Oil Price Slide Threatens Russia’s Economy

Tip of the day

TEHRAN Dec 02 (Shana)--Falling oil prices pose a threat to Russia’s economy, a deputy minister of industry, mine and trade said.
“Under such circumstances, the [Iranian] government should make efforts to benefit from opportunities in Russia and by broadening trade and economic relations with this country establish proper relations,” Mojtaba Khosrowtaj said.
He said that Russia’s national currency has lost its value by 30-40 percent in the past couple of months, adding that “this issue creates problems for Iran’s exports.”
Khosrowtaj said Russia is witnessing a serious flight of capital.
Ebrahim Rahimpour, deputy foreign minister, said Iran and Russia are now facing good opportunities for cooperation.
“After the Ukraine crisis and economic sanctions imposed against Russia, a good opportunity has emerged for Iran and Russia to cooperate in different economic sectors,” he said.
Rahimpour said Iran’s Foreign Ministry is determined to broaden Iran-Russia oil cooperation.

2014/7/23 09:27