Russian oil production and sanctions take toll on economy
Global oil prices have been falling, but this hasn’t phased Russia. The country has decided to continue producing as much oil as planned, despite low demand for the country’s most important asset. This move, coupled with sanctions, has led to a decline in the value of the Russian ruble. Jan Kalicki, a public policy scholar for the Kennan Institute at the Wilson Center, joins us to tell us what’s next for Russia’s economy.
(photo: People walk past a display with currency exchange rates in Moscow, Russia, Wednesday, Dec. 3, 2014. (AP Photo/Pavel Golovkin))