Falling oil prices can undermine Russia’s reserve plansJune 23, 2012 - 12:55 AMT PanARMENIAN.Net - Falling oil prices are threatening to undermine Russia's plans to set aside 800 billion rubles ($24 billion) for its anti-crisis mechanism this year, the country's finance minister said on Saturday, June 23. "We intended that this money go toward increasing the Reserve Fund, but as oil prices are going down, this is not likely to happen," Anton Siluanov told reporters in St. Petersburg, according to RIA Novosti. The federal budget deficit will reach 1.5 percent of GPD by the end of the year, he added. Russia will introduce "anti-crisis measures" if oil fall prices drop below $80 a barrel, Siluanov told a St. Petersburg forum on Thursday. Siluanov had previously told the Financial Times that Russia would earmark 500 billion rubles ($16 billion) for next year "for the direct financing of anti-crisis measures." Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Viva-MTS: Tech solutions to modernize infrastructure of border village The border village has been the focus of Viva-MTS and the Foundation for the Preservation of Wildlife and Cultural Values since 2015. Ucom's fixed network launched in Artashat To mark this occasion, the company has introduced a special offer exclusively for Artashat residents. “By Your Side”: IDBank's new support program for displaced Artsakh citizens IDBank is launching a long-term social support program for forcibly displaced Artsakh residents. The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. |