Photo: Natalia Seliverstova / RIA Novosti
The Russian Ministry of Finance has defined the future of the ruble at zero in oil prices. According to Deputy Finance Minister Alexei Moiseyev, in such a situation the currency does not happen, “nothing special.” His words leads RIA Novosti.
“We now know what happens to the ruble when oil reaches zero. Was so theoretical we have during all these years of debate: what will be. And here it was, and was nothing special at large,” said Moses.
The official is referring to the fall of quotations of WTI futures Texas who in April turned negative for the first time in history. Analysts believe that the repetition of such a scenario is unlikely.
Moses also spoke about the anti-crisis measures aimed at economic recovery. He is confident that flooding the system with money is not necessary. “I think it would be worse if we repeat the Soviet and Russian experience of inflating the economy with money, which will eventually lead to what is worthless and everything bad for everyone,” he said.
Video, photo All from Russia.