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Putin Says Russia Doing Fine in Face of Tumbling Crude Prices

President Vladimir Putin said Russia will cope with the rout in crude oil after benchmark prices plunged to a four-year low near $70 a barrel.

“We are satisfied overall with the situation and do not see anything so extraordinary in what is happening,” he said today in Sochi, Russia. “Winter is coming and I am sure that the market will come into balance again in the first quarter or toward the middle of next year.”