Read previewVladimir Putin's claims that Russia's economy is doing just fine may soon be hard to back up. That's mainly because Russia is losing two things its economy desperately needs, he told Business Insider — a robust energy trade and a steady flow of US dollars. Moscow's economy is extremely dependent on petrodollars, or dollars obtained through the oil and gas trade, Gorodnichenko said. AdvertisementThat could put Russia's economy on the fast track to a recession in the next 12 months, Gorodnichenko predicted. Withering energy empireThe energy trade is Russia's biggest money maker.

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Persons: —, Vladimir Putin's, Yuriy Gorodnichenko, Gorodnichenko, Putin, Gorodnichkeno Organizations: Service, UC Berkeley, Business, Kremlin, Bank for International Settlements, Soviet Union Locations: Russia, Ukraine, Soviet, Soviet Union, China