for a cheaper price, or the increase in food production], Standard & Poor's guidance is calling for just a 2.6% contraction this year. It really comes down to where oil prices go, especially considering most natural gas prices are Brent-linked, but Russia, led by President Vladimir Putin, doesn't seem willing to "give up the fight" over Crimea and Ukraine just yet. Bloomberg article link here