Russian government presents Putin with $21 billion plan to tackle crisis

January 21, 2015 2:56 PM

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Russian government presents Putin with $21 billion plan to tackle crisis

MOSCOW (Reuters) - Russian ministers presented President Vladimir Putin with a 1.375 trillion rouble ($21 billion) anti-crisis plan on Wednesday, including 250 billion roubles from the National Wealth fund to help recapitalize state banks.

Russia's economy is sliding towards recession, hurt by a collapse in global oil prices, Western sanctions over the Ukraine crisis and a failure to address the country's long-term dependence on commodities exports.

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