Putin's plan to fight recession in Russia also increases Kremlin's control of the economy

Written by Dr Richard Connolly. The Russian rouble started 2015 in much the same way it finished 2014: badly. After losing nearly 50% of its dollar value between July and the end of the year, the rouble lost a further 7% in January. The primary cause of this continued decline is the falling price of oil: Brent crude has dropped from US$53 dollars per barrel at year end to just under US$48 per barrel, a decline of nearly 10% for the year so far.