OPEC Decision to Cause Oil Shock for Russia
The OPEC refusal to decrease oil production and a subsequent price fall to a 4-year low make the future of Russian economy tenuous. Since July 2014, the Russian ruble depreciated to the U.S. dollar by 45%, and the economic growth stalled. Falling oil prices together with western sanctions induce Russian experts to seek alternative sources to fill the budget....
29.11.2014