Russia will have enough of resources for 6 years at current oil prices - Finance Minister

Russia will provide funding for government spending commitments, including social sphere for six year at current oil process, Finance Minister Anton Siluanov said at a meeting of the Federation Council.

"I want to say that even at current energy prices, we will have enough resources for a period of about 6 years with our current obligations. We have no reason to say today that we will reduce the obligations stipulated in the three-year plan or reduce those budget parameters," Siluanov said.

He noted that all measures of social support will be implemented.

According to him, the government is also preparing proposals to support industries that could suffer due to lower oil prices and the expansion of the coronavirus pandemic. "We will talk about stimulating the development of the economy," he said. According to the minister, amendments to the budget provide for additional resources that allow regions to provide tax preferences to investors more widely.