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How long can Putin survive cheap oil? Maybe quite a while
Tuesday, February 23, 2016 10:55
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In assessing Russian President Vladimir Putin's ability to stay in power and defy the West, one crucial question is how much longer his government's finances can stand extremely low oil prices. Judging from an analysis by economists at Deutsche Bank, he might be able to hold out longer than previously thought.
Russia is peculiarly sensitive to energy prices, in part because taxes from oil and gas comprise about half the country's budget revenues. Hence, after oil prices started plunging in 2014, some economists worried — despite a rainy-day fund worth nearly $90 billion — that the government could run out of money and be forced into severe austerity by the end of this year …. http://www.bloombergview.com
Source: http://luismmx.blogspot.com/2016/02/how-long-can-putin-survive-cheap-oil.html
