How the oil collapse stole Russia’s Christmas * Oil price fall is blow to Russian budget and exports * Budget reserves will last just over a year with $30 oil * Spending cuts likely to extend economic recession

By Sujata Rao and Jason Bush LONDON/MOSCOW Jan 10 : A plunge in the oil price to 12-year lows during Russia’s New Year and Orthodox Christmas break means the country returns to work on Monday with its economic recovery and once-mighty savings war chest on the line. The equity and currency turmoil in China that […]