Why the oil price is a serious problem for Russia

Sergei Guriev, a former advisor to the Russian government, told CNBC that, should oil prices stay at their near-record lows of around $82 a barrel, Russia, which is basing its economic forecasts on a much higher oil price, would face a "serious problem." In 2013, for example, Russia's energy exports constituted more than two-thirds of total exports amounting to $372...