A global crisis has never ended, most of the Western states have enormous debts which they are not able to pay off, and the current collapse of the Russian currency is just its continuation, Mitch Feierstein, of Glacier Environmental Fund, told RT.
For the sake of the Russian economy, the Central Bank cannot continue its waiting game strategy for too long hoping that speculators give up before it does, says Mike Ingram, a market strategist at BGC Brokers in London.
Russian arms producers increased sales by 20 percent in 2013, which offset a big drop among other industrialized countries such as the US and Canada, says a report from the Stockholm International Peace Research Institute (SIPRI).
The abolishment of the South Stream gas project will negatively affect countries which need cheap energy, such as Hungary, Anna Van Densky, a political commentator for EU Reporter Magazine, told RT ahead of the Central Europe summit in Prague.
With the end of the South Stream project, Russia will have to adapt to a new market where it will not provide gas delivery to end users, Aleksey Miller, the head of Gazprom said in an interview confirming South Stream will not be resumed.
The Russian economy is hurting from sanctions, low oil prices, and geopolitical tension, but predicting its imminent collapse is a fear-mongering tactic, and not entirely true, Russia’s Deputy Finance Minister tells RT.