By Jonathan Davies

Russia has cuts interest rates to 15% after signs of inflation "stabilising".

The Russian central bank had raised interest rates to guard against inflation. The country's economy has been in disarray since the start of the Ukraine conflict.

US and EU sanctions, which were extended by the EU today (Friday), have strangled the Russian economy and falling oil prices have massively impacted on its main source of revenue.

Earlier this week, the Russian government said it would spend at least 2.34 trillion roubles ($35bn, £23bn) to prevent further economic crisis.

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