Why Putin’s oil maneuvers will keep Russia in the Middle East

As Vladimir Putin enters his next term, it’s virtually certain Russia’s presence and engagement in the Middle East will continue and deepen — in large part because the state budget is heavily dependent on oil revenue. Here’s the story.

Russia depends on oil revenue to finance both military and social spending. Rather than risk major reforms at home, Putin is likely to rely on Russia’s earnings from oil taxes and revenue — about half of Russia’s federal budget.

That means that Russia is in the Middle East for the long haul…

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