Oil Crisis And Its Impact On Russian Economy

From 2014 the international oil price started to fall quickly which lead to recession in Russian economy.In period of 2013-2015 the international oil price from 118 dollars dropped to 50 dollars per a ton.The acute fluctuations of the oil price and the sanctions of western countries against the Russian Federation leaded to the currency crisis and then to the structural crisis of the economy.Russia is the one of the biggest oil country and the Russian Federation's proved reserves of the crude oil have achieved 111,4billions tons.More than 20% of GDP surplus value,around 50% of the export gross volume and around 40% of total tax volume in the national budget depends of Russia's fuel and energy complex.To get rid of oil dependence,the Russian Federation should undertake measures to restructure the Russian economy and to improve the financial system.The main points of the article are the analysis of Russian present economy,the researching of the oil crisis and the features of the oil market,how the fluctuations of the oil price affect the development of Russian economy including the Russian financial system,import and export trade,the extractive industry,the manufacturing industry and the development of the service industry.In result to propose the appropriate decisions and suggestions.The article has got preface,4 chapters of main contain and conclusion.In total there are 6 parts.The introduction includes the research of the article's background,the summaries of domestic and foreign economic authors,methods and sense of the research.The second chapter is about the theory of oil crisis and the analysis of relations of the economic crisis and the oil crisis.The third chapter describes the questions of the present oil crisis,Russian oil market and Russian present economy including problems of the foreign trade,investments and the foreign cooperation.The forth chapter includes the research of the impact of fluctuations of the international oil price to Russian economy and how the oil crisis affect the changes of macroeconomics indexes and development tendency of all industry.The fourth chapter includes the analysis of impact of the oil price to Russian GDP,trade balance,balanced budget,inflation,impact to Russian currency,the mining and the manufacturing industry,the service industry and the living standards(unemployment,income,etc.).The main point of the fifth chapter is the proposal of appropriate development directions and suggestions of the influence of oil crisis to Russian economy.