GeoBITs

January 20, 2023

Russia & Europe

Economy

Analysts point to a weakening ruble as an arbiter of the Russian economy’s trajectory in 2023. The currency slid 12% against the dollar in December 2022 – stymied by the European oil embargo – cutting its gains from the prior year in half.

• Oil and gas revenues account for 40% of the national budget. Falling energy prices globally—pa…