After embarking on an oil price war that shook global markets, Russia has been boasting that it can cope with oil as low as $25 a barrel for the next decade. Economists aren’t so sure.
Russia has spent the past five years tightening its budget and building up more than $550 billion in reserves -- leaving it in a stronger position than oil-market rival Saudi Arabia. Realistically, though, the Kremlin could begin feeling the pain if the crude price war lasts much more than a year, according to analysts.
