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Date: a month ago   Category: Finances

What do the high prices of oil threaten Russia with?

There are such risks — oil can rise up to 100 dollars for barrel. In an interview of Business FM the Minister of Energy Alexander Novak has given such forecast. And in what they consist? Photo: Yury Smityuk / TASS the Future American sanctions against Iran from which jump aside so far both in Europe, and in many Asian countries, plus falling of production in Venezuela and Libya. Raw materials cost on it grows. But now the high prices of oil in Russia cause not only joy — at least because strong falling can follow take-off. Here and the Minister of Energy Alexander Novak in an interview of Business FM called 100 dollars for oil risks: "Such risks that oil can rise up to 100 dollars, exist today. Today the price of 86 dollars, and was yesterday 85, that is in one day the price rose by dollar. Even the whole month before the final decisions concerning those sanctions which in November can be entered across Iran are made. Therefore now the market very much is nervous, traders and participants of the market can, of course, including making some decisions, to be guided also by these uncertainty, and the prices can grow". Risks that oil can leave to 100 dollars, and roll down then down, it is still half the problem. New reality now not only external, but also internal. Oil, more than ever before, costs much in rubles — already close to 6000 for barrel. Raw materials in foreign market expensive, and ruble weak. Before it didn't happen — oil in rubles cost always about 3600. It means that at today's oil prices for dollar would give 41 rubles. And now for dollar give one and a half times more. Also such chain turns out. In Russia the tax on oil production, oil expensive raise, ruble weak. It becomes within the country more and more unprofitable to sell fuel. As a result — expensive gasoline. Well and inflation growth, the CEO of investment partnership of "Van Der the Black" Stanislav Mashagin:stanislav Mashagin the CEO of investment partnership of "Van Der the Black" "Notes gasoline as end products participates practically in all food, and this most sensitive increase for the greatest number of people in the country. Today's budgetary rule and the high price of gasoline — it is simple at least not really professional action which by and large not strongly enriches the budget and much bigger causes discontent. Kind of beautifully we considered inflation, this gasoline as a result will get out in absolutely other figure". The expert not casually mentions the budgetary rule. Now all oil revenues higher than 40 dollars for barrel go to a jug, on a case of bad times. Thanks to high prices this year the country can receive 5 trillion rubles in addition. Huge money — it is more than a half of what is required on the "May" decree. But the authorities won't spend them, everything will go to reserves — if more precisely, to purchase of foreign currency. That is why together with threat of new sanctions the ruble doesn't become stronger on ultrahigh prices of oil. And it, respectively, can lead to a bigger rise in price of gasoline.



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