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Recession in the Russian economy will continue, the Bank of Russia said on Wednesday, February 3. "Industrial production statistics for December 2015 shows that production decline continues on the whole across main kinds of economic activity. This evidences concerns that the decline in the Russian economy will last longer than assumed earlier. The primary reason is the decline in oil prices in the coming months," the regulator said.

Turkey has banned Russian observation flight over its territory that was to be held within the framework of the Open Skies Treaty. The Russian Defense Ministry claims that Turkey has violated an international treaty by barring a planned Russian surveillance flight.

Russian President Vladimir Putin had a meeting with former US State Secretary Henry Kissinger on February 3. According to Kremlin spokesman Dmitrii Peskov they have long-lasting relations and always keep in touch.

Russian President Vladimir Putin had a working meeting with Prime Minister Dmitry Medvedev on February 2. It is said that the discussion focussed on ways of optimising the structure of federal executive bodies of power.

US Secretary of Defense Ash Carter on Tuesday previewed a 2017 budget that he said better positions the Pentagon to counter a rising China, Russia's assertiveness and fight Islamic State militants in Iraq and Syria

The World Health Organisation has recently declared that the Zika virus outbreak is a Public Health Emergency of International Concern (PHEIC), due to the undoubted link of the Zika virus to a wave in serious birth defects in South America. Experts now are anxious about devastating consequences of Zika virus, which can spread too far and fast.

Russian President Vladimir Putin met with Patriarch of Moscow and All Russia Kirill to congratulate him on the anniversary of his enthronement as head of the Russian Orthodox Church on February 1.

Russian President Vladimir Putin held a meeting on credit and monetary policy on January 29. Putin reminded: «We are set next week to discuss privatisation and our plans in this area, including for this year. There is a view that some financial institutions should also be part of this privatisation process. The Central Bank is the main shareholder, the key shareholder, in our country’s biggest bank – Sberbank».