Christopher Granville

Managing Director, EMEA and Global Political Research
+44 20 7246 7867

Irina Lebedeva, CFA

Economist, Russia/FSU Research - Moscow

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Recent Russia research

* Russia: US sanctions – a contrarian case, Christopher Granville, 28 Jul 2017
* Russia: Rates outlook – the key revealed, Christopher Granville, Madina Khrustaleva, 20 Jul 2017
* Russia: End of Putin revisited, Christopher Granville, 30 Jun 2017
* Russia: Geopolitics less bearish than oil, 23 Jun 2017
* Russian oil – volume gearing, Christopher Granville, James Henderson, 8 May 2017

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The consequences of Putin’s big spend

Overview

Alexey Kudrin’s statements before and after being sacked as Finance Minister suggest that he had abandoned hope of being able to reverse what he regards as a reckless fiscal loosening. In this report we assess the risks associated with the relentlessly rising break-even oil price for the federal budget. We also analyze the investment opportunities stemming from the need to finance the resulting...

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