As you are probably aware, the U.S. Central Bank cut interest rates by a half percentage point with every indication it will not stop there. What is some macro affects upon the Russian economy you ask? Well, firstly, it improves the attractiveness of Ruble denominated bonds, due to interest rate cuts the dollar will hasten in its fall from grace. Secondly, because oil is priced in dollars, the price of oil and other commodities should increase even without considering supply or disruption concerns. Lastly, the general mood for risk taking should improve in regards to emerging markets, of which Russia is one.