Oil and gas in the capitals ///

The Russian ruble’s recent appreciation remains firm. The ruble broke down the RR 60-to-$1 barrier some weeks ago. While it has advantages for Russia, and may help to limit inflation, it also could have negative consequences for Russia’s economy, if it were to strengthen further. This movement reflects the sentiment of foreign investors that the Russian economy is now on a growth path. But this movement also reflects the feeling that there would soon be opportunities for speculation in Russia.

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