Oil price crash not catastrophic for Russian economy — Kremlin ...United Arab Emirates

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Oil price crash not catastrophic for Russian economy — Kremlin
source : Russia Today ( United Arab Emirates ) () 29
The current situation on the global oil market is not disastrous for Russia, Presidential Press Secretary Dmitry Peskov said on Friday, noting the country has a safety cushion. Russia holds vast gold and foreign exchange reserves to stabilize the economy in times of economic uncertainty. The country's total gold holdings amounted to 73.2 million troy ounces (2,276.8 tons) as of February 1, and are worth around $116 billion, while the country's total reserves have recently eclipsed $580 billion, according to the latest data from the Central Bank of Russia. "Certainly, the price situation is unpleasant... But we can't agree that this is

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