Moody’s investors provider on Friday positioned Russia’s Ba1 sovereign score on evaluate for a imaginable downgrade in the wake of a chronic decline in oil prices. The review will focal point on the impression of vulnerable oil on Russia’s economic system and the government’s fiscal funds, the scores company said. Moody’s estimated that depressed oil prices will likely raise Russia’s debt burden with the aid of 12 percentage factors over a 4-year length. Oil and gasoline account for virtually 60% of Russia’s exports, in step with the rankings company. together with Russia, Moody’s additionally placed Saudi Arabia, Qatar, Kuwait, and United Arab Emirates on review for downgrade.
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