The price of Natural Gas is more important. IMO commodities (are right here?) will bottom. As long as Oil does not go under like 45 and stay there Russia will be fine. They have been prepared for 50 dollar oil and Natural Gas right here (Nat Gas appears to be bottoming---we have to remember that all during the last part of the oil boom NatGas did not participate and they were fine). They have captive customers and all the natural resources anyone could want. Especially things like WATER! Russia would be in a lot worse position IF everyone else in the world did NOT get smacked as well. This is global. So you got to look at who has big reserves and hard assets (like energy resources etc) to generate cash flow. Everyone has been killed by the US Federal Reserve and the dollar. We will see the end results. But everytime I read a Neocon type hit piece on the end of Russia it is a buy. Of course, they have an equity/futures market reminiscent of the USA 100 years ago ----a total roller coaster ride.