The Price Of Oil Is Not Where Russia Would Like It

Russian President Vladimir Putin has said the precipitous decline in oil prices is not a “tragedy” for the budget of his petro-state and its people. That same day on Friday, Moody’s downgraded Russia’s debt ratings to Baa2 with a negative outlook, citing, among other things, the ongoing erosion of Russia’s foreign exchange buffers due to low oil prices. Experts

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