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Russia and the global economy

Low oil prices OK for Russian economy due to currency rates – minister
The current oil price – about $70 per barrel – is acceptable for Russia and will not cause internal crisis, Aleksey Ulyukayev, minister of economic development, says. The price that matters for the budget is in rubles, which is balanced by currency rates.

29.11.2014 18:44

Brent crude drops below $70 for first time in 4 yrs, ruble in new historic plunge
Brent crude oil slumped to below $70 on Friday, its lowest level since 2010, after OPEC decided not to cut oil production. Venezuela's Foreign Minister said the group had worse cases to handle, adding that the current slump has partly political grounds.

28.11.2014 20:20

Rosneft gets stake in Total refinery in Germany
Russian oil major Rosneft has agreed to take over a 16.67 percent stake from France’s Total in an oil refinery in Germany. The deal was struck during the first visit to Russia of Total’s new CEO.

28.11.2014 13:22

‘OPEC decision will undermine global oil industry’
OPEC`s decision not to reduce oil production will affect major oil producers and may undermine the global oil industry, planting the seeds for a major oil crisis in 2015 or 2016, international oil economist, Dr. Mamdouh Salameh told RT.

28.11.2014 12:28

Oil market to face major change – Rosneft CEO
The decline in oil prices and the increase in alternative shale production in the US will trigger a redistribution of the world oil market, said Rosneft CEO Igor Sechin.

28.11.2014 07:26

Italian ex-FM: Sanctions affecting EU much more than expected, not impacting US at all
Italian politician Franco Frattini has hit out at sanctions implemented against Russia, saying they are counterproductive. He also says Russian loans to Ukraine are much bigger than the amount of money the EU is prepared to offer Kiev.

27.11.2014 19:13

Oil industry battle: ‘New fracking technologies VS traditional extraction methods’
OPEC is not a monolithic organization and it fails to agree on common policy, so it’s unlikely that the upcoming Vienna meeting will become a deciding factor on oil prices, Adrian Salbuchi, International consultant, told RT.

26.11.2014 08:11

US pressing Chinese and Arab banks to sanction Russia – head of VTB bank
The US is putting pressure on Chinese and Arab banks, forbidding them to work with Russian sanctioned companies, says Andrey Kostin, head of Russia's second biggest lender VTB.

26.11.2014 12:56

​EU should accept gas transit risks, if it rejects South Stream – Russian Economy Minister
If European countries don’t want to eliminate gas supply problems by building the South Stream pipeline, they should take responsibility for the possible transit risks, said Russian Minister of Economic Development Aleksey Ulyukayev.

26.11.2014 11:08

European gas stocks enough to survive without Russian supplies for a year – OECD
Most European countries have enough stocks to cover for “lost” gas from Russia should there be a major disruption. Hardest hit would be Slovakia, Austria, and Turkey as they rely on Russia for at least 15 percent of their energy needs, OECD experts say.

25.11.2014 15:11

​South Stream of ‘national importance to Serbia’ – ambassador
South Stream is an essential gas project and will guarantee energy stability in Southeast and Central Europe, according to the Serbian Ambassador to Russia Slavenko Terzic.

25.11.2014 11:28

​‘BRICS system’ – healthy alternative to ‘defunct dollar system’
The BRICS Bank marks a major step to de-dollarization, and a new monetary system. It should replace the Western-dominated “predatory casino scheme” that has contributed to world wars and “economic terrorism,” says former World Bank economist Peter Koenig.

24.11.2014 13:37