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Commodities Briefing - Categorized | Oil, Resources more

How long can Russia’s oil and gas wealth last?

Posted on 06 May 2014

Russia is in the midst of its longest streak of declines in oil and gas production in years, its economy is in shambles and its leverage on the international stage is in question. Its energy-dominated economy may not sustain Russia’s ambitions in Eastern Europe for much longer.
The Russian economy may not be able to finance the Kremlin’s ambitions in Eastern Europe for much longer because the country’s oil and gas output is no longer a strong support of growth. Russian Energy Minister Alexander Novak said on May 2 that gas supplies through Ukraine might be severed unless Kiev pays in advance for its June deliveries………………………………………..Full Article: Source


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