Russia Scrambles To Save Its Economy As Oil Prices Collapse

Russia, hit by falling oil prices and the coronavirus outbreak, has announced the formation of a $4 billion fund as part of a package of measures to support the economy. Prime Minister Mikhail Mishustin said on March 16 that the new measures would include tax breaks for airlines and companies in the tourism sector, along with an expansion of a program to give preferential loans to businesses. State companies, such as Gazprom and Rosneft, may also be allowed to delay dividend payments by six months.The 2020 Russian federal budget includes the receipt…