[Trump's Collateral Damage on Russia]
On April 7, the Moscow Stock Exchange fell by 2%, marking its 14th consecutive day of decline, which is the longest streak of consecutive losses since Russia's debt default in 1998.
Ironically, Trump had specifically excluded Russia and its ally Belarus from his long list of countries targeted for tax increases. However, the widespread impact of Trump's tariff war has made Russia an incidental victim.
This impact has not only caused a plunge in the Russian stock market but also sent oil prices to their lowest level in four years. The price of Brent crude oil is now just $63 per barrel, while the price of Urals crude oil, Russia's main export, has plummeted to nearly $50 per barrel, a 25% drop below budget levels and almost $20 lower than the expected price for this year.
Original article: https://www.toutiao.com/article/1828850763484224/
Disclaimer: This article solely represents the author's personal views.