Russia's economy has entered a recession as gross domestic output fell by four percent in the third quarter, according to first estimates published Wednesday by the national statistics agency, Rosstat.The drop in GDP follows a similar four percent contraction in the second quarter, as Western sanctions pummel Russia's economy following Moscow's offensive in Ukraine.The Russian economy fared well in early 2022 with a 3.5 percent increase in GDP, but the start of the Ukraine offensive triggered a flurry of sanctions from the West.The IMF and the World Bank are respectively estimating a fall in Russian GDP of 3.4 percent and 4.5 percent.The central bank is not planning to change the rate until the end of the year, a sign of "adaptation" to a "new reality," said Bank of Russia governor Elvira Nabiullina."