Russia is the worlds second-largest oil exporter, with oil and gas accounting for 70% of its exports and half of government revenues. Oil prices have fallen by more than a third since the summer, while the rouble is down nearly 40% against the dollar since January. The economy has also been hit by western sanctions imposed on Russia in retaliation for its annexation of Crimea, and support for separatists in parts of eastern Ukraine.
Posted on: Tue, 02 Dec 2014 02:47:36 +0000
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