VLADIMIR PUTIN is no doubt feeling smug. The Russian economy ought to be in crisis, but it is not. Covid-19 is causing a global meltdown. The price of oil has slumped below $30 a barrel, half what it was two months ago. Oil and gas traditionally account for two-thirds of Russian exports. That has sent the rouble sliding. The currency has lost nearly a third of its value since early January.
Yet even as the world’s richest countries are in turmoil, taking on vast sums of debt to cushion the blow, Russia’s economy shows few signs of panic. This is not …read more
Source:: The Economist