Predicting a coming Russian revolution has been a favorite hobby of Russia watchers for years now. But since President Vladimir Putin’s annexation of Crimea in March 2014, the doomsaying has intensified, as plunging oil prices and Western economic sanctions wreak havoc on the Russian economy. Yet even though the ruble has lost over half its value, inflation has risen from 5 percent to 16 percent and Russians’ purchasing power has dropped to 1990s levels, Putin’s approval ratings have so far remained close to a near-miraculous 80 percent thanks to a heady mix of military adventures and a barrage of patriotic …read more
Source: Newsweek
