Oil, gas and mining

Pandemic, plunging oil prices, and Putin: What does the future hold for the Russian Economy?

The global coronavirus pandemic and the recent oil war between Russia and Saudi Arabia has brought a financial crisis to the country. With oil prices below $25 per barrel and a 33 percent reduction in economic activity since Russia’s lockdowns began, Russia’s economy is facing dangerous new challenges. On May 11, President Vladimir Putin declared that the “non-working” period will come to a close on May 12. How has the crisis affected ordinary Russians, has the Kremlin’s economic policy response been appropriate, and how will Russia’s economy recover?

Dr. Sergei Guriev, professor of Economics at Sciences Po, Paris’s Department of Economics; Vladimir Milov, Russian opposition politician, publicist, economist, and energy expert, and an economic adviser to the Russian opposition leader Alexey Navalny; and Elina Ribakova, deputy chief economist at the Institute of International Finance, discuss the impact of coronavirus and plummeting oil prices on Russia’s economy. Dr. Anders Åslund, senior fellow at the Atlantic Council’s Eurasia Center, will moderate the discussion.

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