Russian Prime Minister Vladimir Putin's success, driven by soaring oil prices and consolidation over government and media, has been diminished in the wake of a market failure that has plummeted further and faster than any other troubled market in the world. Putin, Russia's former president who is given credit for delivering the nation from economic standstill in 1998, faces the present financial crisis with no debt, a massive surplus, and vast holdings in foreign currencies.
Full report by Philip P. Pan, Washington Post Foreign Service, Sunday, September 21, 2008 (hat tip UN Wire - Russian financial crisis tests Putin's rule)
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