‘When Russia runs out of money, the REAL trouble will begin’, expert warns
RUSSIA is on the brink of chaos as its economy takes a double hammering, an expert has warned.
By KIERAN CORCORAN
Express.co.uk
Fri, Jan 22, 2016
The nation is being pummelled by the low oil price and global sanctions at the same time.
While the Kremlin is hanging on for now, a major investment manager warned that chaos is just around the corner.
William Browder, a long-time critic of Vladimir Putin’s regime, said world events have turned against Russia recently.
Its involvement in Ukraine’s civil war led to damaging sanctions from Western nations, which have choked off economic growth.
At the same time, a tumble in oil prices worldwide has hit the nation’s biggest export.
Mr Browder, the CEO of Hermitage Capital – a Russian-focussed investment vehicle, gave the warning.
He said: “I don’t think you can underestimate how bad the situation in Russia is right now, you’ve got oil below any measure where the budget can survive and you’ve got sanctions from the West. Russia is in what I’d call a real serious economic crisis”.
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