On Thursday, oil prices plunged to a four-year low. And that has the potential to be very bad for Russia's economy. Russia is the world's largest energy exporter, and gets roughly half of its revenue from taxes on oil and natural gas.
Vladimir Putin seems to be taking the threat of slumping oil prices very seriously.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
4 tips for hosting an ecofriendly ThanksgivingThe Week Recommends Coming together for the holidays typically produces a ton of waste, but with proper preparation, you can have an environmentally friendly gathering.
-
Jussie Smollet conviction overturned on appealSpeed Read The Illinois Supreme Court overturned the actor's conviction on charges of staging a racist and homophobic attack against himself in 2019
-
What might happen if Trump eliminates the Department Of Education?Today's Big Question The president-elect says the federal education agency is on the chopping block
-
Nobody seems surprised Wagner's Prigozhin died under suspicious circumstancesSpeed Read
-
Western mountain climbers allegedly left Pakistani porter to die on K2Speed Read
-
'Circular saw blades' divide controversial Rio Grande buoys installed by Texas governorSpeed Read
-
Los Angeles city workers stage 1-day walkout over labor conditionsSpeed Read
-
Mega Millions jackpot climbs to an estimated $1.55 billionSpeed Read
-
Bangladesh dealing with worst dengue fever outbreak on recordSpeed Read
-
Glacial outburst flooding in Juneau destroys homesSpeed Read
-
Scotland seeking 'monster hunters' to search for fabled Loch Ness creatureSpeed Read
