Monday, November 24, 2014

Russia to Lose Billions Over Sanctions, Falling Oil Prices

Russia's finance minister says Russia is on a course to lose more than $100 billion due to Western sanctions and falling oil prices.
Anton Siluanov said Monday at an economic forum in Moscow that Russia could lose as much as $40 billion per year because of Western sanctions. 

The United States and the European Union have imposed several rounds of sanctions against Russia for its role in the conflict in Ukraine. Russia denies involvement in hostilities in eastern Ukraine where pro-Russian forces are frequently involved in skirmishes against Ukrainian government troops, despite a cease-fire agreement.
Siluanov also said Russia could lose up to $100 billion annually because of low oil prices, which have fallen by 30 percent.
The Ria Novosti news agency says the Russian ruble has fallen about 23 percent against the U.S. dollar in the past three months as a result of the falling oil prices.
[VOA News]
24/11/14
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5 comments:

  1. Irán busca persuadir a Arabia Saudí a reducir producción del crudo, afirman medios iraníes ...

    Irán busca persuadir Arabia Saudí para reducir la producción del petróleo con el objetivo de frenar la caída de los precios, informaron los medios iraníes.

    El ministro de Petróleo de Irán, citado por la agencia de noticias iraní Mehr, afirmó que Teherán promueve la convergencia entre los miembros de la Organización de Países Exportadores de Petróleo (OPEP) y que cualquier diferencia entre ellos tendrá consecuencias negativas para los precios internacionales.

    El ministro de Petróleo de Irán se encontrará con su homólogo saudí en Viena el próximo 27 de noviembre en el marco de la reunión de la Organización de Países Exportadores de Petróleo (OPEP)....................http://sp.ria.ru/economy/20141124/163243284.html
    24/11/14

    ReplyDelete
  2. Oil prices are likely to continue to fall after hitting a four-year low last week, driven by slowing global growth and increased supply....

    Crude oil prices fell to $76.76 a barrel Nov. 14 before stabilizing this week to just shy of $80 per barrel. Prices have been falling since June after hitting the $116 per barrel mark.

    Robert Baron, a consultant with National Economic Research Associates, said that the move is fueled by “a combination of several factors” including increased U.S. oil production, a strengthening U.S. dollar, and lower expectations of growth in Asia.

    “I don’t know what is happening behind closed doors but all the factors in the crude market lead to lower prices and this is bigger than what the U.S. and Saudi Arabia can possibly dictate. I think the prices are just determined by market forces,” he said refuting speculation that the U.S. and Saudi are lowering prices in a punitive move against Russia and Iran.

    “So I think it is quite possible to see the prices go well into the low 70’s some time next year before the market tends to re-equilibrate by cutting back on production,” he added....................http://www.aa.com.tr/en/news/425787--experts-oil-prices-likely-to-fall-further
    25/11/14

    ReplyDelete
  3. Oil prices of $80 per barrel require no urgent measures — Russian energy minister ...

    Oil prices of about $80 per barrel will not require urgent measures, Bloomberg cited Russian Energy Minister Alexander Novak on Tuesday.

    Novak said representatives of Saudi Arabia, Mexico and Venezuela at a meeting in Vienna never said it was a critical price.

    Participants in an oil conference in Vienna have decided to monitor oil prices for a term of one year with possible quarterly consultations, Russia’s oil major Rosneft quoted its CEO, Igor Sechin, said on Tuesday after four-party talks involving Russia, Saudi Arabia, Venezuela and Mexico.

    Venezuelan Foreign Minister Rafael Ramirez said after the talks that participants in the meeting had agreed that the current oil prices were too low. In his words, oil prices should be at the level of $100. “It is a fair price,” he said, adding that Saudi Arabia and Venezuela, both members of the Organization of the Petroleum Exporting Countries (OPEC), had discussed possible production reduction with Russia and Mexico that are not members of that organization. “We agreed to maintain contacts and meet against in three months. The most important thing is what we say,” Ramirez said..............http://en.itar-tass.com/economy/763694
    25/11/14

    ReplyDelete
  4. Der Jahresdurchschnitts-Ölpreis in Höhe von 80 bis 90 US-Dollar pro Barrel wird laut dem russischen Finanzminister Anton Siluanow am wahrscheinlichsten langfristig erhalten bleiben....

    Die russische Regierung müsse den Haushalt für die nächsten Jahre, ausgehend vom Preis in Höhe von 80 US-Dollar, aufstellen.

    „Unsere Haushalts- und Wirtschaftspläne müssen auch, ausgehend von neuen makroökonomischen Bedingungen, erstellt werden, die sich unserer Ansicht nach nicht schnell verändern werden. Denn der neue Erdölpreis in Höhe von 80 bis 90 US-Dollar wird am wahrscheinlichsten mittel- und vielleicht auch langfristig erhalten bleiben“, sagte der Minister im Föderationsrat (Parlamentsoberhaus).

    „Deshalb müssen wir bei der Planung der Haushalte für neue Perioden davon ausgehen, welche Prognose für die Erdölpreise wir erwarten. Die Haupterdölexporteure planen und bilanzieren ihre Haushalte auch ausgehend vom Erdölpreis in Höhe von 75 bis 80 US-Dollar pro Barrel“, fügte der Finanzminister hinzu............http://de.ria.ru/business/20141126/270084754.html
    26/11/14

    ReplyDelete
  5. La Russie risque de perdre 18 mds EUR en 2015 (ministre) ...

    La Russie risque de perdre jusqu'à 1.000 milliards de roubles (18 mds EUR) en 2015 en raison de la baisse des prix du pétrole et du ralentissement de la croissance, a déclaré mercredi le ministre russe des Finances Anton Silouanov.

    "Nous avons bien sûr des risques pour l'année prochaine, liés notamment aux prix du pétrole. Si la situation actuelle persiste, nos pertes s'élèveront à environ 500 milliards de roubles", a fait savoir M.Silouanov intervenant devant les membres du Conseil de la Fédération (chambre haute du parlement russe).

    "Il existe également des risques liés au ralentissement de la croissance économique. Nous avons tablé sur 1,2%, mais il est probable que la croissance se situera autour de zéro. A cela s'ajoutent les risques associés aux importations. Au total, cela présente des risques supplémentaires pour 500 milliards de roubles de plus", a annoncé le ministre.
    http://fr.ria.ru/business/20141126/203077808.html
    26/11/14

    ReplyDelete

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