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 | Narek Manasyan wins European Boxing Championships silver for Armenia Armenia’s Narek Manasyan (92kg) won Armenia’s second silver medal at the European Boxing Championships 2024 on April 28. Blinken urges Azerbaijan to continue negotiations with Armenia Secretary of State Antony J. Blinken has urged Azerbaijani President Ilham Aliyev to continue negotiations with Armenia. Pashinyan, Blinken talk Armenia-U.S. ties over the phone Prime Minister Nikol Pashinyan had a phone conversation with US Secretary of State Antony Blinken on April 28, Pashinyan’s office reports. Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation. |