Even Sputnik says that Russia is falling

Even Sputnik says that Russia is falling, the local currency is depreciating sharply Russia Sputnik’s Russian propaganda medium is forced to admit that the Russian Ruble is in great decline. On Monday the Russian ruble against the euro and the US dollar traded at 83 euros and 75 dollars. The sharp drop in the value of the ruble came after the failure of the OPEC deal, which was followed by a 30 percent drop in oil prices. Brent crude has fallen to $ 31 a barrel, the lowest price since 2016. If we analyze the ruble exchange rate and the price of oil, we see that the ruble depends on the price of oil, so the ruble depreciates when the price of oil falls. This shows that the Russian economy is fragile and dependent on oil prices, as oil and gas account for over 60 percent of Russian exports. If all that translates into economic and security terms means less budget revenue for Russia, less money for the Russian military and military industry, and less money for pro-Russian destructive forces in both our region and Wider. Oil prices on world stock markets fell by 30 percent, pulling stocks and capital markets as the prospect of a crude oil war hit markets that were already recovering from the Coronavirus outbreak. The price of crude oil reached its four-year low, marking the biggest daily decline in oil since the 1991 Gulf War.

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