Russia loses $140 bln per year due to oil prices drop

25 November 2014 09:37
(QHA) -

Russia loses about $40 billion a year due to sanctions and $90-100 billion due to a drop in oil prices.

Russian Finance Minister Anton Siluanov said this at an international financial and economic forum, the Apostrophe online news site reported.

“We lose about $40 billion a year because of geopolitical sanctions, and we lose about $90-100 billion a year due to a reduction in oil prices by 30%,” the minister said.

However, he said that falling oil prices were a major main risk to fiscal policy, the financial system and the economy as a whole.

As reported, the Central Bank of Russia expects the outflow of capital in 2014 at $128 billion.