Tuesday, August 19, 2014

Struggling With Sanctions, Russia Faces Oil Price Crash

Oil prize crash in Russia
The price of Urals crude oil, Russia's key export and the lynchpin of its government finances, fell below $100 this week for the first time in more than a year, after plummeting $15 in under a month.
Russia relies on hydrocarbon exports for 50 percent of its budget. Already squeezed by Western sanctions over Ukraine and balanced on the edge of recession, a sudden collapse in oil revenue looks like bad news for the economy.

Rotterdam, 19/08/2014-INC News (via MT)

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