MOSCOW -- A steep decline in oil prices is straining the budgets of major petroleum-exporting countries around the globe, raising a specter of spending cuts in Russia, where the economy is under pressure from Western sanctions, and posing a potentially grave security challenge for Iraq, which is already struggling to finance its fight against the Islamic State.
Ukraine's Energy Challenge
New York Times: Fall in oil prices poses a problem for Russia, Iraq and others
Picture taken 10 January 2007 shows pipelines in Sahy, southern Slovakia.
