Russia Feeling The Pinch of Cheaper Oil, Sanctions

Posted by Jan Charbel ⋅ August 11, 2015 ⋅ Leave a comment

Filed Under $ERUS, $RSX, Crimea, Crimea Annexation, Economy, EM, Emerging Markets, Energy, Falling Oil Prices, IMF, International Monetary Fund, investing, Oil, Oil prices, Recession, Ruble, Russia, Russian ruble, Sanctions, Ukraine

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Russia is now likely in recession with GDP growth expected to decline 3.4 percent this year, says the IMF in its annual economic assessment. Mission Chief Ernesto Ramirez Rigo, explains how Russia’s economic woes are largely due to the dramatic drop in oil prices, and sanctions in response to developments in Crimea and Ukraine.

Ernesto Ramirez Rigo: IMF Mission Chief for Russia

Courtesy of IMF