Russia’s Economy Suffers Double Hit From Oil Slump and Coronavirus

MOSCOW—Few Russian businesses have taken the hit from lower oil rates and coronavirus lockdowns as terribly as Rosgeologia, one particular of the most important exploration companies here.

At the commencing of the yr, it was eyeing about $four hundred million in new oil and gasoline contracts. But because then, those people tenders have been canceled or place off until rates recover, and the corporation is selling tens of millions of bucks in belongings to sustain its income circulation. Quarantine actions to stem one particular of the world’s major virus outbreaks could also disrupt its supply chains…