Russia is preparing for a “catastrophic” slump in oil prices, which it can weather thanks to a cushion of more than $400 billion in reserves, President Vladimir Putin said. “We’re considering all the scenarios, including the so-called catastrophic fall of prices for energy resources, which is entirely possible, and we admit it,” Putin said in an interview with the state-run Tass news service before attending this weekend’s Group of 20 summit in Brisbane , Australia , according to a transcript e-mailed by the Kremlin today. Russia, whose economy is forecast by the central bank to run zero growth next year, is struggling under the weight of a plummeting ruble and sanctions imposed over the conflict in Ukraine. Brent crude , the grade that underpins prices for Urals, Russia’s main export blend, is set for a record losing streak amid speculation that OPEC will refrain from cutting production to ease […]