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 Russia Will Not Be Able to Replenish Reserve Fund Through Cheap Oil

нефть иран ирак инцидент скважина

The Russian Federation will not be able to refill the Reserve Fund in 2014 due to declining oil prices.

Finance Minister Anton Siluanov stated this, Censor.NET reports citing Reuters. "If the price situation will be the same as it is now, there will probably be no possibility to refill the Reserve Fund. Initially, a month ago, we had estimations of about 200 billion rubles, but under the conditions of oil price decrease and the external environment deterioration, it may not probably happen," he said.

Read also: Russia to Lose $55 Billion Due to Oil Prices Collapse

Currently, the price of Urals oil, indicative for Russia, is around $ 90 per barrel. There were 3.5 trillion rubles in the Reserve Fund as of October 1, 2014. Earlier Censor.NET reported that world oil prices continue to fall: Brent declined to $ 91.66 a barrel.

Read also: Russian Central Bank Spends a Billion USD to Defend Rouble on October 3

 
 
 
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