Russia Finds Echoes of 1980s Oil Collapse as Slump PersistsBy
Russia reacting to oil collapse by redeeming external debt
Drop in budget revenue forcing fiscal adjustments for 2016
Russia is facing an “unprecedented” squeeze from a selloff in oil, which is similar to the 1980s collapse in world crude prices that undermined the Soviet Union, according to Deputy Finance Minister Maxim Oreshkin.
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