Depending on who you listen to, the Russian economy is looking surprisingly rosy – or is about to drop off a cliff. Yale University business experts have declared that Russia’s economy is heading for oblivion 🔎 Analysis by michael2day
, which continued to buy Russian oil, soon demanded big price cuts from Moscow, in what was buyers’ market.
, in order to reduce Moscow’s revenues, but not to the extent it halts exports and causes another supply crisis.But Sergey Aleksashenko, former Russian finance minister and member of board of Free Russia Foundation, disagrees. Ben Cahill, a senior fellow in the CSIS Energy Security Programme, agreed. “The price impact has been pretty considerable”, he says, with Russian earnings down by $30 a barrel due to increased distance and insurance costs of transporting oil to Asia .
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