Does Oil Put Russia at Risk of a Soviet-Style Collapse?

The transcript discusses a report by Ambrose Evans Pritchard in the Telegraph, quoting Lubomir Mitov from the Institute of International Finance. It highlights the impact of falling oil prices on Russia's economy, noting that a $10 decrease in oil prices reduces Russia's export revenues by 2% of GDP. This decline could lead to a significant current account deficit, creating a 'perfect storm' for the Russian economy.

Who is quoted in the discussion linking oil prices to Russia's economic situation?

• Ambrose Evans Pritchard

• Lubomir Mitov

• Jane Smith

• John Doe

Which organization is Lubomir Mitov associated with?

• World Bank

• International Monetary Fund

• Institute of International Finance

• European Central Bank

What term is used to describe the situation caused by falling oil prices?

• Economic downturn

• Financial crisis

• Market collapse

• Perfect storm

By how much does a $10 fall in oil prices reduce Russia's export revenues?

• 4% of GDP

• 1% of GDP

• 2% of GDP

• 3% of GDP

What is the expected shift in Russia's current account due to the decline in oil prices?

• No change

• Balance

• Surplus

• Deficit