26 May 2004 15:09
RUSSIA READY FOR POSSIBLE DROP IN OIL PRICES - GREF
MOSCOW. May 26 (Interfax) - Russia is ready for a possible drop in oil prices, Economic Development and Trade
Ministry German Gref told reporters.
Asked whether the country was ready for a sharp drop in oil prices on the world market, Gref replied: "As you
can see, Russia is ready for this."
"We would not be frightened if oil were to drop to as low as $18 a barrel. We have already formed a considerable
stabilization fund this year and this insures us against a drop in prices. If things go further we are ready for that
too. True, our actions will become more rigorous from the point of view of budgetary and monetary policy," the
economy minister said.
[Interfax] |
RUSSIA IN FACTS
