Maxim Blunt: "Reach until 2018"

“Oil prices remain the main factor determining the state of the Russian economy. The Russian national currency and Russian stock indices are sensitive to the slightest changes in the mood of the oil market. Budgetary indicators, consumer sentiment, inflation - everything is tied to oil prices.

Panic moods give way to euphoria, which, in turn, gives way to gloomy pessimism. All hopes for the devaluation of the ruble, which, coupled with “anti-sanctions,” was supposed to ensure a rapid process of import substitution, were dashed to ashes by the dramatic drop in effective demand caused by the same devaluation, as well as the practically ceased investment activity.”