Russia’s economy is isolated from the global rout
For now
VLADIMIR PUTIN is no doubt feeling smug. The Russian economy ought to be in crisis, but it is not. Covid-19 is causing a global meltdown. The price of oil has slumped below $30 a barrel, half what it was two months ago. Oil and gas traditionally account for two-thirds of Russian exports. That has sent the rouble sliding. The currency has lost nearly a third of its value since early January.
This article appeared in the Europe section of the print edition under the headline “Isolationomics”
Europe March 28th 2020
From the March 28th 2020 edition
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