Latest Issue

Russia’s coming economic storm

It could be worse than the financial crisis

By Shweta Singh  

. © The Conduqtor

Russia faces a perfect storm. Oil is the country’s key growth driver and the price has collapsed. Geopolitical risks abound and there are huge risks to Russia’s external funding which is already under pressure from a stronger US dollar and potentially higher US interest rates.

The economic dislocations in Russia will be severe and will likely surpass those felt during the 2008 financial crisis. If there is no meaningful recovery in the oil price, or easing of sanctions,…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with newsletters, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

We want to hear what you think about this article. Submit a letter to

More From Prospect