The decline in the Russian economy has resulted in an economic slowdown in the countries of the Central Asia, Eastern Europe, and the Caucasus, Suma Chakrabarti, President of the European Bank for Reconstruction and Development (EBRD) told reporters. Chakrabarti said that the Russian economy affected by the western sanctions and reduction in oil prices is critically important for the European region. He stressed that the stability of the economy is of much importance not only to Russia, but also to the neighboring countries from Central Asia, Eastern Europe and the Caucasus. Prime quotes Chakrabarti as saying that the EBRD is discussing with the Russian Government the situation in the Russian economy and its impact on other countries.