By Jonathan Davies

The value of the Russian rouble is recovering, despite warnings that the country is entering a "full blown economic crisis".

Former finance minister Alexei Kudrin said: "We are entering or have already entered a full-blown economic crisis, and we're going to feel it to the full next year."

His warnings came as the Russian central bank lent Trust Bank 30bn roubles (£339m) to stop it going bankrupt. It is the first government bailout since the rouble crashed.

After hitting all-time lows of 80 roubles per $1 last week, it is still volatile but trading between 53 and 55 roubles per $1.

The rouble has lost more than 45% of its value against the US dollar since the start of the year as a result of falling oil prices and Western economic sanctions.

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