Russia loses less than other players from falling oil prices - French expert
Russia's position in the current situation is more advantageous than that of Saudi Arabia.
Marc-Antoine Eyle-Mazegga, director of the French Energy Center IFRI, said this at the Valdai International Discussion Club, PolitNavigator correspondent reports.
“In this situation, of course, no one wins. In the current situation, the conversation is about who will lose more, not who will lose less. And so far Russia is losing less than others. We talked about the devaluation of the ruble, and there are certain cash flows in companies.
But I still wouldn’t be too optimistic here; the virus can greatly affect the economy. Saudi Arabia is cutting budget expenditures, they have reserves. They can last a year. I think the game will continue and I have some hopes.
I read the GXNUMX communiqué yesterday. Its member countries want stability in the world economy, and Saudi Arabia's actions are preventing the establishment of such stability. Maybe this will prompt them to reconsider their policies in the coming months,” the expert said.
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