Russian revival unravelled?
Russia has started to emerge gingerly from recession but don’t bank on it lasting
Russia’s economy has withstood a combination of low energy prices and sanctions and may soon emerge from the deepest contraction of President Vladimir Putin’s 16-year reign. Without a sudden oil-price surge, though, few signs point to much of a sustainable rebound. While the IMF predicts Russia’s GDP will return to growth in 2017, expanding by 1%, Putin himself has warned that the economy will stagnate near zero if no new sources of economic activity are found. Russia earns about half of its revenue from crude and natural gas and benefitted from the recovery in oil markets in the first half of the year. And while Brent soldiered toward $50 in mid-August, lows at the beginning of the third qu
Also in this section
23 April 2026
The addition of an oil pipeline to the Power of Siberia 2 gas project could ensure deliveries of Russian oil to China, materially shorten logistics lines between West Siberia and final customers, and—amid disruption in the Strait of Hormuz—offer a land-based export route that reduces exposure to maritime chokepoints
23 April 2026
There is a clear push to bolster exports to Asia amid uncertainty around its North American neighbour, but there are limits to the benefits from the energy crisis
23 April 2026
Shell made the play-opening discovery in Namibia’s Orange basin back in 2022, but its next well could decide whether the project can actually be commercialised
22 April 2026
The failure of OMV Petrom’s keenly watched exploration campaign at Bulgaria’s Han Asparuh block highlights the Black Sea’s uneven track record, despite major successes like Neptun Deep and Sakarya
