Tariffs-spared Kremlin says a global war trade would still hurt Russia

Russian oil prices are sliding. That's not enough to stop Putin's war machine

Russian President Vladimir Putin at a Kremlin summit in 2024.Getty ImagesGlobal oil prices have tumbled since President Donald Trump's tariff announcement.Urals crude fell to $47.50 a barrel last week, the lowest level for almost two years.Russia may offset lower oil revenues by cutting government spending, experts told BI.Russia may not have been on President Donald Trump's tariffs list, but the levies have had a significant effect on oil price…

Tariffs-spared Kremlin says a global war trade would still hurt Russia

The Kremlin says it's not immune from the economic aftershocks that could ensue in a potential global trade war.

Russia was bypassed by the new trade tariffs announced earlier this month by former US President Donald Trump.

Russia has avoided Donald Trump's tariffs, but the Kremlin says the country is not immune to their effects. "Of course, the instability in the global economy cannot but affect Russia," Kremlin spokesman Dmitry Peskov told CNBC. Analysts point out what Vladimir Putin could lose and what he could gain from a trade war.

Tariffs-spared Kremlin says a global war trade would still hurt Russia - Business Fast

President Donald Trump and Russian President Vladimir Putin shake hands as they hold a joint news conference after their meeting in Helsinki, Finland, July 16, 2018. Leonhard Foeger | Reuters Russia escaped unscathed from President Donald Trump’s trade tariffs unveiled earlier this month, but the Kremlin says Moscow is not immune from the economic aftershocks that could ensue in a potential global trade war. “Of course, instability in the globa…