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Sanctions And Low Oil Prices Deepen Russian Recession
OilPrice.com ^ | 26 January 2016 | Andy Tully

Posted on 01/28/2016 2:16:36 PM PST by familyop

The Russian economy's heavy reliance on energy, plus Western sanctions imposed because of Moscow's role in the Ukraine conflict, have left the country in its worst financial position since the depths of the global financial crisis eight years ago...About half of Russia's annual budget relies on revenues from its prodigious production of oil and gas,...

(Excerpt) Read more at oilprice.com ...


TOPICS: Business/Economy
KEYWORDS: economy; markets; oil; price
Older relevant news:

Putin Plays Down Russia's Deadly Dependence on Oil & Gas Revenues
OilPrice.com
By Al Fin
30 October 2012

Russia's federal budget is reliant on commodities revenues - according to official data, commodities contribute around 60 percent of the federal budget; in reality, that number is closer to 75--80 percent as much of the service sector depends on money from oil and gas. _Russia's Oil Luck or Curse

So, Putin claims a 50% dependency. Official data puts the number closer to 60%. And "in reality," the number may be as high as 80%. Or perhaps even more.


1 posted on 01/28/2016 2:16:36 PM PST by familyop
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To: familyop

With the decline in petro prices Russian GDP will probably be less than Texas and California both in 2016. Which is why Putin annexed Crimea, has his sights set on Georgia and is sharing a bed with Syria and Iran in the Middle East.


2 posted on 01/28/2016 2:20:35 PM PST by jwalsh07
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To: jwalsh07

Remember, most of these big time foreign leaders are months ahead of what we read and see in the news.They are not surprised by events. They make ‘em happen.


3 posted on 01/28/2016 2:24:03 PM PST by Don Corleone ("Oil the gun..eat the cannoli. Take it to the Mattress.")
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Free Republic Caucus 16 01/28
four days to Iowa

Vote
4 posted on 01/28/2016 2:24:30 PM PST by DoughtyOne (Free Republic Caucus: vote daily / watch for the thread / Starts 01/20 midnight to midnight EST)
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To: familyop
Poor Pooty Poot. LOL!
5 posted on 01/28/2016 2:28:01 PM PST by Toddsterpatriot ("Telling the government to lower trade barriers to zero...is government interference" central_va)
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To: familyop; SaveFerris; metmom
I sometimes wonder if this economic box of darkness that Russian now faces will somehow drive it towards an act of desperation.

Perhaps....a surprise attack on Israel?

http://beforeitsnews.com/self-sufficiency/2015/11/russia-is-preparing-to-attack-israel-as-the-antichrist-and-armageddon-draw-near-2497402.html

Enormous Oil Deposit Discovered In Israel As Russia Slowly Advances

6 posted on 01/28/2016 2:37:22 PM PST by SkyPilot ("I am the way and the truth and the life. No one comes to the Father except through me." John 14:6)
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good karma will follow your donation to free republic

oops

7 posted on 01/28/2016 2:47:48 PM PST by DoughtyOne (Free Republic Caucus: vote daily / watch for the thread / Starts 01/20 midnight to midnight EST)
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To: SkyPilot

I wonder what we’re going to see this year. I guess hang on tight.


8 posted on 01/28/2016 2:59:13 PM PST by SaveFerris (Be a blessing to a stranger today for some have entertained angels unaware)
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To: SkyPilot

If the Prophets refer to descendants of early tribes everywhere they’ve migrated to and not to simple, fixed geography involving the places of the early tribes in Turkey? Perhaps, and likely.

If that happens, no one can stop the end of days or the wonderful world to come. The nations will do as commanded and drawn by G-d. His plan is for all of the best. It won’t fit the Greco-Roman fantasy concept of perfection, but it is perfect according to the real physics and universe(s) created by Him and according to His unchanging will.


9 posted on 01/28/2016 3:01:51 PM PST by familyop ("Welcome to Costco. I love you." --Costco greeter in "Idiocracy")
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To: SkyPilot

Isaiah 43:11

Zechariah 14:9

Unchanging:

Malachi 3:6

Isaiah 56:3


10 posted on 01/28/2016 3:10:47 PM PST by familyop ("Welcome to Costco. I love you." --Costco greeter in "Idiocracy")
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To: familyop
I love that one verse from Zechariah 14:9. It is so encouraging. Thanks for posting.

"The LORD will be king over the whole earth. On that day there will be one LORD, and his name the only name."

11 posted on 01/28/2016 5:31:29 PM PST by SkyPilot ("I am the way and the truth and the life. No one comes to the Father except through me." John 14:6)
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