Consequences of the weakening Russian economy will also be felt by Bosnia and Herzegovina

Foreign direct investments (FDI) from Russia account for 2% to 5% of GDP in Lithuania, Latvia, Ukraine, Serbia, and Bosnia and Herzegovina, and the consequences of slower Russian economic growth in the coming period could be felt by Belarus, Moldova, Ukraine, and the Baltic countries, according to a report published on the International Monetary Fund blog, as reported by baltictimes.com and carried by the Bosnian news agency Patria.

- For most European countries, Russia is not a major export market, but for immediate neighbors whose exports to Russia exceed 5% of their GDP, slower economic growth can be significant – the report stated.

Many Eastern European countries, including Lithuania, rely heavily on Russia for total energy supplies, not just natural gas.

The report ranks Lithuania as the second country after Belarus in terms of the overall risk it will face from the weakening of the Russian economy and sanctions by Western countries.

The Russian Ministry of Economic Development forecasts GDP growth of 0.5% in 2014, while the IMF says growth will be only 0.2%. Last year, Russia's GDP stood at 1.3%.