{{dayPoint.date | date : 'd MMMM yyyy'}}

{{newsPoint.title}}

{{newsPoint.title+ ' '}}

{{newsPoint.subtitle}}

Average oil price to be over $30 per barrel in 2016 — Russian minister

According to Russian Economic Development Minister Alexey Ulyukayev, global oil prices have recovery potential

Russian Economic Development Minister Alexey Ulyukayev Stanislav Krasilnikov/TASS Archive

Russian Economic Development Minister Alexey Ulyukayev

© Stanislav Krasilnikov/TASS Archive

Read also

Average annual oil price to be at least $30 per barrel — Sberbank CEO

MOSCOW, January 25. /TASS/. Global oil prices have recovery potential, Russia’s Economic Development Minister Alexey Ulyukayev said on Monday.

"As for oil prices I agree that they have recovery potential. It’s a given that in 2015 the demand increased by around 1.5 mln barrels. The global economy grew by 3%, which means the demand will rise for sure," the minister said.

According to Ulyukayev, the average annual oil price will be higher than $30 per barrel in 2016.

"I think there will be some kind of rebalancing. Average annual oil price will differ from today’s, it will be higher," the minister said.

Russia’s Economic Development Minister does not expect the Central Bank to change the key interest rate at its board meeting on January 29.

Read also

"I don’t expect them to change anything," the minister said on Monday when answering the respective question.

Earlier he said there is potential for reduction of the key rate though the regulator is to take the final decision.

In mid-2015, Russia’s Central Bank took a break after lowering the key rate (the rate of weekly repo) several times in a row. Currently, the key rate is 1%. At the same time the regulator gave a signal to the market that it would further cut the key rate at one of its next 3 meetings. The next meeting of its board of directors will be held on January 29.

All the rates in the economy, including rates on loans given to small and medium-sized businesses, depend on the key rate set by the Central Bank.

In Alexey Ulyukayev's words, Russia’s downward GDP trend did not persist in December 2015, according to preliminary estimates.

"I don’t think the trend [of GDP contraction] will hold, according to my expectations. I don’t expect December [results] to worsen compared with November," the minister said.

Earlier he said Russia’s GDP contraction equaled 3.9% in 2015. According to the latest forecast by the Economic Development Ministry, contraction stood at around 3.7-3.8% throughout the year.

Also, the minister said that lack of investment and production capacities hindered economic growth amid the ruble’s devaluation. "The problem is that cost improvement triggers growth provided that there is a great deal of production capacities in place or one may quickly invest in them. Currently, we don’t have a great deal of production capacities unlike previous years while on the other hand we don’t invest enough, unfortunately," he said.

Currently, the ministry reviews its estimates for 2016.

Tags

Central Bank of Russia Alexey Ulyukayev GDP Oil price

Russian LNG exports to China rise by 2% in first quarter of 2024 — Chinese customs

Russia was the fourth largest LNG supplier to China after Australia (6.3 mln tons)

Press review: Biden backs aid to Israel, Ukraine and Russia assets giving West legal fits

Top stories from the Russian press on Friday, April 19th

Switzerland does not suit Russia for negotiations on Ukraine — Lavrov

The Foreign Minister pointed to the fact that Switzerland is on board with all Western sanctions

West close to sending military to Ukraine, this would 'drag Europe to bottom' — Orban

"This military whirlpool can drag Europe to the bottom. Brussels is playing with fire and angering God," the Hungarian prime minister said

French president says creating Israeli-type air defense network for Ukraine impossible

Emmanuel Macron added that Europe’s resources are limited, and the European Union will continue helping Kiev keeping in mind its own reserves

Court arrests another man accused of blowing up car of former SBU officer in Moscow

Ivan Paskar is charged with illegally transporting explosive substances, but he does not recognize his guilt

Israeli troops continue raids in West Bank — TV

According to Al Jazeera, Israeli security forces have killed at least five people over the past 24 hours

Israeli aviation strikes towns in Gaza Strip

According to Al Jazeera, air strikes hit the towns of Deir al Balah and Rafah

Major Western investor accuses Zelensky's office of extorting millions of euros

Arnulf Damerau said that he provided details of the meeting, along with evidence and a list of names of those involved, to US and European intelligence agencies

Russian Cabinet expands list of perfumery, cosmetic products subjected to import duty

"The effect of the customs duty totaling 35%, renewed in December 203 in respected of imported perfumery, cosmetics and home care products will cover certain new positions of these products from unfriendly countries," the ministry said

Iran has no plans to immediately retaliate to attack on its soil — agency

"We have not received any external attack, and the discussion leans more towards infiltration than attack," a senior Iranian official reported

Russia can join top three countries by lithium reserves — governor

Infrastructure is required to implement the investment project, both power transmission lines and the railroad, Andrey Chibis noted

Two people killed in borderline Belgorod Region in Ukrainian drone attack — governor

According to Governor Vyacheslav Gladkov, a private residence in the village of Poroz caught fire when the unmanned aerial vehicles dropped two explosive devices

Iran may target Israeli nuclear center in Dimona in case of Israel’s attack — TV

Ahmad Haghtalab said on April 18 that Tehran has identified the location of Israel's "nuclear centers" and will be ready to destroy them in case the Jewish state responds to the recent Iranian attack on Israeli military facilities

Swiss parliament votes against joining task force on frozen Russian assets

The group contains US finance and justice ministers, representatives of Australia, the UK, Germany, Italy, Canada, France, Japan, as well as the European Commission

Armenia has to define CSTO’s zone of responsibility on its territory, says Lavrov

On March 12, Armenian Prime Minister Nikol Pashinyan stated that Yerevan asked its CSTO partners to answer where the CSTO's zone of responsibility in the republic was

Polish premier refuses to hand over his country’s Patriot systems to Ukraine

Donald Tusk said that German Chancellor’s call to send more air defense systems to Kiev had no relation to Poland, provided the country's geographical position near the frontline

Global economy’s condition improving — Russian Deputy PM

The process is largely driven by increasing contribution of developing countries, Alexey Overchuk said

West wants to make Transnistria hotbed of tension — Lavrov

According to the top Russian diplomat, the leaders who rule countries where they claim to be from while holding foreign passports "will not enjoy support and authority for long"

About 30 events in 26 countries to be held as part of Russian Film Festival — minister

The geography of work in the culture sphere was wider before but "all the horizontal ties are kept," Olga Lyubimova noted

US agrees to withdraw troops from Niger — Washington Post

The decision was sealed in a meeting between US Deputy Secretary of State Kurt Campbell and Niger’s prime minister, Ali Lamine Zeine

Number of flooded residential buildings in Russia drops to 16,200

According to the official, flood waters receded from 1,117 homes and households in the Urals region of Orenburg in the past day, which is the highest number recorded in the flooded regions

Ukrainians abroad storming embassies to avoid mobilization, Russian diplomat says

On Tuesday, Ukrainian President Vladimir Zelensky signed the mobilization law passed by the Verkhovna Rada (parliament) in the second and final reading on April 11

Russian economy proves resilience amid large-scale sanctions — IMF

The IMF states that the restrictions led to the need to rebuild the economy

Russia won’t allow NATO to move closer in Ukraine — Lavrov

There is still no full clarity regarding the future of Ukraine's western regions, the Russian foreign minister went on to say

Russian government increases customs duties on beer from unfriendly countries

This measure is not a prohibitive one and will make it possible to make competitive conditions equal for Russian producers, the ministry said

Sites for practicing ways to counter drones to be set up at all Russian testing grounds

Defense Minister Sergey Shoigu has visited a testing ground in the Moscow Military District where new models of small arms developed with the participation of snipers who carried out missions in the special military operation zone were presented

World’s anti-doping agency WADA still waits for Russia’s 2023 financial contribution

Russian Sports Minister Oleg Matytsin said in February that the Russian side had agreed with WADA to pay the membership fee for the year of 2023

Participation in ‘Columbine’ movement may result in life sentence — Prosecutor General

Earlier, the "Columbine" movement was recognized a terror group

Putin signs law on holding World Friendship Games

Funding will be provided from the federal, regional and local budgets, as well as taxes from gambling transferred to the organizer

CIA chief says Ukraine could lose by end of this year — Politico

William Burns said "there is a very real risk that the Ukrainians could at least put Putin in a position where he could essentially dictate the terms of a political settlement"

US volunteer Russel Bentley missing in Donetsk killed — RT editor-in-chief

Bentley came to Donbass from the United States in 2014

American Abrams tanks vulnerable even to Soviet-era weapons, says expert

US President Joe Biden announced on January 25 that Washington would hand over 31 M1 Abrams tanks to the Kiev regime

BRICS looking at creating common digital payment platform

Russian Deputy Foreign Minister Sergey Ryabkov said that BRICS nations have already established a special channel for information exchange between their central banks

KazMunayGas, Sibur, Sinopec sign protocol on plant construction in Kazakhstan

Construction of the plant in the Atyrau region is planned to be completed by 2029

G7 leaders to decide on Russian assets use — Italian Deputy PM

Recommendations on opportunities of using frozen Russian assets in interests of Ukraine will be presented before the G7 summit in June 2024

Lavrov labels way West ramping up sanctions against Russia as mindless

According to the foreign minister, Russia has decided not to depend on the West in all spheres, including those in which it can limit the country's development

Lavrov says Borrell let it slip that Europe ‘fighting against Russia’

Russia’s top diplomat noted that Josep Borrell may made the statement in a moment of weakness

Russia’s advanced radar in Kaliningrad to monitor entire territory of Europe — source

The first Konteiner radar went on combat duty in the Volga area region of Mordovia on December 1, 2019

Ukrainian drones continue to fly over Zaporozhye NPP — press service

On April 19, the Ukrainian military attacked the training center of Zaporozhye NPP again, but the drone was neutralized over the roof of the building

US-led coalition’s aircraft violate Syrian airspace 13 times in past day

Two shelling attacks on the positions of Syrian government army by the Jabhat al-Nusra groups were reported in the Idlib de-escalation zone

Armenia’s relations with Russia not at their highest — top diplomat

Ararat Mirzoyan also said that Yerevan is currently making efforts to expand cooperation with the European Union and the United States

Russia ready for Ukraine talks, but not with Zelensky — Lavrov

The first negotiations between Russia and Ukraine after the start of the special military operation took place in early March 2022 in Belarus, but they did not bring tangible results

Izvestia correspondent Semyon Eremin killed in special operation zone

The tragedy occurred near the village of Priyutnoye located on the border of the Donetsk People’s Republic and the Zaporozhye Region

No foreign state attacks Iran — TV

Earlier, the media reported, citing a US official, that Israel had launched a missile strike on a site in Iranian territory

US House passes procedural vote on Ukraine aid bill

It cannot be ruled out that the House of Representatives may pass this package as early as Saturday

North Korea conducts new anti-aircraft missile test — KCNA

A power test of a super-large warhead designed for "Hwasal-1 Ra-3" strategic cruise missile was held as well

Lavrov speaks of West’s agony, Russia’s approach to any future talks with Kiev

The Russian foreign minister also described Armenia and Russia as more than formal allies

Ukrainian POW exposes poor battlefield performance of NATO-supplied Javelins, NLAWs

He also revealed that some weapon batches contained anti-armor systems whose service life had expired

Kiev ordered mandatory evacuation from Kharkov Region to accommodate mercenaries

Evacuation campaigns are regularly organized by the Kiev government, under the pretext of security issues

Grossi ignores ‘elephant in the room’ in Zaporozhye nuke plant situation — Russian envoy

Dmitry Polyansky noted that the IAEA chief is being very cautious about the issue of attacks on the nuclear facility

Russia's revenues from oil exports remain high despite price ceiling — IMF

Earlier in its report on the development of the world economy, the IMF noted that Russian oil is sold on the world market mainly above the price ceiling that the West tried to set

Ukraine’s military loses positions near Avdeyevka, says DPR

Igor Kimakovsky said that Ukrainian forces suffered heavy casualties among personnel and military hardware, including Western equipment

Russian military base may appear in CAR’s eastern region — President Touadera

According to the president, this step will help strengthen his country’s defense potential and contribute to bolstering the national armed forces’ capabilities

Russia delivers 34 strikes on Ukrainian military infrastructure over week — top brass

The Ukrainian army lost more than 3,550 troops, four tanks and five armored combat vehicles in battles with Russian forces in the Donetsk area over the past week, the ministry reported

Russia’s defense chief inspects production of tanks, flamethrowers at Siberian enterprise

Sergey Shoigu handed down an instruction for the defense enterprise to ramp up the production of T-80BVM tanks, the Defense Ministry said

Russia has significant amount of West’s funds in case of confiscation of its assets

Russia views the West’s encroachment on its assets as "a blatant and shameless theft for the purpose of lining its pockets," Maria Zakharova noted

Shoigu orders additional tank protection sets for Ukraine operation

The minister also inspected the training process in Omsk Armor Engineering Institute

Hungarians in western Ukraine should get their rights back, Budapest says

"The Hungarian community’s opportunities to use its native language in the fields of education, culture, media and self-governance have been significantly limited," Foreign Minister Peter Szijjarto specified

S-500 system to be supplied to Armed Forces after 2015

Victor Gumenny said the advanced systems may solve the tasks of air-space defence and may fight hypersonic weapons

Russian stock indices rising on Friday

The MOEX Russia Index edged up by 0.44%, the RTS Index surged by 1.13%

NATO discussing transfer of ‘deep precision strike capabilities’ to Ukraine — Stoltenberg

Stoltenberg said NATO believes Ukraine has the right to strike "legitimate military targets" inside Russia

Russian industrial producers’ prices up 2.4% in March — statistics

In chemicals production, prices edged up by 26.8% for ethers, organic peroxides, epoxides, acetals and semiacetals and their derivatives

Russia knows French military instructors working in Ukraine — Lavrov

At the same time, the top Russian diplomat pointed out that "there is information that not only French mercenaries, but also instructors, maybe even together, but along with some other representatives of military and special services of European countries are working there [in Ukraine]"

US gives nod to Israeli operation in Rafah in exchange for canceling major attack on Iran

According to the media outlet, "the US administration will support the plan for a military operation in Rafah put forward earlier," which provides for dividing the city into numbered sectors that will be mopped up one by one

Unidentified man attempts suicide outside courthouse where Trump trial is underway

The man set himself on fire

Security guarantees on Ukraine did not apply to Crimea, Donbass — Lavrov

The Russian Foreign Minister noted that "Ukrainian negotiators came and said that, for example, on the issue of maneuvers with the participation of third countries, let's replace the wording 'if all guarantor countries agree' with 'unless the majority agrees'"

US 'not forgetting' to help itself with aid to Ukraine — Kremlin

"In any case, whatever the modality of providing this aid, de facto it is about provoking Ukraine into further hostilities down to the last Ukrainian, putting guarantted money in the pockets of the US," Dmitry Peskov said

Proposals on Russian assets confiscation undermine financial system — Finance Minister

Russia urges the International Monetary Fund to resume the effort of improving the global monetary and financial system, Anton Siluanov noted

Russian defense chief checks implementation of orders to develop drones

All the presented drones and payload were created from domestic composite materials and elements

North Korean leader arrives at public event in Aurus luxury car gifted by Putin

On April 10, the vehicle was also spotted when the North Korean leader visited Kim Jong Il Military and Political Academy

Kiev lacks both troops and equipment near Chasov Yar in DPR, says retired general

Military commanders of Ukrainian army brigades "lack both personnel and the required amount of equipment" while Russian troops enjoy a considerable superiority, especially in artillery, Sergey Krivonos noted

Water level of Ishim River in Russia’s Tyumen Region surpasses dangerous mark

It has reached 911 centimeters

Three Ukrainian soldiers swim across Dnieper to surrender to Russian troops — governor

Vladimir Saldo called on other Ukrainian servicemen to switch to the Russian side and request the corresponding assistance

BRICS’ expansion makes it much stronger — senior Russian diplomat

Egypt, Iran, the United Arab Emirates, Saudi Arabia, and Ethiopia, became full-fledged members of BRICS from January 1, 2024

Ukrainian trace obvious in Crocus City Hall attack — Russian prosecutor general

The law enforcement employees exert efforts to identify the instigators of this crime, Igor Krasnov said

Kremlin declines to comment on alleged assassination attempt on Zelensky in Poland

The Security Service of Ukraine announced earlier that in a joint operation with law enforcement agencies in Ukraine and Poland it thwarted an attempt to assassinate Ukrainian President Vladimir Zelensky

FACTBOX: Collective Security Treaty Organization

The Collective Security Treaty came into force on April 20, 1994 to herald the emergence what would eventually become the Collective Security Treaty Organization. The six member-countries are Russia, Armenia, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan

Ukrainian drone damages energy infrastructure in Russia’s Kaluga Region

There are no casualties, Governor Vladislav Shapsha said

Senior Chinese official to take part in conference on security in Russia — diplomat

The conference will take place from April 23 to 25 in St. Petersburg

Drones downed over Isfahan cause no damage, says Iranian foreign minister

It is reported that several drones had been intercepted by the national air defense forces over Isfahan

Two pilots of jet that crashed in southern Russia hospitalized

The plane crashed in a field in the Krasnogvardeysky district of southern Russia’s Stavropol Region

West can’t comprehend Russia’s resilience — Lavrov

"They would have been scared had anyone come down on them with similar ferocity," the Russian foreign minister added

Ukraine’s new ethnic minorities law insufficient to protect Magyars — Hungarian president

According to Katalin Novak, Hungary’s call for the rights of the Hungarian minority in Transcarpathia to be respected should be viewed as a common European demand

Russian investigators start inquiry into financing of terrorism by US, NATO officials

Investigators have established that the funds that were received through commercial organizations, such as the oil and gas company Burisma Holdings operating in Ukraine, have been used to carry out terrorist acts in Russia and abroad

Russian economy positively influences neighboring countries — Deputy PM

In 2023 the Russian economy has demonstrated remarkable resilience and growth, Alexey Overchuk said

Russian forces destroy Ukrainian command post, two S-300 missile launchers over day

Russian forces improved their frontline positions and repelled a Ukrainian army counterattack in the Donetsk area where the enemy lost roughly 590 troops over the past day, the ministry reported

Russian military closely monitors all Ukrainian 'novelties' — Kremlin on UAVs

Earlier, it was reported that Ukraine had developed a UAV with a range of up to 3,000 kilometers

Russian instructors help train over 10,000 Central African troops — CAR president

According to Faustin-Archange Touadera, since becoming the president, his actions have been guided by the need "to modernize the army and take into account new challenges"

Blast rocks military base south of Baghdad — Reuters

According to the news agency, one PMF fighter was killed and six were wounded

Iran threatens to attack Israel's "nuclear centers" in case of aggression on its part

Ahmad Haqtalab argued that Israel had been conducting "subversive and terrorist activities" against the Islamic republic's nuclear infrastructure for year

Founder of neo-Nazi cell in Crimea flees to Georgia — source

According to the official, the investigation established that Mikhail Maurov planned to travel to Ukraine to join the ranks of a right-wing Ukrainian organization called the Freedom of Russia Legion

Nearly half of those present in UN Security Council hall walk out before Israel’s address

israeli Permanent Representative Gilad Erdan was to address the council after Palestinian envoy Riyad Mansour

No plans for pauses in fighting if talks on Ukraine begin, Lavrov says

The Russian foreign minister emphasized that the situation on the ground had changed significantly

French, US, British nukes all interwoven — Russian diplomat

Maria Zakharova described France’s decision to place its aircraft carrier, the Charles de Gaulle, directly under NATO control as a symbolic move marking the end of "the era of an independent Paris in the international arena"

China’s Russian oil imports rise by 13% in first quarter of 2024 — customs

In monetary terms, Russian oil exports to China increased by 17.9% to $13.858 bln in the first quarter of the year

Russia not to go for settlement on Ukraine based on 'Zelensky formula' — Lavrov

The top Russian diplomat referred to a swindling trick used by a thimblerigger who puts a small round object, such as a ball or pea, under one of three thimbles or cups and asks the player to guess under which the object is, while unfairly manipulating this object

UN secretary general urges Azerbaijan, Armenia to normalize relations

Stephane Dujarric noted that the secretary general "encourages the parties to continue the delimitation and demarcation of the remaining sections of the border and tackle all outstanding bilateral issues toward achieving full normalization of relations."

One crew member of jet crashed in Stavropol Region killed, search for another continues

According to the Russian Defense Ministry, an Aerospace Forces’ Tu-22M3 bomber crashed after completing a combat mission while returning to the airfield

Moscow International Film Festival kicks off

MIFF President Nikita Mikhalkov, a celebrated Russian film director, declared the festival open, praising the bravery of foreign cultural figures who are visiting Russia at this time

Air defenses repel Ukrainian drone attack in Russia’s Smolensk Region — governor

Vasily Anokhin urged local residents to remain calm and refrain from filming air defenses in operation.