Plummeting oil prices have sparked another round of predictions about the economic collapse of Russia – this time from US President Donald Trump, who sounded a lot like his predecessor Barack Obama on the subject.
The price of crude oil has crashed to $20 this week, due to a one-two punch of Saudi Arabia flooding the market with record output and a sharp drop in global demand owing to the coronavirus pandemic. Asked about it during a press conference about the pandemic on Thursday, Trump described the price war as “very bad” for Saudi Arabia and “devastating” to Russia, but helpful in a way to American consumers as it will lower gas prices at the pump.
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