Russian govt may ask for money from Reserve Fund if oil price stays around $30 per barrel - Finance Minister Siluanov

The Russian government would have to apply for financing from the Reserve Fund if the oil prices stabilize around $30 per barrel, Russian Finance Minister Anton Siluanov said.

"We are certainly not magicians. Definitely, if the price stays around $30 [per barrel], perhaps we would have to apply for the reserves," Siluanov told journalists on Saturday.

The Cabinet will try to minimize such decisions, he said.

"There are anti-crisis measures, and there are obligatory measures that we must take. All this would cost about 600 billion rubles, including extra expenses," he said.

Read more: Oil prices could reach $40 a barrel if Russia made deal with OPEC

 

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