Russian Finance Minister Proposes $40 Per Barrel Tied to US Inflation Rate

© Sputnik / Alexei Danichev / Go to the mediabankPrirazlomnaya offshore oil platform
Prirazlomnaya offshore oil platform - Sputnik International
The Russian Finance Ministry plans to introduce a new budget rule with the lower house of parliament on a $40-per-barrel oil cut-off price tied to the inflation rate in the United States, Finance Minister Anton Siluanov said Monday.

SOCHI (Sputnik) — Speaking on the sidelines of the Russian investment forum in Sochi, the minister clarified that "we should adjust this parameter on inflation forecasts in dollar terms for the period of several years."

"The economic block's opinion is that the spring session should begin with proposals on amendments to the Budget Code on the budget rule. We believe that the cut-off point should be $40 per barrel in real terms," Siluanov said.

To participate in the discussion
log in or register
Заголовок открываемого материала