Anders Aslund: What the falling oil price means for Russia and Ukraine
A woman walks past a board listing foreign currency rates against the Russian ruble in Moscow, on January 21, 2016. Russia's ruble resumed its slide to new record lows against the dollar, tumbling over 3 percent in early trading beyond 84 to the greenback on tumbling oil prices
At present the price of Brent crude oil is $28 per barrel, while it was $114 per barrel in June 2014. This price fall by three-quarters is of great importance for the Russian economy and its policy toward Ukraine. The only rational option for the Kremlin is to wind down the conflict with Ukraine.
