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Japanese carmaker Nissan will sell all its Russian assets to state-owned research and development firm NAMI, the trade ministry has said. The deal, worth a symbolic sum of €1, was approved by the Japanese corporation and includes a plant in St. Petersburg and sales and marketing facilities in Moscow.

The economy will contract by 35% this year, while inflation will skyrocket, the report says Consumer prices in Ukraine may surge by more than 20% this year, according to an IMF forecast released on Tuesday. The fund also expects a significant slowdown in the country’s economy.