Russia to host 2018 FIFA World Cup at highest level — MutkoSport October 22, 2:12
Wolf chosen as mascot of 2018 FIFA World Cup in RussiaSport October 22, 2:00
Warming in Russian-British relations not in sight over short term, says expertRussian Politics & Diplomacy October 22, 1:38
Ceasefire agreements signed with 15 more Syrian settlements — Russian Defense MinistryWorld October 22, 0:39
Russian State Duma speaker confirms readiness to meet PACE presidentRussian Politics & Diplomacy October 22, 0:15
Ukraine’s new anti-Russian sanctions to take effect on October 31World October 21, 21:22
Kremlin says Egypt’s rumored sale of Mistrals for $1 is ‘utter nonsense’Russian Politics & Diplomacy October 21, 21:13
Source: Mi-8 helicopter with 22 people onboard makes crash landing in YamalSociety & Culture October 21, 20:15
Source says 'Gray money' tax may cover up to 5 mln RussiansBusiness & Economy October 21, 20:07
MOSCOW, October 1. /TASS/. A world oil price plunge to $60 per barrel is an unlikely scenario, Russian Finance Minister Anton Siluanov said on Wednesday.
“We believe this is unlikely,” the finance minister said, adding the budget of Saudi Arabia, a major oil exporter, was balanced at the oil price of $80-85 per barrel.
The Russian finance minister said the ministry has not examined a stress scenario of an oil plunge to $60 per barrel.
“We had a stress scenario of $80 per barrel,” Siluanov said.
The Russian government has mapped out a number of measures, if world oil prices fall sharply, the finance minister said.
“In this case, we plan to use the unallocated reserve in the budget. It totals 70 billion rubles [$1.7 billion at the current exchange rate] so far but we hope to increase it by 100 billion rubles [$2.5 billion],” the finance minister said.
“Second, this is the right to spend 500 billion rubles [$12.7 billion] from the Reserve Fund,” Siluanov said.
The Russian Finance Ministry’s measures will depend “on changes in the macro-economic situation,” Siluanov said.