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Low prices will hurt the Russian economy, but they are far from being Russia’s only problem
The World Bank last month released its growth projections for Russia in 2015 and 2016, offering a glimpse into a potentially bleak future for the country. The report included three separate projections for the Russian economy for the next two years based off the average price of a barrel of oil over the same period of time. In 2012, Russia’s energy sector accounted for approximately two-thirds of the country’s exports, around 30% of GDP and almost half ...

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