Meiji Japan and post-Soviet Russia · TURNING POINT ·
Oil price collapse (1985–86)
On the Meiji Japan and post-Soviet Russia map as “The oil price falls”
1985–1986 — World oil prices fall by more than half in a year. Earnings from West Siberia’s fields collapse just as the anti-alcohol campaign cuts vodka revenue, and the Soviet budget slides into a deficit covered by printing money.
- When
- Type
- Turning point
- Chapter
- Perestroika and glasnost (chapter 8 of Meiji Japan and post-Soviet Russia)
- Atlas
- Remaking the State: Meiji Japan 1600–1912 and Post-Soviet Russia 1964–2000
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