Leonid Bershidsky: Putin doesn’t mind oil’s fall
Picture taken on February 18, 2015 shows facilities of Novoprtovskoye oil and gas condensates oilfield of Russian gas and oil giant Gazprom at Cape Kamenny in the Gulf of Ob shore line in the south-east of a peninsular in the Yamalo-Nenets Autonomous District.
Russia's economic decline this year is often attributed to low oil prices. Yet Russia has performed considerably worse than most of its oil-exporting peers, so there must be another reason.
