Special Extra: As Oil Goes, so goes Russia

The market gives, and the market taketh away

The price of oil fell yesterday to its lowest level in two weeks, below $94/barrel, and the Russian stock market went right down with it, by 5 pm Moscow time today having fallen by more than 7% — the oil/gas index was down over 8%. 

Special Extra: Nemtsov Appeals to SPS Members

Yet more news of craven capitulation to dictatorship within Russia. The Moscow Times reports that the SPS political party founded by Boris Nemtsov, and from which he resigned shortly before publishing his White Paper attacking the Putin regime, is dissolving and surrendering to the Kremlin, with many of its members being absorbed into pro-Kremlin parties.  Other Russia reports that the party’s leader, Nikita Belykh, resigned in protest against this proposal last week, and publishes an open letter to the party written by Nemtsov and White Paper co-author Vladimir Milov:

Dear friends and compatriots!

As result of recent events, the Union of Right Forces (SPS) has ceased to exist as a democratic opposition party.

Nikita Belykh’s place as the leader of the party was a guarantee that the SPS continue acting as an independent, living organism; a structure capable of conducting an independent policy, and defending liberal democratic ideas and values. Nikita Belykh courageously fought for the party.

The Kremlin’s scare tactics against representatives of Russian business has rid the Russian opposition of sources of financing. On a massive scale, the SPS was taken off [of ballots] in regional elections, and ran into unprecedented administrative and police pressure, [including] the arrest of its activists.