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Russia Suffers Oil Crash Flashback as New China Threat Looms

  • Economic slowdown in China threatens Russia, officials warn
  • Putin pivoted to China as ties soured with West, oil plunged
Russian Oilfield Operated By Tatneft OAO
Photographer: Andrey Rudakov/Bloomberg
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As risks for recession-hit Russia subside at home, top officials are sounding alarms about another gathering threat.

President Vladimir Putin hosts leaders from across Southeast Asia this week, and policy makers are increasingly turning their focus to perils from China. Any “problems” in the second-biggest economy will feed through to Russia via commodities markets, according to Deputy Finance Minister Maxim Oreshkin. Warning that the world economy isn’t yet prepared for a more flexible yuan, Bank of Russia First Deputy Governor Ksenia Yudaeva said it warrants a global discussion.