NEWSLINK Moscow Times: Oil Crash Is Crushing Russia

The impact of oil prices on the Russian economy is well known. After crude fell 50 percent last fall, the Ministry of Economic Development forecast a 3 percent GDP contraction this year, along with 12 percent inflation. The crash in oil prices will not only test President Vladimir Putin’s domestic support. It will upend Russian foreign policy, challenging the modernization of the country’s armed forces while diminishing its influence in Asia and Europe. …

http://www.themoscowtimes.com/opinion/article/oil-crash-is-crushing-russia/517427.html