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MOSCOW Cheap Benardrick McKinney Jersey , Dec. 19 (Xinhua) -- It has been more than a decade since Russians woke up to find again their ruble savings sharply depreciate against the U.S. dollar and the euro. Even worse, they would probably have to endure a few years of recession coupled with high inflation risks.
Meanwhile, both the Russian leadership and experts agree that the economy will ride out recession, as the country has started accelerating economic restructuring and diversification.
INEVITABLE RECESSION, DEFINITE REBOUND
In his 10th year-end major press conference on Thursday, Russian President Vladimir Putin attributed the current economic difficulties primarily to such external factors as falling oil prices and broadening Western sanctions on Moscow.
The oil prices have contracted some 40 percent over the past five months, while the Organization for Petroleum Exporting Countries has so far hinted no decline in oil output.
As a major traditional oil powerhouse Cheap Kevin Johnson Jersey , Russia has been counting nearly half of its revenue on energy exports.