Source Pravda.Ru

Alexei Kudrin: Iraq war will not affect Russia's economy

The war in Iraq "will not produce a direct negative impact on the Russian economy", Russian Finance Minister Alexei Kudrin said Friday.

Appearing at a press conference in the Paris headquarters of the Organization for Economic Cooperation and Development, he noted "the Russian economy's dependence on world oil prices". A series of financial policy measures has been worked out in recent years to "reduce this dependence and the negative impact of the world oil prices fluctuations on the Russian economy", said Kudrin.

"The financial reserves accumulated since last year" and a mechanism of additional financial reserves created this year have "substantially reduced the risks". This is why the Iraq war and relative oil price fluctuations will not produce a "direct negative impact" on the economy of Russia.

"We have managed to retain trust in the Russian economy", stressed the vice-premier.

Comments
Turkey and USA take their relationship to breaking point
Russia starts Star Wars first. USA concerned and puzzled
Russia to build major naval base on the coast of Caspian Sea
US sanctions to kill Russian banks and sovereign debt?
US sanctions to kill Russian banks and sovereign debt?
The end of the theory of a Nobel Prize in chemistry?
US sanctions to kill Russian banks and sovereign debt?
Russia starts Star Wars first. USA concerned and puzzled
Russia starts Star Wars first. USA concerned and puzzled
US sanctions to kill Russian banks and sovereign debt?
Turkey and USA take their relationship to breaking point
Iran shows new ICBM that can evade radars
USA and Turkey: The elephant kicks the barking pug aside
Venezuela: Once again, interference from the USA in Latin America
Venezuelan President Maduro: USA fatally obsessed with Russia
Russian government prepares to get rid of US dollar in economy
Russia's long-range Bastion system follows USS Carney in Black Sea waters
Russian government prepares to get rid of US dollar in economy
Russian government prepares to get rid of US dollar in economy
Russian government prepares to get rid of US dollar in economy
Turkey desperately tries to rescue its national currency as it falls to all-time lows