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Falling oil prices are a drag on Russia. As a result of the fall in prices the country is still often forced to intervene to boost the economy. Today it was announced that currency interventions last week’s four billion dollars (3.2 billion euros) have transcended.
Revenues from oil along with gas responsible for almost half of the Russian economy are quite come through the steady decline in the oil price pressure to stand. Combined with the economic sanctions that Russia imposed the value of the ruble fell for the fifth week in a row. That’s the longest depreciation of the currency since the country in March operation in Ukraine.
The price of oil is under pressure for some time, by concerns about the global economy and geopolitical unrest. A barrel of American oil fell Monday around 9:20 pm 1.7 percent in value to $ 84.39. Brent oil was 1.9 percent lower at $ 88.51 a barrel.
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