August 31, 2015 - Due to U.S. and other western countries sanctions
imposed on Russia
for its involvement in
Ukraine's civil war,
economy has fallen to the degree that it is in a
full blown recession and many economist believe
that the Russian economy is in even worse shape
that what it appears.
With the drop in recent oil prices and with the
prospect that the Obama administration will get
the support they need from congress to approve
deal will allow
to sell its oil further hurting the Russian
As a result of the Russian economy, air
passenger travel has fallen dramatically.
Transaero Airlines, Russia's second largest airline has in counted
debt of over $100 million (U.S.)
due to loss of passenger travel and paying on
loans in which the company borrowed money to
expand its fleet.