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RUSSIA'S ECONOMY

Deputy economic development minister projects oil prices for 2015 at $60-80 per barrel

"It seems to me that the price of $60-80 per barrel is a more reliable calculation, I don’t trust high stress scenarios," Russian Deputy Economic Development Minister Alexey Vedev said

At a Transneft oil pumping station ITAR-TASS/Yuri Smityuk

At a Transneft oil pumping station

© ITAR-TASS/Yuri Smityuk

MOSCOW, January 14 /TASS/. Russian Deputy Economic Development Minister Alexey Vedev said on Wednesday he projects oil prices for 2015 to be around $60-80 per barrel.

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Russia’s Finance Ministry proposes 10% budget cuts, except defense spending

According to Vedev, the ministry is working on several scenarios of economic development, taking into consideration oil prices from $40 per barrel and up.

“These are just possible scenario calculations. It seems to me that the price of $60-80 per barrel is a more reliable calculation. I don’t trust high stress scenarios. If the average oil price will be $40 per barrel, then there will be structural changes in the economy,” Vedev said.

Vedev also stressed that a lower price for oil does not mean that the “GDP will plunge deeper.” “The structure of the manufacturing industry may change. Some industries may show decline and others will grow,” he said.

However, according to him, it does not mean that if the oil prices reach that level, the GDP will plunge.

Vedev also reminded that the Ministry of Economic Development does not plan to revise the macroeconomic forecast for 2015-2017 earlier than April.

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Rafael Grossi reminded the Security Council that last year he outlined the principles of ensuring safety at the ZNPP to avert the danger of a nuclear incident and called on Russian and Ukraine to observe them

Israel plans to send 'painful message' to Iran in response to attack — newspaper

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US, Europe’s military force insufficient to fight Russia — expert

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White House effectively rules out option for US forces to intercept Russian missiles

US National Security Council spokesman John Kirby said Joe Biden had made it clear that the United States would not take on a combat role in Ukraine

Russia’s UN envoy says IAEA too cautious as it doesn’t name culprit behind attacks on ZNPP

Vasily Nebenzya said Russia was calling on the International Atomic Energy Agency to name the source of attacks

Freshly mobilized Ukrainian soldiers holding first-line defense in Chasov Yar, says DPR

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Iran has warned US that Israeli response would set off harsh retaliation — minister

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Israel considering retaliatory steps following Iranian attack — top brass

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Iran has no need to buy Russia’s S-400 missile systems — defense minister

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Servicemen of Russia’s battlegroup West receive certificates for destroyed Leopard-2 tanks

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Ukrainian paratroopers surrender in Avdeyevka area — Russian Defense Ministry

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Turkish-mediated Black Sea security pact crumbles as Ukraine backs out — Reuters

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Russian security chief urges measures against 'ethnic enclaves' in Russia

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Ukrainian troops hunker down in abandoned apartments in Kherson — governor

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Russian paratroopers seize Ukrainian stronghold on tanks, combat vehicles

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Iranian president warns of 'terrible response' to any action against country

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Russian Su-34 jets destroy Ukrainian command post with high-explosive aerial bombs

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Ukraine offers to use neighbors' air defense systems to protect its gas storage facilities

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New sanctions against Moscow to push supplies of Russian metal to China up — Bloomberg

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Ukraine struggles to garner support for Swiss conference — Russian Foreign Ministry

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Iran ready for defensive measures if Israel continues escalation — embassy in Russia

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Zelensky irked by US’ request to stop attacking Russian energy infrastructure — media

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Georgian parliament passes bill on foreign agents in first reading

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Russian foreign ministry blames Paris for death of French mercenaries in Kharkov

The ministry hopes "that the people of France will ultimately learn the truth about the actual scope of France’s involvement in the conflict"

Moscow shooter identified as European boxing champion Nikita Ivanov

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Israeli strikes on Iran to do disservice to US ahead of election — former Russian diplomat

"The Biden administration on the eve of the presidential election does not need this at all," Alexander Maryasov noted

US, UK strikes harm Yemeni settlement prospects — Russian mission to UN

"Such actions harm the intra-Yemeni settlement, undermining the efforts of international and regional mediators," Dmitry Polyansky noted

US House could consider separate bills on aid to Israel, Ukraine this week — report

US House Speaker Mike Johnson announced the plans in a private meeting with GOP lawmakers on Monday, Politico said

IAEA chief slams attack on ZNPP dome as 'very dangerous precedent'

Rafael Grossi calls for attacks on ZNPP to stop as they raise safety risks

Volume of frozen Russian assets in Germany reaches around €3.9 bln

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Russia’s UN envoy says statements by West expose Kiev’s responsibility for attacks on ZNPP

"They not only completely gave away Zelensky's regime, but also confessed to their own complicity in these irresponsible bombardments," said Vasily Nebenzya

Russian envoy calls UN Security Council meeting on Iran strike parade of hypocrisy

"If Western missions were attacked, you would not hesitate to retaliate and prove your case in this room. Because for you, everything that concerns Western missions and Western citizens is sacred and must be protected," Vasily Nebenzya said

Slovakia to oppose Ukraine’s NATO membership bid — PM

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France to invite Russia to events marking 80th anniversary of Normandy invasion

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Russian finance ministry considering abolition of export duty on gold

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