Russia and Kazakhstan will be able to adapt to the low oil prices, Russian President Vladimir Putin said at a press-conference on Dec. 18.
“Of course, we will successfully overcome this situation with low oil prices,” the president said. “Our economies, anyhow, will adjust to low oil prices.”
The president said that it will be easier to do by making joint efforts as part of the Eurasian Economic Union.
“It is easier to do this together by giving an area of freedom for goods, labor and capital,” the president said.
He also said that the trade turnover between Russia and Kazakhstan increased by 50 percent during the Customs Union.