The collapse in oil prices will weaken Russia, Ukraine’s geopolitical adversary. When Moscow trading starts today after the March 9 holiday, the ruble is expected to weaken beyond Monday’s 4% fall. In London trading Monday, several major Russian companies, including Gazprom, saw their share prices fall by one quarter. In contrast to previous Russian recessions, the economies of Russia and Ukraine are increasingly de-linked, a legacy of six years of war.
The collapse in oil prices will weaken Russia, Ukraine’s geopolitical adversary.
