'Worst Is Yet To Come' For Russian Financial Sector

September 16, 2008

Aslund: Of course, you have a multiple impact. So you can say that the overall causes of the decline in Russia that we have seen on the stock market is first the general economic slowdown, including the [global] financial crisis; the second is the falling oil price; the third is Putin's attack on [mining and metals company] Mechel, which sharply took down the Russian stock market; and then the war in Georgia. These are the four direct causes if you look at the stock market specifically.
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