Putin in trouble as ‘fed up’ country to hit Russian economy | World | News [Video]

Russia‘s ability to fund its invasion of Ukraine could take a huge hit as Saudi Arabia continues to increase its oil output.

Riyadh has indicated that oil prices could drop to $50 (£38.30) a barrel at a time when Russia is reliant on oil sales to keep its economy afloat.

Luke Cooper, a research fellow at the London School of Economics, wrote for IPS Journal: “With Russia already selling its oil at discounted rates and with higher production costs, a low-price environment in oil markets may impact its ability to finance its aggression in Ukraine.”

The expert added that Russia is “poorly equipped to deal with low-price conditions.”

Saudi Arabia has previously aimed for crude prices to stay above $100 (£76.61), and even urged other OPEC member states to cut their output.

Simon Henderson, director of the Bernstein Program on Gulf and Energy Policy at The Washington Institute, told Business Insider: “Saudi Arabia is fed up. Leadership …