Analysis: oil, gas deals give Russia long-term win - Forbes

The ruble is dropping, oil production is declining, foreign capital is fleeing, currency reserves are dwindling. Short-term, the Kremlin is struggling to deal with the worst economic crisis in a decade.

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Long-term, though, the Kremlin appears to know exactly what it wants. And with the cut of a ribbon and the stroke of a pen last week, it staked its claim to what could be the start of a major shift in international energy politics. Russia launched its first liquefied natural gas plant on the Pacific island of Sakhalin, the first facility of its kind for shipping Russian gas abroad. And in Beijing, Russian and Chinese officials signed a major long-term oil contract and pipeline deal.

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