Russia

Economic analysis update

E.C. ELBRUS CAPITAL INVESTMENTS

In 2014 and 2015 Russia was given a substantial economic blow following a new oil price shock and the implementation of economic sanctions for its annexation of Crimea and its active role in destabilising Eastern Ukraine. This triggered its first significant devaluation crisis in December 2014. Following a series of emergency rate hikes, which were instrumental in supporting the rouble, the currency renewed its weakness to reach an all-time low of 80 versus the US dollar in January 2016, as oil...

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