Russians are struggling to make ends meet, as its economy continues to be pulled downward by the declining oil price and high inflation.
Two of the world's largest oil producers see a consensus emerging between OPEC and non-OPEC states for long-term cooperation on stabilizing oil prices, including the extension of output cuts expiring at the end of 2018.
Global oil prices fell after the US-led airstrikes in Syria at the weekend, having spiked last week on fears Middle East tensions might escalate. Eyes now turn to how Syria's key sponsors, Russia and Iran, react.
Russia's economy is the world's eleventh-largest. Following a period of recession, it managed to return to growth last year despite Western sanctions widening. But can the country continue on the road of recovery?
Every war has economic impacts. Escalating the conflict in Syria, a multi-sided proxy war involving multiple regional and global powers, will have broad consequences. Higher oil prices may be among the outcomes.
© 2018 Deutsche Welle |
Legal notice |
| Mobile version