Russia current account Potential economic risks to Russia triggered by oil-price volatility in the aftermath of Iran’s nuclear accord will be mitigated by the ruble, according to Bank of America Corp. Though the country will ultimately be a “net-loser” of the deal, “further ruble weakness should continue to re-balance Russia’s current account and fiscal balances, which should help limit the negative impact on the broader economy,” Vladimir Osakovskiy, the chief Russia economist at Bank of America in Moscow, said in an e-mailed note. Iran and six world powers on Tuesday sealed a historic deal to curb the Islamic Republic’s nuclear program in return for ending sanctions. While Russia is set to suffer from Iran’s future supplies of energy resources to Europe, Moscow’s key export market, “ruble flexibility will continue to help absorb external shocks” and energy cooperation between the two countries could offset some of the negative impact, Bank […]