Russia keeps urging West to set up wide coalition against terrorismRussian Politics & Diplomacy October 25, 18:26
IAAF supports IOC decision to encourage Russia’s whistleblowing coupleSport October 25, 18:14
MP blasts ‘cynical’ calls to suspend Russia from UN Human Rights CouncilRussian Politics & Diplomacy October 25, 18:08
Minsk sees military cooperation with Moscow productiveWorld October 25, 18:04
Russia ready to deliver strikes on militants moving into Syria from Iraq — generalMilitary & Defense October 25, 17:36
Assad's political advisor to visit Moscow this week — sourceRussian Politics & Diplomacy October 25, 17:22
Russian commander assesses results of Russian-Egyptian drills' main phaseMilitary & Defense October 25, 17:13
Russian expert slams EU’s sanctions against Moscow as gimmick to ensure its own unityRussian Politics & Diplomacy October 25, 17:13
Foreign investment in Kazakhstan up 4.4 timesBusiness & Economy October 25, 16:56
“What happened for the economy? We lose at least $40 billion a year due to the political sanctions and at least $90-100 billion annually due to oil prices fall by 30%,” he said.
Oil prices have fallen sharply in the recent months. In an exclusive interview with TASS Russian President Vladimir Putin said the drop in oil prices has several reasons. Firstly, he said, the supply has increased because Saudi Arabia, Libya and Iraq have increased oil production. Islamic State militants are illegally selling cheap oil ($30 per barrel) which also affects the price, he said. Meanwhile, consumption has contracted due to stagnation.
The West, inspired by the United States, subjected Russian officials and companies to the first batch of sanctions, including visa bans and asset freezes, after Russia incorporated Crimea in mid-March after a coup in Ukraine in February.
New, sectoral, penalties against Russia were announced in late July over Moscow’s position on Ukrainian events, in particular, what the West claimed was Russia’s alleged involvement in hostilities in Ukraine’s embattled east.
Russia responded with imposing on August 6 a one-year ban on imports of beef, pork, poultry, fish, cheeses, fruit, vegetables and dairy products from Australia, Canada, the EU, the United States and Norway.
Moscow has repeatedly dismissed Western allegations that it could in any way be involved in hostilities in the east of Ukraine.