Baku - APA-Economics. Saxo Bank’s first prediction is that Russia will face default due to oil prices falling more than -25% and the Russian ruble crashing -40% on the year versus the US dollar.
Additionally, with continued tough sanctions on Russia by Western countries are predicted to only make matters worse and will end in Russian government defaulting on their debt obligations and payments. Corporate Russia owns $134 billion in debt payments between now and the end of 2015.