February 23, 2015
UNILATERAL DISARMAMENT:
Russian military spending could shrink 10% this year, says Rostec CEO (Nigel Wilson, February 23, 2015, IB Times)
Russia's military budget could fall by as much as 10% in 2015, according to the chief executive of Rostec.Russia is experiencing rapid economic decline, spurred by the dramatic fall in oil prices last year and a wave of punitive economic sanctions imposed by the United States and the European Union over its role in the Ukraine crisis.Russia's ruble fell dramatically in the second half of 2014 along a similar trajectory to the global oil price. The ruble was trading at 64 against the dollar on Monday afternoon (23 February) in London.
It's only Russia, but the UR has totally schooled Putin.
Posted by Orrin Judd at February 23, 2015 5:58 PM
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