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Russia is less oil dependent than SA... Are you sure? Everything I've read has said some variation of _Russia is heavily dependent on oil exports_ [1]. Russia
by exhilaration 7y ago
Russia is less oil dependent than SA...
Are you sure? Everything I've read has said some variation of _Russia is heavily dependent on oil exports_ [1]. Russia has a massive cash reserve to weather this crisis but they're still being hurt just as badly as KSA.
[1] https://www.npr.org/2020/03/12/814824039/how-russia-is-reacting-to-the-oil-price-war https://www.npr.org/2020/03/12/814824039/how-russia-is-react...
- gbear605 7y agoFrom their Wikipedia pages, 40% of SA's GDP is oil[1] versus 16% of Russia's[2], also 90% of SA's exports versus 70% of Russia's. Certainly both countries are disastrously hurt by a collapse in oil prices, but SA seems to be worse off. [1]: https://en.wikipedia.org/wiki/Economy_of_Saudi_Arabia https://en.wikipedia.org/wiki/Economy_of_Saudi_Arabia [2]: https://en.wikipedia.org/wiki/Economy_of_Russia https://en.wikipedia.org/wiki/Economy_of_Russia
- rechristened 7y agoThey didn't say Russia wasn't heavily dependent on oil. They said KSA was even more dependent.