Thursday 18 December 2014

Putin Meets the Press – as State takes Tighter Grip of Economy


Vladimir Putin has delivered his annual press conference and at the top of the agenda was the Russian economy, reflecting that the turmoil buffeting the Russian rouble has reached critical levels.

After a steady depreciation over recent months, the rouble reached an all-time low on December 16. The country is on the verge of a recession as a result of falling oil prices and the impact of Western sanctions over the Ukraine crisis.