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'Falling oil price, sanctions cost Russia $140bn'

  • Russia’s Finance Minister Anton Siluanov has said that falling oil prices were costing the country up to $100 billion a year and sanctions imposed by the West came with a price tag of $40 billion, according to media reports.

    Siluanov made the remarks on Monday, November24, in Moscow at a global financial forum.

    Reports have indicated that Russia may slash its oil production by around 300,000 barrels per day in order to support the price of oil.

     

    Tagged as: Russia, finance minister, Anton Siluanov, oil prices, sanctions, oil production, business news