February 7, 2014
As Olympics Arrive, Russia Experiences Downturn
Steven Myers, New York Times
The Associated Press
The Games are a crowning moment for Mr. Putin, a chance to demonstrate anew his mastery of the global levers of power, but perhaps not for the country he governs. With Russia’s natural-resource dependent economy slowing as commodities prices fall, and with foreign investments drying up, the Kremlin has already signaled that it would have to cut spending. The $50 billion or so lavished on Sochi is becoming a political liability.
TAGGED: Sochi Olympics, Russia, Vladimir Putin