Putin Discusses Russia's Economy as Oil Revenue Falls

Russian President Vladimir Putin addressed the state of Russia's economy, noting growth in real wages. A top official described the economy as being in a state of 'overcooling.' Meanwhile, Russia's oil revenue has fallen as Urals crude dropped to $59, and Ukrainian strikes on refineries are fueling a global energy shock, according to the US Treasury chief. Russia said the drop in oil output is temporary as refineries restart, and a minister noted new partners for abandoned foreign car plants.