That question has become paramount this week as plunging oil prices and the skidding ruble have wreaked havoc on the Russian economy, creating major worries in global markets.
The Central Bank of Russia has hiked interest rates to 17% to try and stem the free-fall in the ruble, which has lost roughly 50% of its value this year. But the move did little, as the ruble plunged another 16% on Tuesday, hitting a new low of 72 rubles to the USD before recovering modestly.
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If oil continues to average $60 or so a barrel throughout 2015, the Central Bank of Russia has prognosticated GDP may fall by 4.5% in the coming year. Seeing as about half of Russia's revenue is derived from taxes on its oil and gas industries, this fall comes as little surprise for a country that John McCain (Senator from Arizona) once derided as "a gas station masquerading as a country."
Investors need to know how much exposure they carry to this hemorrhaging bear; the following companies have material exposure to the Russian economy or stand to suffer if Russian relations with the West worsen:
General Electric (GE) : The industrial conglomerate has annual revenue of more than $1 billion derived from Russian operations largely from sales in the oil and gas industry, aero-engines and power generation. While $1 billion isn't a significant amount for the company's aggregate revenue, it is an unwelcome sight for a business that has seen revenue experience a steady decline for the last five years.