Russia: There is money, but we need to get away from oil dependence
Russia must carry out such structural changes in the economy so as not to depend on either oil prices or sanctions. Russian Finance Minister Anton Siluanov announced this today at the St. Petersburg International Economic Forum.
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“There is money. Our task is to ensure budget stability under any conditions. Whether it’s oil prices, whether it’s sanctions – we shouldn’t pay attention to it. We should not look at price quotes on stock exchanges and focus on what measures other countries will take in relation to Russia. Therefore, we need to focus not on easy oil revenues, but on what we have without opportunistic revenues,” Siluanov said.
The head of the Center for Strategic Research Foundation, Alexei Kudrin, said that Russia should double its non-resource exports in the coming years, primarily through innovative products.
Russia : There's Money, But We Need to Escape Oil Dependence