asagefield

Russia: The Only Exception to the Global Slowdown

Though Russia is relatively resource rich outside of the oil, I don't think crude oil will be enough to insulate Russia from a slowdown. China and India are removing their gas subsidies, and their export dependent economies are slowing down, which will do a lot for oil's demand elasticity. Among the BRICs, Russia and Brazil are holding up well because of their natural resources for the time being.