March 9th, 18:00

Many pundits have forgotten about the global aspect when discussing the economical component of the Russian invasion into Crimea. Yury Shubin focused on this very point.

Certain agreements concerning Iran came into force on January 20th. Iran is promising to reduce its nuclear program, while the West will have abolished sanctions by June 20, 2014 as well as its oil embargo. This would lead to an increase in Persian oil supplies by 1 million barrels per day to the level of 4 million barrels per day by June, which could considerably decrease the price per barrel. That is disadvantageous for Russia, because its budget was made using the price of 90 US dollars per barrel, and a price of lower than…