Oil & Gas Prediction 2015 #2 - Russia’s "Great Recession"

Tim Haïdar


A continued sub $100 per barrel oil price, combined with sanctions meted out by Western powers over the Ukraine crisis will mean that the Russia Federation slides into a deep recession in 2015. Russia derives some 40 per cent of its revenue from hydrocarbon activities and 2014 already saw the former superpower’s economy contract to the level of a mid-size European player like Spain.