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Russia can 'live forever' with USD 40 oil price as hedge funds baffle

Russia is certain it can survive on low oil prices, but the country is less confident about hedge funds. 

Photo: /ritzau/Nabil al-Jurani/Arkiv

A race to the bottom in oil prices may not have many winners, but Russia is certain it can survive. It’s less sure about hedge funds.

“We’re actually ready to live forever with the oil price at USD 40 or below,” Russian Economy Minister Maxim Oreshkin said in a Bloomberg Television interview at the St. Petersburg International Economic Forum on Thursday. “All macroeconomic policy is now based on the assumption of the oil price of USD 40.”

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