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Finance Minister: Russia’s Reserve Fund to Be Tapped Only if Crude Prices Plummet

© RIA Novosti . Dmitry Astakhov / Go to the photo bankRussia will consider tapping into its Reserve Fund only if there is a marked decline in oil prices, the Russian Finance Minister told journalists Sunday.
Russia will consider tapping into its Reserve Fund only if there is a marked decline in oil prices, the Russian Finance Minister told journalists Sunday. - Sputnik International
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Russia will consider tapping into its Reserve Fund only if there is a marked decline in oil prices, the Russian Finance Minister told journalists Sunday.

MOSCOW, September 14 (RIA Novosti) - Russia will consider tapping into its Reserve Fund only if there is a marked decline in oil prices, the Russian Finance Minister told journalists Sunday.

"Our task is to keep away [from the Reserve Fund] unless there is a serious fluctuation in oil price rates," Anton Siluanov said.

The minister said reserve funds could be used if oil prices dropped to 80-90 dollars per barrel of crude.

"If there is no sharp decline in prices, we will keep the Reserve Fund sealed as long as the income flow is at the expected level," Anton Siluanov added.

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