World Bank says Russia may suffer more from sanctions than it thought:
The World Bank predicts Russia's economy will shrink more than previously forecast in the next two years as the effects of low oil prices and Western sanctions over Moscow's interference in Ukraine take hold.
In a report released on April 1, the World Bank predicted that Russia's gross domestic product (GDP) would decline by 3.8 percent in 2015 rather than the 2.9 percent forecast in January.
It predicted GDP would continue to decline next year, but only by about 0.3 percent. In January, it had forecast GDP growth of 0.1 percent in 2016.
The report said that "the oil price slump and stricter sanctions came late in 2014, so that their impact only began to affect the economy in the final quarter of 2014."
It added that "the effects are likely to be more profound this year and in 2016."
The World Bank forecast inflation in Russia at about 10 percent and capital flight amounting to some $80 billion.
It said capital flight came to $151 billion in 2014. (The Wall Street Journal, Reuters, and Interfax)
Ukraine's SBU says it has arrested Odesa bombers:
The Ukrainian Security Service (SBU) has detained three people suspected of involvement in a series of explosions in the southeastern city of Odesa.
SBU spokeswoman Olena Hitlyanska told reporters in Kyiv on April 1 that the three -- who reportedly identified themselves as communist activists -- had confessed to commiting "at least nine acts of terrorism in Odesa" between December and March.
Hitlyanska said a shotgun, chemicals, mobile phone parts, and timers similar to ones used to detonate handmade explosive devices in Odesa, were found on the suspects.
A series of bomb blasts have hit Odesa and another eastern Ukrainian city, Kharkiv, in recent months.
Ukrainian authorities blamed those blasts -- many of which seemed to target organizations with ties to soldiers fighting in eastern Ukraine -- on Russia and the rebels who hold parts of the eastern provinces on Donetsk and Luhansk.
Both cities are under the Ukrainian government's control but are seen as prizes coveted by the Russian-backed rebels. (UNIAN, Interfax)
Ukraine's top communist called in for questioning:
Ukrainian Communist Party leader Petro Symonenko has been summoned by the Ukrainian Security Service (SBU) for questioning over a recent trip to Russia.
SBU spokeswoman Olena Hitlyanska said on April 1 that Symonenko will be questioned about the visit in which he reportedly took part in a Russian Communist Party meeting.
She said the SBU was also investigating comments Symonenko made on Russian television that could be seen as calling for crimes to be commited "against the foundations of Ukraine's national security."
Hitlyanska added: "There is every reason to open a criminal case and to investigate facts that may provide evidence of complicity of the [Communist Party's] top leadership in illegal activities."
The SBU expects Symonenko to appear for questioning on April 2.
Symonenko appeared on Ukrainian television channel 112 on April 1 and said he was in Ukraine but knew nothing about being summoned by the SBU.
He said he not done anything illegal while in Russia. (UNIAN, Interfax)