and is expected to continue for 30 years at an ultimate cost to China of $400bn. The ongoing financial crisis began in the second half of 2014 when the Russian ruble collapsed due to a decline in the price of oil and international sanctions against Russia. These events in turn led to loss of investor confidence and capital flight, though it has also been argued that the sanctions had little to no effect on Russia's economy. In 2014, the Organized Crime and Corruption Reporting Project named Putin their Person of the Year for furthering corruption and organized crime. According to Meduza, Putin has since 2007 predicted on a number of occasions that Russia will become one of the world's five largest economies. In 2013, he said Russia was one of the five biggest economies in terms of gross domestic product but still lagged behind other countries on indicators such as labour productivity. Environmental policy In 2004, Putin signed the Kyoto Protocol treaty designed to reduce greenhouse gas emissions. However, Russia did not face mandatory cuts, because the Kyoto Protocol limits emissions to a percentage increase or decrease from 1990 levels and Russia's greenhouse-gas emissions fell well below the 1990 baseline due to a drop in economic output after the breakup of the Soviet Union. Religious policy Putin regularly attends the most important services of the Russian Orthodox Church on the main holy days, and has established a good relationship with Patriarchs of the Russian Church, the late Alexy II of Moscow and the current Kirill of Moscow. As president, Putin took an active personal part in promoting the Act of Canonical Communion with the Moscow Patriarchate, signed 17 May 2007, which restored relations between the Moscow-based Russian Orthodox Church and the Russian Orthodox Church Outside Russia after the 80-year schism. Under Putin, the Hasidic Federation of Jewish Communities of Russia became increasingly influential within the Jewish community, partly due to the influence of Federation-supporting businessmen mediated through their alliances with Putin, notably Lev Leviev and Roman Abramovich. According to the Jewish Telegraphic Agency, Putin is popular amongst the Russian Jewish community, who see him as a force for stability. Russia's chief rabbi, Berel Lazar, said Putin "paid great attention to the needs of our community and related to us with a deep respect". In 2016, Ronald S. Lauder, the president of the World Jewish Congress, also praised Putin for making