Siluanov says budget surplus protects Russia against sanctions

MOSCOW, Nov 28 (PRIME) -- Russia’s budget surplus is creating a safety cushion against the sanction pressure, Finance Minister Anton Siluanov said on the Russia Calling! investment forum on Wednesday.

“Budget surplus creates a barrier on the way of various changes of external conditions, including the sanctions pressure,” Siluanov said.

He also said that the ruble rate does not depend on the oil price dynamics. “A moderately tough budget and monetary policy favors predictable conditions. The rate is virtually independent from oil price changes.”

End