Economists at Morgan Stanley are among the many who have cut Russian forecasts since the Ukraine crisis.
We see Russia close to recession in 1H14, as a result of the Ukranian security crisis driving higher rates and risk premia, leading to weaker consumption and contracting investment”
They also cut their 2015 forecast to 2.1% from 2.6%.
It all sounds a bit overdone to me but forecasting Russian growth is a tough job at the best of times.