Why Russia’s economy is unlikely to collapse even if oil prices fall

<p>Hopes that tougher sanctions and lower oil prices could derail Putin’s war effort underestimate how far the Kremlin has rewired its economy</p><p>Pacing inside the Kremlin last weekend, as news feeds churned out minute-by-minute reports of Donald’s Trump’s Venezuelan coup, Vladimir Putin may have been wondering <a href="https://www.theguardian.com/world/2026/jan/05/russia-weighs-up-fall-of-nicolas-maduro-venezuela">what it would mean for the price of oil</a>.</p><p>Crude oil has lubricated the Russian economy for decades – far more than gas exports to Europe – and so the threat of falling oil prices, prompted by US plans for control of Venezuela’s rigs, will have been a source of concern.</p> <a href="https://www.theguardian.com/business/2026/jan/10/russia-economy-collapse-oil-prices-fall-war">Continue reading...</a>