Why Vladimir Putin Needs Higher Oil Prices

In an article for Time Magazine, correspondent, Michael Schuman, explains why President Vladimir Putin needs higher oil prices. Oil lubricates the Russian economy by making possible the increases in government largesse that have fuelled Russian consumption. So achieving Putin’s stated goals in his third term will require drastic changes in the Putin state, changes he has so far shown little willingness to make.

Thursday, July 5, 2012