On Monday, April 28, the United States introduced sanctions against seven individual Russians and 17 Russian companies, White House Press Secretary Jay Carney said.

Russia may face a technical recession in the second and third quarters, admits a government official.

VKontakte founder Pavel Durov left Russia because “the country is incompatible with Internet business at the moment.” Durov plans to “start building a mobile social network this year”.

Borrowing costs have surged for Russian companies amid the ongoing crisis in Ukraine, one of many consequences of the Kremlin’s move to incorporate Crimea.

The Russian stock exchange has grown on the news of the positive outcome of the Geneva talks on the Ukraine crisis. According to the RBC Daily, MICEX was up 2.19 percent, reaching 1,358.84 points, RTS climbed 2.64 percent to 1,203.53 points.

The Chairman of VTB Group, Russia’s second-biggest lender, has accused the UK regulator of mounting increasing pressure on its London unit.

Crimean authorities consider cutting the period of double currencies due to the default risks in Ukraine, said the region’s vice-premier Rustam Temirgaliev.

The US is eyeing action against Russia’s gas giant Gazprom in case it falls through with the plans to buy Crimea’s natural gas company. To thwart the potential deal, the US has imposed sanctions against the Crimea-based Chernomorneftegaz.

The Russian government wants big companies to move to the Far East in a move to develop the remote region.

Gennady Timchenko, a former Gunvor co-owner and alleged close friend of the Russian president, has confessed he had moved his funds back into Russia ahead of the sanctions.