MOSCOW: (AP) – With its economy spiraling toward recession following Western sanctions and a dramatic fall in the price of oil, Russia took another step Tuesday to shore up the value of the ruble, which has been one of the worlds worst-performing currencies this year.Russias energy-dependent economy has suffered a severe economic shock over the past few months, largely because oil prices have tanked the benchmark New York rate has fallen by around a half since June to stand at not much more than USD 55 a barrel.Because the Russian economy remains hugely reliant on energy revenues, that spells trouble. …read more
Source: Dunya TV
