Russia Weighs Cutting 2026 GDP Forecast After Oil Price Slump

Russia’s government is weighing a substantial downgrade to its growth forecast for this year as tougher sanctions over the war in Ukraine hit oil revenue.

The Economy Ministry in April may lower its estimate for Russia’s gross domestic product growth to about 0.7% to 1%, according to two people familiar with the plans. The ministry regards the current prediction of 1.3% expansion for 2026 as unrealistic, they said, asking not to be identified because the information isn’t public.