Russia’s Economic Facade Cracks as Oil Prices Plunge to $56

As global oil prices dip to $56 per barrel, Russia’s economy, heavily reliant on energy exports, faces mounting pressure. Recent data indicates a significant drop in oil and gas revenues, leading to a tripling of the federal budget deficit. The ruble’s volatility and rising inflation further exacerbate the situation, challenging the Kremlin’s narrative of economic stability.

In my latest Substack article, I delve into the nuances of Russia’s economic challenges amidst the current oil market dynamics. I analyze the implications of reduced energy revenues, the government’s fiscal responses, and the potential long-term effects on both domestic stability and international relations.

Also an interesting factor is that makeing this article i only used russian sources of information, so it really shows how the mask is crumbleing.