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Russia's Anti-Crisis Plan to Be Based on Current Oil Prices

© REUTERS / Ruben Sprich Russian first deputy Prime Minister Igor Shuvalov gestures during the session 'Growing in Harder Times' in the Swiss mountain resort of Davos January 23, 2015
Russian first deputy Prime Minister Igor Shuvalov gestures during the session 'Growing in Harder Times' in the Swiss mountain resort of Davos January 23, 2015 - Sputnik International
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Anti-crisis plan will be calculated using current level of oil prices, according to Russian First Deputy Prime Minister Igor Shuvalov.

MOSCOW, January 24 (Sputnik) – Russian government’s anti-crisis plan will be drawn up with account of current oil prices, Russian First Deputy Prime Minister Igor Shuvalov said in an interview Saturday.

“Of course, we are taking into account recent oil prices. And now, without any illusions, we are drawing up this plan considering the current oil price on the market,” Shuvalov said in the Vesti v Subbotu (Vesti on Saturday) Russian TV show.

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During the World Economic Forum in Davos on Friday, Shuvalov estimated that the oil prices might drop below $47 per barrel.

On Thursday, Russian Prime Minister Dmitry Medvedev said that Russia’s anti-crisis measures, which are now the country’s top priority would require preparation of about 60 bills and a series of presidential decrees, and according to Igor Shuvalov, will cost the government some $21 billion.

Russia is currently facing an economic slowdown caused by falling oil prices and weakening of national currency, the ruble. Russia is also affected by Western sanctions, imposed over Moscow’s alleged involvement in the Ukrainian crisis, a claim repeatedly denied by Russian authorities.

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