The number of loans issued in Russia in the first quarter of this year fell by 58 percent compared to the same period in 2014, as the devaluation of the ruble, Western sanctions and sky-high interest rates hit the banking system, a report showed on May 5.
Russia's War Against Ukraine
The Moscow Times: Russian bank lending drops 60 percent as crisis paralyses system
A Russian ruble coin is pictured in front of St. Basil cathedral in central Moscow, on Nov. 20.
