World, Society, Ukrainian Politics

 Oil Price Fell Below Estimated Figures in Russian Budget - Naftohaz Ukrayiny


The price of oil on the world market has decreased to a level lower than the target, which was the basis of the Russian Federation budget calculation for the year 2014.

Head of Naftohaz Ukrayiny Andrii Kobolyev claimed this, Censor.NET reports citing Interfax-Ukraine.

"As far as I understand the Russian budget, these figures (current oil prices) are already a bit lower than those they expected," he said in an interview to the 5th Channel on Thursday.

Kobolyev added that the lack of oil revenues may be offset by the reduction in imports to Russia. He, however, doubted such measures would be popular.

"The Russian Federation made a statement today about possible cancellation of vehicles import from the EU. I think this step may partially compensate for it (decreased oil prices), why not? Since you may not export oil and use cars of domestic production, this is a sort of a trade-off. The question is whether the society will take it. How far is the community willing to go? I'm not ready to take the gage of the Russian society, I hope that not very far," he concluded.

Brent oil price was reported to have declined to $96.72 per barrel in regular trading on September 11, the minimum level since July 2, 2012. Russian Urals oil is sold with some discount respective to Brent.

Read also: Oil Price Could Fall to $ 85 Per Barrel Within a Month or Two. This Is a Devastating Blow to Economy of Russia - Media

Источник: https://en.censor.net.ua/n302291