Russian government is ready for a fall of oil prices

Russia is ready for a fall in oil prices which could drop to $60 a barrel over the next three years, Russian Finance Minister Aleksey Kudrin said. Kudrin added that because of this, loans should be taken out with great care. "We will have to see a price of $60 for more than six months. The risks to our economy must be taken into consideration. The price of oil is volatile and that is important", Kudrin said. He said falling oil prices would help increase refinancing rates at leading central banks around the world.