Crude oil closed at $42.50 today, down a staggering $36 in two months. If it goes to $30, Putin will be strung up like Mussolini on a Moscow street corner. Oil is ALL the failed state of Russia has left, and they are losing BILLIONS per day.
I don’t know. Putin and his kleptocrat buddies, according to some a French documentary anyways, take about 40% of the annual Russian budget. If THAT hasn’t turned the people against him will falling oil prices?
While its still important, oil is no longer the be-all-end-all of the Russian economy. In particular, they have become an agricultural superpower, out-producing even the USA in grain. Manufacturing isnt doing badly either, right now.