: :inin Kyiv (EET)

Cheap Oil Puts Russia’s Economy in Tailspin


Oh, to have been a fly on the wall in Vienna at the end of November, at the most recent OPEC meeting, when Russia’s Igor Sechin—the chief executive of Rosneft (Russia’s largest oil producer), former KGB apparatchik and all-around best crony of President Vladimir Putin—met with Saudi Arabia’s oil minister Ali al-Naimi. Neither, officially, is a minister of war. They were there to talk about oil. But oil, make no mistake, is a weapon for both nations, and one was about to use it.
At the time, benchmark crude oil prices stood at around $80 per barrel, well down from the …read more

Source: Newsweek

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