MOSCOW:Abundant oil and gas deposits have been a blessing for Russia, but they now feel like a curse as low prices propel the country into a deep economic crisis that shows no signs of abating, BSS/AFP.
The ruble fell to a record dollar low this past week as global crude prices slumped to 12-year lows, highlighting at once Russia’s vulnerability to changing oil prices and the fact President Vladimir Putin’s government has squandered opportunities to diversify the economy.
Although the ruble bounced back on Friday after a slight recovery of the oil market, the head of Russia’s central bank, Elvira Nabiullina, publicly …read more
Source: The Bangladesh Today
