Russia to Lose $55 Billion Due to Oil Prices Collapse
Russia is working on a "stress" scenario under the main directions of the monetary policy, which involves a sharp decline in oil prices.
Head of the Central Bank of the Russian Federation Elvira Nabiullina stated this at today's meeting of the government, Censor.NET reports citing Interfax-Russia.
"We are considering the inclusion of this scenario into the document at the next stage of finalizing the draft guidelines project," she said.
Recall that the price of Russian Urals oil dropped by $17 in the third quarter compared to the second quarter, from $110 to $93 per barrel.
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According to the Russian Federation Ministry of Finance, the decline of the price for $17 means a reduction in exports to $ 55 billion in annual terms. Earlier, the Ministry of Finance has repeatedly stated that it is necessary to move in the direction of lower oil prices, at which the budget will be balanced, in terms of a long-term budget balance.
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