Putin's Conference addresses Rouble Crisis

In his annual conference, Putin has tried to reassure Russia that it will seem improvements to the economy in the next two years. He made it clear that there would not be any capital controls implemented, or a change to government structure. In fact, there were few solutions suggested as he tried to convince Russia that oil prices would recover.

Despite the volatility of oil prices in the last week, the market shares moved very little during the three-hour conference, suggesting those buying shares were not encouraged or worried.

Putin’s speech began with commenting on Russia’s record harvest and positive economics; however this quickly moved to the rouble crisis and he flatly denied that Russia’s involvement in Ukraine had contributed to the collapse.

Throughout his speech, Putin was critical of the West, claiming it was trying to rid Russia of its nuclear weapons and natural resources. Likening Russia to a tormented bear, Putin continued to find fault with the West, stating even if Russia had not annexed Crimea, the West would have found another reason to target Russia.