ALEXEY VEDEV: “RISING OIL PRICES WILL HAVE AN INDIRECT IMPACT ON RUSSIAN ECONOMY AND RUSSIAN PEOPLE”

On the first working day of this week, the North Sea benchmark Brent crude oil reached a price point of $94.5 on the Intercontinental Exchange in London at a moment's notice. Oil prices have been rising for the third week in a row. The reasons for the growth were the reduction of oil supplies to foreign markets by Russia and Saudi Arabia, as well as optimistic forecasts about the economic recovery of China, which is the world's largest oil importer.

According to Alexey Vedev, the higher oil will contribute by helping the Ministry of Finance to reduce the country's budget deficit. This will stabilize the ruble exchange rate, and the dollar will cost Rb85-90 by the end of the year. It will also restrain the growth of prices in stores, the expert believes.