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In Russia, The Oil Price Drop Hits Putin's Base Hard

The drop in world oil prices is still biting hard at Russia's economy. As oil has collapsed, so has the value of the ruble. And the people who've been hit hardest — pensioners and people who aspire to join the middle class — are groups that are important to President Vladimir Putin's political base.

For many Russians, the symbol of entering the middle class was the ability to buy a house or apartment.


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