Russia Faces Economy Trap as Oil Decline Looms, EBRD Says
This article is for subscribers only.
Russia, the world’s largest energy exporter, is becoming increasingly dependent on commodities and failing to prepare for falling oil output in 20 years, the European Bank for Reconstruction & Development said.
Corruption, poor education, immigration barriers and state dominance in the economy, which curbs private innovation, all hinder diversification, which is Russia’s key challenge, the London-based EBRD said in a report published today.