Putin tempts Tsipras with promise of lucrative gas deals… but can Russia really save Greece’s skin?
Russia’s economy is in deep trouble, according to Christian Odendahl of the Centre for European Reform. “Although the oil price and the rouble have stabilised, the Russian economy will go through a long, deep and painful recession,” he said.
If the oil price falls again, Odendahl said, it could plunge the country into economic crisis. Russia would then have enough to worry about of its own: high interest rates, poor access to finance and inflation, which would erode disposable incomes, worsening a recession.