Editorial Board

Putin Should Worry About Oil, Not 'Blackmail'

Vladimir Putin is complaining loudly about economic sanctions, but Russia's problem is the volatile price of oil and its effects on an energy-dependent economy.
Vladimir Putin has far more important things to handle.

This week, as falling oil prices have hammered the Russian economy, President Vladimir Putin has warned repeatedly that his country, a nuclear superpower, must not be "blackmailed." He was talking about economic sanctions, but there is a different lesson he should be drawing right now and it has nothing to do with the U.S. or the European Union.

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