Putin: Western Sanctions Will Provoke Global Crisis Bloomberg News Russia’s economic growth slowed in the first quarter, as the initial impact of sanctions imposed following President Vladimir Putin’s invasion of Ukraine began to show up. Gross domestic product rose 3.5% from a year ago, down from a gain of 4% in the previous three months, the Federal Statistics Service said Wednesday, citing preliminary numbers. That was less than the median forecast of economists polled by Bloomberg for an increase of 3.7%, which matched an estimate from the Economy Ministry. Mining, which includes oil and gas, helped drive the growth with an 8.5% increase, while manufacturing was up 5.1%. Farm output increased only 1.9%, while retail sales were up 3.5%. Most of the latest results were recorded before Putin sent troops into Ukraine on Feb. 24, triggering sweeping sanctions from the U.S. and its allies. Those restrictions, which hit major […]