Agreement on bases in Syria to serve strengthening of stability in Middle East — MPRussian Politics & Diplomacy January 20, 21:18
Trump's inaugural address: When America is united, America is totally unstoppableWorld January 20, 20:57
Hermitage chief: New Palmyra destruction comes across as militants' vengeanceRussian Politics & Diplomacy January 20, 20:29
Russia's first deputy PM wants to keep current tax system for next political cycleBusiness & Economy January 20, 19:53
Russia’s Shipulin clinches gold in 20km individual race of IBU World Cup stage in ItalySport January 20, 19:18
Prominent Russian adventurer Konyukhov to take samples from Mariana Trench floorSociety & Culture January 20, 19:15
Gazprom CEO says North Stream-2 pipeline proves relevanceBusiness & Economy January 20, 19:10
More survivors found in avalanche-hit Italian hotel — mediaWorld January 20, 18:48
Donald Trump takes office as 45th US PresidentWorld January 20, 18:21
“What happened for the economy? We lose at least $40 billion a year due to the political sanctions and at least $90-100 billion annually due to oil prices fall by 30%,” he said.
Oil prices have fallen sharply in the recent months. In an exclusive interview with TASS Russian President Vladimir Putin said the drop in oil prices has several reasons. Firstly, he said, the supply has increased because Saudi Arabia, Libya and Iraq have increased oil production. Islamic State militants are illegally selling cheap oil ($30 per barrel) which also affects the price, he said. Meanwhile, consumption has contracted due to stagnation.
The West, inspired by the United States, subjected Russian officials and companies to the first batch of sanctions, including visa bans and asset freezes, after Russia incorporated Crimea in mid-March after a coup in Ukraine in February.
New, sectoral, penalties against Russia were announced in late July over Moscow’s position on Ukrainian events, in particular, what the West claimed was Russia’s alleged involvement in hostilities in Ukraine’s embattled east.
Russia responded with imposing on August 6 a one-year ban on imports of beef, pork, poultry, fish, cheeses, fruit, vegetables and dairy products from Australia, Canada, the EU, the United States and Norway.
Moscow has repeatedly dismissed Western allegations that it could in any way be involved in hostilities in the east of Ukraine.