File picture shows Russia's then Prime Minister Putin speaking to then Economy Minister Nabiullina in Moscow. RUSSIA-CBANK/ REUTERS/Sergei Karpukhin/Files
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Russian central bank chief Elvira Nabiullina said Thursday it was too early to say the crisis is over in Russia after the economy was hit by Western sanctions and falling oil prices.The Ukrainian crisis has led to unprecedented Western sanctions on the Russian economy and last year's collapse in oil prices plunged Russia into a monetary crisis at the end of 2014 that has now become a deep recession.Russia is expected to lose between $150 and $170 billion in export revenues per year compared with its usual level, she added.Russia's economy contracted by 1.9 percent in the first quarter of the year, the first time this has happened since 2009 .
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