Russia will never break its dependence on oil

REUTERS/Sergei Karpukhin Russia's economy is in clear need of diversification as it climbs out of a recession Wages and consumer spending are on the rise, but high oil prices will tempt the country to place more emphasis on oil. Despite improving oil prices, Russia’s economic growth is slowing, with GDP rise for the third quarter at 1.8 percent on an annual basis, versus 2.5 percent for the second quarter, Russia’s state statistical bureau, Rosstat, said earlier this week. Analysts say it’...