Russia’s Oil-Dependent Economy Struggling as Sanctions Begin to Bite, Say Experts

A senior market analyst said Russia’s fiscal health and the stability of its currency was linked to movements in the price of crude oil.

Russian Prime Minister Vladimir Putin opens a throttle during the opening ceremony for the Russian section of the Russia-China oil pipeline in the Amur region, Russia, on Aug. 29, 2010. Alexey Druzhinin/AFP via Getty Images

News Analysis

U.S. President Donald Trump announced new sanctions on Russia on Oct. 22, targeting its two largest oil companies, Rosneft and Lukoil.