: :inin Kyiv (EET)

Russian govt proposes spending cuts in view of crisis


Russia’s economy has been battered by lower energy prices, a collapse in the value of the ruble and Western sanctions over its involvement in Ukraine.

Speaking at the upper house of the Russian parliament, Finance Minister Anton Siluanov said that the government does not expect oil prices to go back to $100 a barrel so “we and our economy will have to adapt to new conditions.” …read more

Source: San Francisco Chronicle

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