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In Reply to: Looks like the Russian Ruble . . . . posted by Mel on December 17, 2014 at 05:44:59:
The petrodollar deal in the 1970s, US oil production being highest in 30+ years and agreement of OPEC to let the oil price fall in response to Putin attacking Ukraine. This oil price fall substantially effects Russian income with affecting the value of Russia's currency. OPEC & US can still make a profit at $40 a barrel whereas Russian requires substantially higher prices to just break even.
Edits: 12/17/14
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Follow Ups
- RE: You can Thank..... - sony6060 12:02:50 12/17/14 (1)
- Profit is a capitalistic lie, comrad. - Chip647 04:55:18 12/18/14 (0)