[ptolerezort]

is Russian economy still dependant upon natural resources Yes. Big test for Putin. It won't be as bad as it was in the 90s, but the, let's say, power it wielded right after the Georgia issue isn't going to continue.

[smazibummigue]

Great time for an arms race

[gundorana]

Right now we are using our currency reserves to slow our descent, so it all depends on whether we run out of them before the recession ends.
Well, we've been through worse, e.g. in 1998, so I'm not too pessimistic.

[BliliBoopsy]

It will all depend on where the price of oil lands. $20? $60? If at $60, then Russia will be fine. If at $20, then Russia is well and truly fvcked.

It's no coincidence that Russia had its worst time during the late 90s, when oil was almost free.

[forextradinginfo]

They got nukes. And a gazillion of 60s era tanks.

[gugamotina]

They'll invade Finland and double the size of their economy.

if they attacked, Finland would win, annex Russia, and double the size of their economy.

Third world? Was Russia in really that bad a shape in the 90s?

yes, but I don't think it will fall as low now.