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Keyword: russiafarming

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  • Russia abandons hope of oil price recovery and turns to the plough

    10/14/2015 11:49:31 AM PDT · by Lorianne · 15 replies
    Telegraph (UK) ^ | 13 October 2015 | Ambrose Evans-Pritchard
    The Kremlin has launched an incredible volte-face in economic policy and turned to traditional industries like farming in the face of tumbling oil prices ___ Russia has abandoned hopes for a lasting recovery in oil prices, bracing for a new era of abundant crude as US shale production transforms the global energy market. The Kremlin has launched a radical shift in strategy, rationing funds for the once-sacrosanct oil and gas industry and relying instead on a revival of manufacturing and farming, driven by a much more competitive rouble. "We have to have prudent forecasts. Our budget is based very conservative...