Russia Is Preparing For A “Catastrophic” Oil Price Collapse

– Russia Is Preparing For A “Catastrophic” Oil Price Collapse (ZeroHedge, Nov 14,  2014):

Vladimir Putin told the state-run TASS news agency that Russia’s economy faces a potential “catastrophic” slump in oil prices, saying, as Bloomberg reports, such a scenario is “entirely possible, and we admit it.” However, Putin reassures that with reserves at more than $400 billion, the country will weather such a turn of events because “we handle our gold and currency reserves and government reserves sparingly.”

Leave a Comment