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To: cunning_fish
Last time I’ve check Russian economy wasn’t that much about oil as advertised. They have a share of extraction about on par with US in total economy and manufacturing makes larger share in Russian economy than it makes for US.

You might update your info:
The Russian government requires an oil price of above $125 in order to achieve fiscal breakeven. That means that the Russian government is being forced to either postpone spending, or dip into cash reserves, as long as oil prices stay well below that level.
http://oilprice.com/Energy/Oil-Prices/What-Would-Falling-Oil-Prices-do-to-Russias-Geopolitical-Ambitions.html

22 posted on 07/15/2013 6:59:20 AM PDT by AdmSmith (GCTGATATGTCTATGATTACTCAT)
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To: AdmSmith

I think it will be enough for them to cut some social programs to be solvent again.


25 posted on 07/15/2013 7:32:55 AM PDT by cunning_fish
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