Global damages from suffering the stagnant Russian economy, would likely be minimal.

According to the Censor.NET with reference to ZN.UA about it writes Carol Matlack in his article for Bloomberg Businessweek.

The size of the Russian economy, according to the author, not so large that the crisis in Russia could have a significant impact on the economies of the world.

The author of the article asks the question: at a time when Moscow desperately takes measures to save its currency, should we start to worry the rest of the world about the spread of this "disease"?

Even after the ruble on Wednesday subsequent actions of the Russian government inspire anxiety in the financial markets. Emerging currencies and stocks around the world were in the grip of" investors are looking for safety in more developed markets.

The article notes that foreign companies that are heavily dependent on Russian sales, of course, taking a painful blow. Investors who have made large investments in Russia, now suffers.

"However, the global damage from suffering Russia will likely be minimal," the article reads. But the current crisis in Russia is completely different from the situation in 1998, when the default Moscow caused serious upheaval in emerging markets.

Now, as the author writes, most foreign companies have a minimum "suffering". "The Russian economy is on a huge map, but actually, it's the size of the economy of Italy", - noted in the publication.

"The Outlook for Russia remains gloomy. With oil prices at $ 60 per barrel, the economy is shrinking and foreign exchange reserves decrease as well, and companies are faced with the need to repay debts in the hundreds of billions of dollars, sanctions have restricted access to capital in global markets", - the newspaper writes.

The article emphasizes that the direct economic and financial ties between Russia and for the most part the rest of the world are relatively small. The Russian economy, which has experienced the devastating effects of low oil prices, cannot be restored in the near future, concludes the author.

Source: http://censor.net.ua/