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World Bank: Crimean Standoff Could Shrink Russian Economy

The World Bank has concluded that Russia's already weak economy could markedly shrink this year if Moscow's standoff with the West over its annexation of Crimea intensifies. In a new report Wednesday, the World Bank said the Russian economy could contract 1.8 percent in 2014 and investors could pull a record $150 billion out of the country. The Washington-based international lender said a "lingering confidence problem" over Russia's economy is now "a crisis...

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