We will sue, because we undertook all necessary action so that investors would receive their payments, we will show the court proof of our payments, to confirm our efforts to pay in rubles, just as we did in foreign currency. It won't be a simple process.

Anton Siluanov

One needs to redistribute and restructure expenditures in favour of infrastructure, education and so on. Such military expenditures are heavy to carry.

military education needs

Budget for 2015 provides for 11.7% expenditures growth by Anton Siluanov

Budget for 2015 provides for 11.7% expenditures growth

expenditures budgets growth

We have to define our top priority pending expenditures; these are, first and foremost, our social expenditures, and we have to cut on expenditures that we cannot currently afford. This is the very least we should do in 2015

priorities cutting firsts

At 50$ per barrel of oil we shall lose about three trillion ruble... by Anton Siluanov

At 50$ per barrel of oil we shall lose about three trillion rubles of budget income

income oil three

There are many arguments both in favor of the extension and against it, of course, we need price stability and predictability, this is good.

business

The issue of credit support to Rusal and GAZ by Promsvyazbank (PS... by Anton Siluanov

The issue of credit support to Rusal and GAZ by Promsvyazbank (PSB) is being worked out.

business

Ukraine cannot claim that it is ready in good faith to negotiate and at the same time insist that they will only consider the variant which was already offered to private creditors.

mergers-acquisitions

Our task is to adapt our budget to the new realities, our budget will be balanced when the price is $ 82 per barrel so there are still a lot of decisions to be made when it comes to budget policy.

energy

The state cannot have the kind of spending it used to have with economic growth ... (and) with the oil price at $100 per barrel.

energy

Regardless of having already curbed 2015 spending, we will ask parliament to cut by 10 percent all expenditure apart from defence spending. This is the decision we have made.

world

We think that with the (average) oil price at $50 per barrel (in 2015) ... we will lose some 3 trillion roubles in revenues.

world

We need to have a lot more resources so as not to spend, not to b... by Anton Siluanov

We need to have a lot more resources so as not to spend, not to burn up the reserve funds.

world

Ukraine has definitely violated the terms of the loan, and in particular (the condition) not to increase its state debt above 60 percent of GDP, so Russia definitely has the right to demand early return of this loan. At the same time, at present this decision has not yet been taken.

top-news

We need to have our budget break even at $70 per barrel by 2017. by Anton Siluanov

We need to have our budget break even at $70 per barrel by 2017.

energy

We're losing around $40 billion a year because of geopolitical sanctions, and about $90 billion to $100 billion from oil prices falling by 30 percent, the main issue that affects the budget and economy and financial system, this is the price of oil and the fall in monetary flows from the sale of energy resources.

world

We have the money, we made the payment, now the ball is in America's court.

If we continued the same policy as this year, we would pull out the money from the economy... We can’t withdraw all the liquidity from the market and finance spending.

If so, then we can’t keep our spending high all the time, we carry out responsible policy unlike other countries that flood and will flood their economies with money.