Oreshkin: events in the middle East did not have a big impact on the ruble

What will happen to oil prices and our currency against the background of current middle East events? In an interview with our programme told the economy Minister Maxim Oreshkin.

Today, oil prices down slightly. A barrel of Brent crude is worth little more than $ 65, although more quotes on Monday soared to nearly $ 69 dollars. Experts feared that in response, Iran could close Hormuz breakthrough, and this would have caused a disruption in oil supplies.

for example, the article about this on CNBC. Publishing Market insider even predicts the collapse of the Iranian economy, the consequences for all other countries in the Middle East and eventually slowing and the economy of the world.

Maxim Oreshkin believes that to make such conclusions premature.

“Some companies have begun to think — to supply or not to supply oil through the Strait of Hormuz. Until we see that there is no problem, but such risks exist. And it should be understood that any such risk of any such disruption — they will be a serious test for the oil market and can lead to serious fluctuations,” — said Maxim Oreshkin, the Minister of economy of Russia.

According to the Minister, fluctuations in oil prices do not have now a great impact on the ruble. However, the Russian currency in the last few months is growing steadily, but this is primarily due to reforms in our country.

“That, first, internal factors, internal from external economic fluctuations, from the external situation, thanks to the reforms that have been implemented, to a large extent the Russian economy is isolated,” Oreshkin said.

the economy Ministry predicts a further strengthening of the ruble and inflation below 3% in the first half of 2020.

the Stock market is showing growth — the index of the MICEX and RTS — on records.

Here is how the inflow of investment the Minister explains Oreshkin: “the Economy shows positive growth ROST, we have a good dividend yield. This is a very good indicators that attract investors, you can invest shares and guarantee to a certain extent, income. Now it is rare where will meet at the global stock markets. So it’s all to raise capital, including, from the outside.”

the world Bank expects our economy this year will grow by 1.6%.