Source Pravda.Ru

YUKOS head on Russia's economic growth - 27 March, 2003 - News

Russia's economy will stop growing at the cost of the oil sector in the first half of 2003, YUKOS head Mikhail Khodorkovsky declared at the conference "The Strategy of Russia". He declared that in 2002 revenues of the Russian oil sector amounted to $57bn, while different taxes amounted to $22bn, $15bn were production expenses, $9bn were transportation expenses and $10bn were capital investments.

Khodorkovsky believes that it is necessary to increase oil production from the current 380m tons to 500m tons per year, decrease transportation expenses (by 30 percent, in the event new oil pipelines are constructed) and launch new technologies. According to him, it is necessary to sell about 1bn tons of oil reserves per year at tenders. He thinks that in 2004 oil prices will return to their "normal levels" ($20-23 per barrel for Brent oil and $18-21 per barrel for Urals oil). At the same time, the Russian budget could lose about $6bn and the GDP about $15bn, if the proposed measures are not taken.

© &to=http://www.rbc.com' target=_blank>RBC

When the bill was submitted to Congress on August 2, the reason for imposing the new sanctions on Russia was based on Russia's alleged interference in the US presidential election in 2016, but then something clicked

US sanctions to kill Russian banks and sovereign debt?
Comments
Saudi Arabia: War with Iran unavoidable
Default more likely to hit American, rather than Russian economy
Default more likely to hit American, rather than Russian economy
Moscow aware of NATO's plans to attack Russia
Ukraine and PMC Blackwater to poison Donbass with radioactive waste
Ukraine wants to have the army of Nazi zombies
Ukraine wants to have the army of Nazi zombies
Ukraine and PMC Blackwater to poison Donbass with radioactive waste
Ukraine dreams of what it can do to Crimea after winning war with Russia
Ukraine dreams of what it can do to Crimea after winning war with Russia
US sanctions to kill Russian banks and sovereign debt?
Most Russians do not notice absence of delicious foreign food products
Putin in Austria: Europe doesn't like Russia very much, but it is fed up with USA too
Default more likely to hit American, rather than Russian economy
Ukraine and PMC Blackwater to poison Donbass with radioactive waste
Who loses and wins most from Caspian Sea division
Default more likely to hit American, rather than Russian economy
The Sham called Democracy
Default more likely to hit American, rather than Russian economy
Melania Trump starstruck when shaking hands with Putin
Melania Trump starstruck when shaking hands with Putin