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Russia s revival is an opportunity for EM investors

Russia’s revival is an opportunity for EM investors Photo: AFP Premium Viram Shah Share Via Read Full Story What comes to mind when we think about today’s Russian economy? For me, and probably for many others as well, it is two words oil and sanctions. Russia has always been highly dependent on oil exports. However, in 2014, things took a turn for the worse as a sharp drop in oil prices combined with western sanctions imposed to punish Russia for invading Crimea pushed the country’s economy into a crisis. The Russian stock market plunged by 30% in 2014 and stayed pretty much flat in 2015. Despite the Russian Central Bank’s intervention, the Russian currency dropped from 33 rubles to the dollar in January 2014 to as low as 69 rubles to the dollar in February 2015.

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