Putin's Plan to Fight Recession in Russia also Increases Kremlin's Control of the Economy

By Richard Connolly

The Russian rouble started 2015 in much the same way it finished 2014: badly. After losing nearly 50% of its dollar value between July and the end of the year, the rouble lost a further 7% in January. The primary cause of this continued decline is the falling price of oil: Brent crude has dropped from US$53 dollars per barrel at year end to just under US$48 per barrel, a decline of nearly 10% for the year so far.