The Kremlin Refuses to Recognize the Fall in Oil Prices as Catastrophic
OREANDA-NEWS. A sharp drop in world oil prices, after the parties to the OPEC+ deal failed to agree to extend it, cannot be considered as a disaster for Russia. This was announced by Dmitry Peskov, a press secretary of Russian President Vladimir Putin.
“This is a very unpleasant price conjuncture, but we probably can’t agree that this is a catastrophe for Russia in the medium term,” the politician said in response to a request to comment on the words of Lukoil Vice President Leonid Fedun, who called the fall in oil prices below 25 US dollars per barrel “catastrophic.”Peskov also recalled that “there were times when the price was even lower.” He noted that Russia has a "solid margin of safety” and it will ensure the fulfillment of all social obligations of the state.