Kuwait- Putin warns against low oil prices sanctions on Russia
Date
12/3/2015 8:59:41 AM
(MENAFN- Kuwait News Agency (KUNA)) MOSCOW Dec 3 (KUNA) -- Russian President Vladimir Putin warned against the effect of low oil prices and crippling economic sanctions on Russia's economy.Putin made this remark in his address to the Russian parliament Thursday.He stressed the importance of exerting all efforts to improve the country's economy by encouraging local production striving to make Russia the largest wheat exporter in the world.He also demanded reformation on the health care and education fronts.Russia is a strong country that is capable of overcoming its obstacle if efforts are unified Putin stressed.Meanwhile Russia's Energy Minister Alexander Novak said he did not expect any changes in oil extraction quotas during the next OPEC session."I honestly don't expect that there will be any cardinal changes or decisions that will be made during the OPEC session. We don't see any precursors for this but of course it would be expedient for OPEC to observe the same quotas they have set" Novack said.On a different note Novack said that Turkish stream pipeline construction project with Russia has been suspended. (end) as.nfm
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