` Vladimir Putin has Said that Opportunities for the West to Hurt the Russian Economy are Limited ‘

#AceFinanceNews – MOSCOW – April 17 – Opportunities for the West to hurt the Russian economy are limited, President Vladimir Putin said Thursday.

Europe cannot stop buying Russian gas without inflicting pain on itself, and if the US tries to lower oil prices, the dollar will suffer.

If the West tries to damage Russia’s influence in the world energy market, efforts will likely backfire, the Russian President said during his twelfth annual televised question and answer session.

To really influence the world oil market a country would need to increase production and cut prices, which currently only Saudi Arabia could afford, Putin said.

The president added he did not expect Saudi Arabia, which has “very kind relations” with Russia, will choose to cut prices, that could also damage its own economy.

If world oil production increases, the price could go down to about $85 per barrel.

“For us the price fall from $90 to $85 per barrel is not critical,” Putin said, adding that for Saudi Arabia it would be more sensitive.

#AFN2014

#moscow, #russias, #russian, #russian-president-vladimir-putin, #saudi-arabia

` Ukraine will Protect its Right to `Free Trade by means of the `WTO ‘ says Arseniy Yatsenyuk ‘

#AceFinanceNews – KIEV – April 17 – Ukraine will protect its right for free trade with Russia, the parliament-appointed Ukrainian premier Arseniy Yatsenyuk has said.

“This right will be protected by all means, including through the WTO (World Trade Organization),” Yatsenyuk said on Thursday.

“You know the situation: Russia’s markets have long been closed to us despite bilateral agreements,” he said.

“We’ll defend our right to free trade with all countries, including Russia” Yatsenyuk said.

#AFN2014

#russias, #ukraine, #world-trade-organisation-wto

` Putin Claims Russian Currency is Starting to Gain Strength Against the US Dollar Due to No Troops in Ukraine ‘

#AceFinanceNews – MOSCOW – April 17 – The Russian currency started to strengthen against the dollar on Thursday after President Vladimir Putin said claims that Russian forces were present in eastern Ukraine were “rubbish.”

The ruble is 35.86 against the dollar, 13 kopecks less than previous closing, Interfax reported.

The euro stood at 49.69 rubles, losing 3.5 kopecks.

The bi-currency price ($0.55 and euro 0.45) decreased by 8.5 kopecks to 42.08 rubles.

#AFN2014

#moscow, #rubles, #russian