Falling Ruble, Oil Prices, Russian Economy in 2014: Year in Review Part 2

Radio Sputnik is looking into this years`s major economic events together with Radio Sputnik`s analysts Henry Penikas, who is an Associate Professor of the Faculty of Economics at Higher School of Economics and Konstantin Guliayev, the head of Market Research Department at IFD-Kapital group in Moscow.

This is the second edition of the program that sums up the headline stories of the 2014.

First, we will discuss the unprecedented fall of the Russian currency. The ruble has been one of the world's worst performing currencies this year and lost almost half of its value in the last three months.

Secondly, we will have a look at whats been happening with the Russian economy by the end of this year. The economy has started shrinking in annual terms for the first time since 2009 as the country is buffeted by falling oil prices and Western sanctions.

And the last but not least as we touched upon the falling oil prices. We talk about this trend and look at the possibilities it might continue throughout the first quarter of 2015. Taking into consideration the fact that Saudi Arabia which is one of the main oil exporters stands firm on not decreasing the amount of its oil exports.