The second positive consequence would be to cripple the economies of leading American enemies, such as Russia and Venezuela. Oil and gas account for 68 percent of Russian exports and 45 percent of government tax revenues. The recent decline in the oil price has already provoked the finance minister to say that Russia may not be able to increase military spending next year. The devaluation of the ruble has helped to offset some of the revenue impact of falling oil prices, but Russia had been budgeting for a $100-per-barrel oil price next year. If it drops into the $50-60-per-barrel range, Russia will be hard pressed to maintain spending, while the central bank could be forced to hike interest rates sharply in order to defend the ruble. The odds would increase of Russia experiencing a major recession after only 0.2 percent GDP growth this year.
http://nationalinterest.org/feature/why-iran-deal-400-billion-tax-cut-11707
Iran might do it if they could hurt Saudi Arabia as well, and the Saudis are helping Zero with this rope-a-dope. One might think that the Iranians can’t bear to turn it down, because they need to sell more at the lower prices in order to cover the costs of their despotate and worldwide jihad, but they probably aren’t sufficiently motivated by the prospect of more cash, or watching their main ally of convenience (Russia) go down the drain. Meanwhile, BRICS is going to wind up hitting the bricks...
Russian Bombers Threaten Guam
The Washington Free Beacon | November 19, 2014 | Bill Gertz
Posted on 11/20/2014 11:24:23 AM PST by McGruff
http://www.freerepublic.com/focus/news/3229216/posts
Russia’s Jet Incursions Buzz An Alarm For Europe
IBD | October 30,2014 | IBD
Posted on 10/30/2014 8:40:25 PM PDT by Hojczyk
http://www.freerepublic.com/focus/news/3221552/posts
Russia says in talks with Venezuela over countering oil price falls
Reuters | November 18, 2014 | by Denis Dyomkin
Posted on 11/18/2014 11:19:28 AM PST by Oldeconomybuyer
http://www.freerepublic.com/focus/news/3228373/posts
Venezuela increases luxury taxes to bolster state coffers
Reuters | November 19, 2014 | by Brian Ellsworth
Posted on 11/20/2014 10:52:18 AM PST by Oldeconomybuyer
http://www.freerepublic.com/focus/news/3229203/posts
Industry Group: Brazil ‘Falling Off World Oil Map’ Over Failed Policies
Reuters via Rig Zone | September 16, 2014 | Jeb Blount
Posted on 09/16/2014 6:02:03 AM PDT by thackney
http://www.freerepublic.com/focus/news/3204511/posts
Chinese weapons winning battle for international market
China Daily/Asia News Network | Monday, Nov 17, 2014 | Zhao Lei
Posted on 11/16/2014 8:27:42 PM PST by sukhoi-30mki
http://www.freerepublic.com/focus/news/3227777/posts
For Israel, Chinaâs a trading partner, India a strategic one
Times of India | 18 November 2014
Posted on 11/17/2014 8:25:10 PM PST by cold start
http://www.freerepublic.com/focus/news/3228147/posts
Under Modi, Israel and India forge deeper business ties
Reuters | Nov 19, 2014 | TOVA COHEN AND ARI RABINOVITCH
Posted on 11/19/2014 6:14:31 AM PST by sukhoi-30mki
http://www.freerepublic.com/focus/news/3228650/posts