MOSCOW: After embarking on an oil price war that shook global markets, Russia has been boasting that it can cope with oil as low as US$25 a barrel for the next decade. Economists aren’t so sure.
Russia has spent the past five years tightening its budget and building up more than US$550bil in reserves - leaving it in a stronger position than oil-market rival Saudi Arabia. Realistically, though, the Kremlin could begin feeling the pain if the crude price war lasts much more than a year, according to analysts.
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