Russia is out of control. All of a sudden, it has launched an oil price war, even though it is unrealistic that the Kremlin can defeat Saudi Arabia and the United States in such a contest. Saudi Arabia’s population is one-fifth of Russia’s while holding equivalent international currency reserves. The United States is still a net oil exporter, meaning that its economy benefits from low oil prices. Russia, by contrast, is a major oil exporter and is utterly dependent on high oil prices.
OP-ED
Anders Aslund: Russia is out of control
Russian President Vladimir Putin (L) and Rosneft chief executive, Igor Sechin (R) attend a signing ceremony following a meeting with Qatar's Emir at the Kremlin in Moscow, on March 26, 2018.
