For how long Russia's reserves to be enough if oil prices drop?
Russia will have enough accumulated reserves in order to fulfill budgetary obligations for three years in case oil prices fall to $25-30 per barrel, Russian Minister of Finance Anton Siluanov said.
He noted that for Russia's budget and for oil companies oil prices of about $60-65 per barrel are naturally positive. "We see that the budget is also being implemented steadily, reserves are being filled. Therefore, of course, I would not want any stressful situations either in one direction or another," TASS cited him as saying.
However, according to Siluanov, there are risks of falling oil prices to $25-30 per barrel.
"Since oil prices are unlikely to increase dramatically, then if the restrictions on oil production are not reached with OPEC countries, there are, of course, risks that prices may drop to $25-30 per barrel," he noted, adding that the budget policy allows to circumvent these risks for up to three years, fulfilling all obligations with accumulated reserves.