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The economy of the world’s biggest energy exporter is heading for its deepest slump in more than 10 years due to the fallout from the coronavirus. A bigger crisis may be just around the corner.

Analysts at the Kremlin-funded Skolkovo Energy Centre warned this month that the nation faces years of economic stagnation as demand for its carbon-heavy exports gradually drops. If Russia doesn’t adapt, budget receipts will "decline drastically” and growth may be limited to less than 0.8 percent a year for the next two decades, less than a third of what the Economy Ministry is targeting.

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