Russian President Vladimir Putin vowed on Thursday (18/12/2014) to fix Russia’s economic woes within two years, pledging to diversify the gas-dependent economy and persuade businesses to help prop up the collapsing ruble.
Putin acknowledged that Western economic sanctions over Russia’s course on Ukraine was just one factor behind the Russian economic crisis, saying a key reason was the nation’s failure to ease its overwhelming dependence on oil and gas exports. He estimated that sanctions accounted roughly for 25 to 30 percent of the ruble’s troubles.
As Putin spoke, the Russian currency was trading around 62 rubles a dollar, slightly lower than last …read more
Source: Herald LIVE
