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2014-06-29 20:25:00

RUSSIA ECONOMY WOULD SHRINK

RUSSIA ECONOMY WOULD SHRINK

The Russian economy would contract should the West introduce wide-ranging sectoral sanctions over Ukraine but that would not be a "dramatic" situation, Economy Minister Alexei Ulyukayev was quoted on Saturday as saying.

The United States and the European Union have repeatedly called on Moscow to do more to help stop fighting in eastern Ukraine - where Kiev is struggling against a separatist pro-Russian rebellion - or face harsher sanctions.

Ulyukayev told the "Vesti on Saturday with Sergey Brilev" TV program that the Russian government has worked out an economic outlook scenario envisaging sectoral sanctions.

They would hit Russian exports from luxury goods like furs and caviar under a relatively lenient option to metals, fertilisers, gas and oil under the harshest one, he said.

"The economy withstands such a scenario. The pace of economic growth, of course, retires to a negative area. The pace of investment if even worse, revenues are reduced, inflation accelerates, government reserves shrink," Ulyukayev said.

"But, in general, there is no dramatic development."

The government's official 2014 growth forecast now stands at 0.5 percent but Ulyukayev has said it could come in at around 1.1 percent - the same as in the first five months of the year.

The EU, which relies on Russia for a large part of its energy needs and has closer trade ties with Moscow than the Untied States, has been reluctant to press ahead with sectoral sanctions fearing they would backfire.

Diplomats in Brussels said on Friday any immediate moves could rather take the form of expanding the existing lists of people and companies targeted with asset freezes over Russia's role in Ukraine, including the annexation of Crimea.

reuters.com

Tags: RUSSIA, OIL, GAS, SANCTIONS

Chronicle:

RUSSIA ECONOMY WOULD SHRINK
October, 20, 12:10:00

NORWAY'S PRODUCTION DOWN 171 TBD

NPD - Preliminary production figures for September 2017 show an average daily production of 1 772 000 barrels of oil, NGL and condensate, which is a decrease of 171 000 barrels per day compared to August.

RUSSIA ECONOMY WOULD SHRINK
October, 20, 12:05:00

ЦЕНА URALS: $ $55,55881

Средняя цена на нефть Urals за период мониторинга с 15 сентября по 14 октября 2017 года составила $55,55881 за баррель, или $405,6 за тонну.

RUSSIA ECONOMY WOULD SHRINK
October, 18, 19:10:00

OIL PRICE: ABOVE $58

Brent crude futures, the international benchmark for oil prices, were at $58.16 at 0643 GMT, up 28 cents, or 0.5 percent from their last close - and almost a third above mid-year levels. U.S. West Texas Intermediate (WTI) crude futures were at $52.03 per barrel, up 15 cents, or 0.3 percent, and almost a quarter above mid-June levels.

RUSSIA ECONOMY WOULD SHRINK
October, 18, 19:05:00

РОССИЯ: БОЛЬШЕ НЕФТИ И ГАЗА

Александр Новак отметил рост основных показателей всех отраслей энергетики в прошлом году: «Мы имеем рекордные показатели за прошлый год по добыче нефти, угля. Идёт рост добычи и экспорту газа, в том числе в Европу на уровне 15 процентов. По углю мы наблюдаем рост добычи даже больше уровня прошлого рекордного года. Также отмечается рост производства электроэнергии на 2%, что говорит об оживлении экономики».

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