Russia's Tanking Economy And The Putin Effect
Facing sanctions, dropping oil prices and poor ruble value, Russia is heading for a recession in 2015, its first since 2009. And Putin isn't helping.By Jake Godin | December 4, 2014
As much as Russian President Vladimir Putin may not want to come out and say it, Russia's in a tight spot. And he's part of the problem.
The country's economic woes stem from a trident of causes including economic sanctions set by the European Union and U.S., a steep decline in the value of the Russian ruble and dipping oil prices.
In November, Russia's finance ministry projected Western sanctions imposed on Russia over the ongoing crisis in Ukraine will cost the country's economy around $40 billion a year. (Video via Radio Free Europe / Radio Liberty)