The COVID-19 pandemic has struck all sectors of Russia’s economy, but with borders closed during the high summer season, the tourism sector is one of the most damaged, especially in Saint Petersburg, a favorite stop for many foreign tourists
Russia’s economic forecast is not looking good, with the central bank last month lowering its growth projections – though officials maintain the country is not sliding into a recession. But in Russia’s far east, thousands of kilometers and several time zones away from Moscow, the effects of the economic downturn are obvious
Russia’s economy has stagnated for some years and suffers under sanctions imposed by the West after it annexed Crimea in 2014. Still, Moscow remains a vibrant city that attracts immigrants from around the world, most of them from the former Soviet republics of Central Asia
In the past four years, Russia’s $1.7 trillion economy has been in the world’s top 20. But in 2018, it has been plagued with problems stemming from under-investment, broadening state ownership of enterprise and Western sanctions over the 2014 annexation of Crimea.