The Fuse

Live From Moscow: Low Oil Prices are Bankrupting Russia

by Leslie Hayward | August 24, 2015

With some 25 percent of Russia’s economy supported by oil and gas revenues, the fall in energy prices has had dismal impacts on the country’s economic outlook. For every $1 drop in oil prices, Russia’s economy is estimated to lose $1 billion in revenue, meaning the country has lost an estimated $50 billion in budget revenue over the past year.

topics: Moscow, Oil and Gas, Ruble, Russia, Russia Sanctions, Russia's Economy