Putin warns that 'catastrophic' oil slump is 'entirely possible'

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.

Putin also offered assurances that Russia would be able to handle even a catastrophic slump because it has more than $400 billion in its reserves. Read more at Bloomberg.

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