RUSSIAN FINANCIAL CRISIS NEAR Oil-Gas crunch cripple economy
MOSCOW - Russia has fallen into full-blown depression & faces a mounting fiscal crisis as oil & gas revenues plummet. Output from country’s state-owned gas giant Gazprom has collapsed by 19pc over the past year as demand shrivels in Europe , falling to levels not seen since the creation of the company at the end of the Cold War. A report by Sberbank warned that Gazprom’s revenues are likely to drop by almost a third to $106bn this year from $146bn in 2014 , seriously eroding Russia’s economic base. Gazprom alone generates a tenth of Russian GDP & a fifth of all budget revenues. It will be several years at best before the country benefits from a new pipeline deal with China. Russia is already in dire straits. The economy has contracted by 4.9pc over the past year & the downturn is certain to drag on as oil prices crumble after a tentative rally. Half of Russia’s tax income comes from oil & gas.
NEWS REPORT : Daily Telepgraph ( July 23 , 2015 )
PROPHECY INSIGHTS - Russia is in trouble . . . & the trouble is getting worse !!! There is no light at the end of the tunnel. Western sanctions remain in place & US shale production limits any rebound in global oil prices. By the end of next year there wont be any money left in the Russian oil reserve fund. The official reserves have dropped from $524bn to $361bn since the Ukraine crisis first erupted in late 2014. What is amazing is that John Thomas (originator of the Christadelphians) wrote these words in 1849. “ Let the Russian treasury be as empty as it is said to be , and its expenditure exceed its revenue by double the alleged deficit, it will only operate as a pressure from within , causing her Autocrat to enter into the countries, and to " overflow and pass over " and to enrich himself with the spoil of those he is destined to subdue.” (Elpis Israel). How true…
DANIEL 11 v 42-43 - He will conquer many countries , & even Egypt will not escape. He will gain control over the gold, silver, & treasures of Egypt & the Libyans & Ethiopians will be his servants.
Speaking of the king of the north (Gog) we are told here he controls the wealth of Egypt. We are also told he wants to take a spoil in Ezekiel 38. Conclusion is that Russia needs wealth.
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