'Falling oil price, sanctions cost Russia $140bn'
November 25 , 2014
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.