Moscow disappointed over new US sanctions against Russian companies - Foreign MinistryRussian Politics & Diplomacy March 26, 1:28
US sanctions 8 Russian companies over non-proliferation lawWorld March 25, 21:53
Russia's Defense Ministry says US-led coalition unlikely to launch battle for Raqqa soonRussian Politics & Diplomacy March 25, 19:06
Russia cuts oil production by 185,000 barrels per day as of today — energy ministerBusiness & Economy March 25, 18:30
OPEC has no objections to speed of Russia's oil production cutsBusiness & Economy March 25, 12:38
Opposition leader Vladimir Neklyayev detained in Belarus - news agency directorWorld March 25, 5:33
Russia submits amicus curiae brief to US Supreme CourtRussian Politics & Diplomacy March 25, 3:34
Russia, China suggest for UN SC to adopt resolution on chemical terrorism threatRussian Politics & Diplomacy March 25, 3:23
Russian lawmaker compares European Union to Soviet UnionRussian Politics & Diplomacy March 25, 3:16
MOSCOW, July 2. /TASS/. The replenishment of Russia’s Reserve Fund after 2018 will have an impact on the national monetary policy and prevent the ruble’s excessive strengthening, Finance Minister Anton Siluanov told reporters on Thursday.
He added it will also have a positive impact on competiveness of national products.
"When we speak about the Reserve Fund replenishment, this implies not only reserve formation but also a macroeconomic effect of the surplus of currencies the government buys in order to ameliorate the exchage rate and its policy," the minister said.
He said before 2014 the ruble kept on strengthening which had a negative effect on competitiveness of Russian products.
"That is why the creation of reserves and the use of surplus oil and gas revenues in reserves is a macroeconomic component which won’t let the [ruble] rate strengthen," he said.