Publication

In light of the rapid decline of the ruble at the end of 2014, this paper examines some of the main factors causing problems for Russia's economy. These include 1) the economic sanctions imposed on Russia by the West, particularly those on transfers of oil drilling technology and long-term lending to leading Russian firms; 2) legal measures taken in Russia against the country's oligarchs; and 3) the decline in the global price of oil. The author also speculates on how the economic problems facing the country may adversely affect Russian President Vladimir Putin's hold on power.