The Washington Post reports:

Russia may have to borrow money from international markets next year for the first time in a decade, Finance Minister Alexei Kudrin said Tuesday, as the government seeks to conserve cash amid a severe recession.

Russia last turned to foreign lenders in 2000. Since then, it had stashed windfall oil profits — helped by a surge in commodity prices — into a reserve fund and accumulated the third-largest foreign currency reserves in the world.

When oil prices were sky-high, Russia thought it could afford to invade neighboring Georgia.  Now they’ve blown their wad and oil prices are back to normal, plus they’ve made themselves a pariah to foreign investors to boot.  It couldn’t happen to a nicer tyrant.

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