Ukraine's leading English-language newspaper since 1995

Katinka Barysch writes: Russia's economy — until recently one of the fastest growing in Europe — is in dire straits. In the first three months of this year, output fell by 10% compared with a year earlier. The World Bank now expects the economy to contract by around 8% for 2009 as a whole. Traditional industries such as steel are hurting badly. The decade-long consumer boom has turned into a slump as unemployment soars.

Europe and Russia's Continental Rift