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Oil prices haven't actually collapsed. The negative thing was a 1 day anomaly due to how US oil is traded. It was an interesting circumstance. If you want to follow how much Russian oil is sold for, here is the link.
The actions of the government were to cut oil production, which is the correct thing to do and now the pain will be spread out more evenly through the oil industry like it should have been done last month. Hopefully they actually fulfill the promised production cuts or the current price will seriously deteriate.
Compared to WTI, Urals prices are just "to the moon".
Sounds like a good excuse why they don't have the 2,300 that were supposed to be produced by now. All the T-14 is, is the latest of prototype weapons presented to its public as some superior item but then is excused away later why its not actually being produced. This happened during 2014 when Putin needed some big ideas to sell his public why his system is better than demanding a European style future. Same thing, different decade. It is a nice tank, but like I said (and you apparently agree) it will never be produced so its not really important to anyone. Much like the Su 57 jet which still hasn't come to fruition and probably never will. Oh but the Su-27 is good enough! Sure it is...
If small-scale serial production is established, then organizing large-scale serial production is just a matter of money, desire and time. And this time is very short compared to a development of new technology.
Oil prices haven't actually collapsed. The negative thing was a 1 day anomaly due to how US oil is traded. It was an interesting circumstance. If you want to follow how much Russian oil is sold for, here is the link.
The actions of the government were to cut oil production, which is the correct thing to do and now the pain will be spread out more evenly through the oil industry like it should have been done last month. Hopefully they actually fulfill the promised production cuts or the current price will seriously deteriate.
Urals prices are pegged to Brent. Brent is going through the worst of its past 20 years. However, the ruble does not fall into an abyss. It's good.
So, despite all difficulties and many problems, I consider work of the government to be good at the current moment.
The only thing I really want to cancel credit payments at the time of isolation. If you rob people of their jobs (stay at home), freeze credit payments!
Urals prices are pegged to Brent. Brent is going through the worst of its past 20 years. However, the ruble does not fall into an abyss. It's good.
Not entirely true on the Brent peg, but close enough. Oil prices are only 1 side of the equation, as you have to factor costs. As the ruble falls, some of that cost is lowered, but last I heard, costs were 30 per barrel this winter and they are now in the low 20s. Still no room for any revenue to the budget so the dollar reserves are paying for this every day. History points to Russia not abiding by its production cuts though, so I won't be surprised to see the oil price fall again.
I guess you could argue the ruble only going from 61 up to 80 and now floating around 76 to 77 as "good", as this "only" erodes purchasing power by 25%.
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