Oil prices, geopolitics, Russia, US, EU. Falling oil prices are - TopicsExpress

Oil prices, geopolitics, Russia, US, EU. Falling oil prices are inflicting deeper economic pain on Russias economy, which is already reeling from EU and U.S. sanctions. Russia is currently considering its budget for 2015-2017, and based on the numbers, the Kremlin is planning for leaner times. With oil revenue accounting for around half of the countrys budget, any dip in prices has a ripple effect. And in recent years, Russias economy has become more dependent on oil to meet its budget commitments. Excluding oil revenue, Russia has run a budget deficit that hit 10.3 percent in 2013, the highest level in three years. In other words, the government needs oil revenues to plug budget holes, and that need is growing erambiente.net/oilpricerealtime.html

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