Claims that $80 oil would lead to an economic crisis in Russia and an end to the presidency of Vladimir Putin are not true, Chris Weafer, a senior partner with consultancy Macro-Advisory in Moscow, wrote in an e-mailed note to investors on 14 February.

“One of the frequently heard criticisms about Russia is that the economy and socio-political stability are completely dependent on the price of oil,” Weafer wrote. “In recent weeks, in the run up to the Olympics, there have been several article...


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