Asia Times Online: Putin defies stagnation
The crucial economic signal for Russia last week was the price slide for the Urals oil blend below the US$100 per barrel level, which is not only a symbolic watershed but also an inflection mark on which the Russian budget goes into red. Prime Minister Vladimir Putin boldly dismissed this minor dip, asserting that oil prices remain at "acceptable levels" so that the real question for his government was how to distribute the surplus revenues. Read full story here.